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The top 3 cryptocurrencies seem to be on the verge of a major movement these days, while BTC continues its sideways movement. What worries investors is that the critical support zone on the BTC side has been tested multiple times. This increases the likelihood of a downward breakout. So what levels are awaiting XRP, ADA, and DOGE investors?
Ripple (XRP) Coin
Bears managed to pull the price of XRP below $0.50 on September 1st. This zone also served as a critical barrier in the uptrend. Although the price fell below this zone, as seen from the long tail of the candlestick of the day, they could not sustain lower levels. Bears continue to exert pressure and do not allow bulls to initiate a strong recovery from the $0.50 level. This increases the possibility of a downward breakout.
If the decline in the XRP Coin price gains momentum, investors may see a drop to $0.41 in the coming days. On the contrary, if the price turns up from the current level and rises above the 20-day EMA ($0.53), it could rise to $0.56 and $0.6. The next targets would be $0.65 and $0.73.
Cardano (ADA) Coin Chart Analysis
Cardano has been consolidating between $0.24 and $0.28 for the past few days, indicating indecision between bulls and bears. The situation is the same here as with the rest of the altcoins. The falling 20-day EMA ($0.26) and RSI below 38 indicate a slight advantage for bears. If the price turns down from the 20-day EMA, the last bottom would be at $0.2, following $0.24 and $0.22.
To invalidate the bearish scenario, a close above $0.26 is needed. Possible upward targets are found at $0.28 and $0.32.
Dogecoin (DOGE) Analysis
Buyers tried to push Dogecoin above the 20-day EMA ($0.07) on September 2nd, but bears held their ground. This causes the DOGE/USDT pair to remain trapped between the 20-day EMA and the important support of $0.06. The downward sloping 20-day EMA and RSI in the negative territory provide an advantage for sellers. If the price falls below $0.06, the test of $0.055, which we have always mentioned, may come.
Will the DOGE detail in Elon Musk’s upcoming biography or the rumors of the DOGE lunar mission in November revive the demand? For now, this scenario does not seem very valid. However, it would not be surprising for DOGE, the altcoin of surprises, to show upward high volatility. Musk has made moves several times in these types of downturns to boost the price.
