According to crypto analyst Akash Girimath, Ripple (XRP) bulls are delaying an inevitable retest of $0.60. The analyst also expects a 15% rally for Avalanche (AVAX). According to crypto analyst Steven Walgenbach, Dogecoin (DOGE) may be preparing a strong bullish move. We have compiled the analysts’ XRP, AVAX and DOGE analysis for our readers.
“XRP awaits capital flow”
XRP surpassed the selling resistance level at $0.400. It also became a mainstay for the second time last week. However, this development consumed the upward momentum. It also left little buying pressure for further upside. The downward pressure is also due to the lack of volatility in Bitcoin.
However, it is possible that the new week will start a bullish run for both Bitcoin and XRP. In this case, investors can expect XRP to continue its uptrend. Accordingly, the altcoin will likely revisit the $0.448 and $0.506 barriers. Once the buy-stop liquidity above these levels gathers, market makers are likely to decide to turn these barriers into support bases. If successful, it is possible that they will allow the rally to continue. Also, it is likely to label the next critical hurdle at $0.609. This move represents a 54% gain for XRP holders.
XRP 1-day chartThings are getting better for XRP. However, a spike in selling pressure that breaks the $0.400 support level will signal weak bulls. If a four-hour candlestick closes below the $0.316 support after this move, the bullish thesis will be invalidated. This would lead to a correction of XRP to $0.288.
“AVAX is ready to earn more”
The AVAX price action between November 11 and December 2 created an inverted head-and-shoulders pattern. This technical formation predicts a 13% rise to $14.83 by measuring the distance from the lowest point of the head to the neckline and adding it to the $13 breakout point.
Meanwhile, AVAX violated this order on December 2. Accordingly, it tried to continue its ascent up to $14.83. However, it failed. It is possible to attribute this failure to the lack of momentum as it faces the $13.91 hurdle. Breaking this hurdle will allow AVAX not only to hit its target but also to retest the $15.94 resistance level.
AVAX 4-hour chartThe Taurus view seems logical. However, traders also need to consider the possibility that AVAX may lack bullish momentum. Probably rejection at $13,931 for AVAX would be the first sign of weakness. However, breaking $12.77 invalidates the bullish argument. Bears are likely to accelerate as lower lows form. Besides, it would trigger AVAX to slide further lower and retest the $11.88 support level.
“DOGE is getting ready to run!”
The price of meme coin Dogecoin (DOGE) is showing early signs of a potential explosive move following the end of a multi-year downtrend. Investors need to keep an eye on Dogecoin (DOGE) when attempting another rally. As you follow on Kriptokoin.com, DOGE reached an all-time high of $ 0.739 (ATH) in May 2021. However, later on, a steady downtrend got in the way. Also, a trendline connecting the fluctuating tops of DOGE signals that DOGE is in a steady decline. It also shows that it has broken every bullish attempt after that.
Towards the end of October, DOGE posted a 163% increase in less than two weeks. Thus, it shattered the multi-year bearish trend. So things have changed for DOGE as well. After spotting a local top at $0.158, DOGE is down 55%. Besides, it formed a higher low at around $0.07713. The new high low was followed by a 56% gain when DOGE faced resistance at $0.109.
DOGE price daily chart / Source: CoinMarketCapMeanwhile, DOGE failed to overcome the resistance level and returned to the 9 daily EMA. There are still signs of a major bullish move for DOGE on the daily chart. The first technical indicator for bullish sentiment is the daily RSI line, which sits above the daily RSI SMA line. Also, the slope of the daily RSI line is positive towards overbought. The second bullish technical flag is the 9 daily EMA positioned above the 20 daily EMA line. If the bullish thesis happens, DOGE is likely to rally as high as $0.181 or $0.190.
23650
