BTC

• XRP’s key moves
• Bitcoin is alive

As Dogecoin gets closer to what could be its last line of defense on the charts, it is skating on thin ice. Although the asset has been kept above a complete collapse thus far by the critical support level at $0.17, waning market interest and waning momentum are sending alarming signals everywhere.

After an extended downward trend that started in early June, DOGE is currently trading around $0.1704 from a technical perspective. With the 50 EMA (blue) and 100 EMA (orange) serving as overhead resistance, price action has been resolutely bearish and has failed to regain any of the major moving averages despite a brief attempt at a bounce around the $0.18 zone.

DOGE/USDT Chart by TradingView

The fact that the 200 EMA is still well above the present level emphasizes how far away any meaningful recovery is. Trading volume has been steadily declining, which is more concerning than the price alone. The daily chart’s volume bars have been getting smaller for weeks, which suggests that buyers are not as convinced. This type of volume collapse frequently signals capitulation in which investors give up and liquidity evaporates, opening the door for sharp declines. 

The next likely support is at $0.14 if DOGE is unable to hold $0.17, but even that could be in jeopardy given the present lack of market interest. Should the market fall below these thresholds, psychologically debilitating zones could emerge around $0.10; worse, DOGE might even add a zero, falling below the 10 cent mark for the first time in months.

XRP’s key moves

XRP is quickly approaching a pivotal point. Since early June, a symmetrical triangle pattern has been forming on the asset’s daily chart, and it is currently consolidating within it. Although neutral by nature, this technical formation is approaching its peak, so it will be about five days before a clear breakout or breakdown occurs. At the moment, XRP is trading at about $2.17, just above the 200-day moving average, which serves as a last line of defense for bullish enthusiasm.

A typical pre-breakout volatility squeeze is reflected in the price’s declining volume as it stays compressed between descending resistance and ascending support. Since symmetrical triangles are frequently used as continuation or reversal setups, they have historically produced sharp directional moves, particularly when they form following a significant trend.

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The fact that the RSI indicator is still neutral and hovers just above 45 indicates that neither bulls nor bears are clearly in control. Nonetheless, a cautious picture is painted by the declining upward thrust and the absence of aggressive buying volume.

The tightening triangle structure is what makes this five-day window crucial. The price action may accelerate quickly after it exits the formation. We might see a quick retracement down to $1.95 or even $1.80, which are the locations of historical support zones if XRP is unable to maintain the reaching trendline support and the 200-day MA around $2.09.

Conversely, breaking above the triangle’s resistance and regaining important levels like $2. 24 would refute the bearish thesis and possibly spur a rally toward the $2.40-2.50 region. In the days ahead, traders and investors should expect a spike in volatility.

This period of uncertainty will not last long because XRP’s symmetrical triangle is winding tighter and the market will react appropriately once the pressure valve opens. Either way, XRP is getting ready for a big move. 

Bitcoin is alive

After a period of consolidation, Bitcoin is finally displaying signs of strength once more. It has broken out of the $106,000 price range, which has been a psychological barrier and resistance level for the past few weeks. Although the breakout is still in its early stages, market players are becoming cautiously optimistic, particularly given that Bitcoin is currently trading at about $105,900.

The successful test and bounce off the 26-day Exponential Moving Average (EMA), which served as dynamic support during Bitcoin’s April surge, is the primary technical signal that supported this move. A possible push toward the $110,000 mark that currently delineates the upper boundary of Bitcoin’s descending triangle formation is made possible by this breakthrough, which indicates that bulls are regaining control. 

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The price action is tight and steady, indicating accumulation rather than distribution, but the volume is still a little muted in comparison to major impulsive phases. The next battleground will be the $110,000 ceiling if buying pressure continues to rise. The short-term downward trend would be invalidated by a clear break above it, which would also probably encourage institutional and retail participants to begin moving again.

The psychological and technical support at around $102,000 is the next best line of defense on the downside after the 26 EMA at about $104,500. The bullish scenario remains intact as long as Bitcoin stays above these zones. Given the persistent geopolitical and monetary policy tensions, Bitcoin’s ability to withstand market uncertainty lends weight to this breakout in terms of macro sentiment. Bitcoin is now approaching a point where volatility could increase significantly due to whales’ ongoing accumulation and the gradual waning of fear.

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