Recent price movements in cryptocurrencies show significant market weakness. Dogecoin, XRP, and Shiba Inu face various support levels that could determine their future movements.
Dogecoin Approaches $0.145 Support
Dogecoin is nearing a critical support level at $0.145 after a more than 35% drop from its recent high. The asset has consistently formed lower highs and lows, confirming a strong bearish trend. Important technical indicators like the 50, 100, and 200-day moving averages have become resistance after being breached.
Dogecoin remains in a depressed state due to low trading volume and little buyer interest after its fall below the $0.17 mark. The Relative Strength Index (RSI) is currently near 27, indicating oversold conditions, yet volume remains weak. Without a decisive rebound at $0.145, the token may slide further, with a potential target near the psychological level of $0.10.
XRP Breaks Triangle Support
XRP recently invalidated a symmetrical triangle pattern by moving sharply below the 200-day EMA and the key $2.00 mark. The breakdown occurred with high volume, confirming the bearish shift in market structure. For months, XRP held support within this triangle, but the current breach suggests a move from consolidation to active selling.
XRP may attempt to test the range of $2.05 to $2.10 after breaking the lower trendline. Failure to regain these levels quickly could lead to further losses down to $1.80 or below. Its daily RSI is hovering around 32, indicating that the token is reaching the oversold zone but is not ready to recover yet.
Shiba Inu Struggles at $0.000010
Shiba Inu is trading just above its long-standing support at $0.000010 following weeks of gradual decline. This level has historically offered a base for short-term recoveries, but current conditions show little buyer interest. All major moving averages remain above the current price and continue trending downward.
Trading volume for SHIB has continued to drop, indicating a lack of market participation. The RSI is now below 26, further confirming its oversold status. If the asset fails to hold above $0.000010, a sharper decline could follow, potentially adding another zero to the token's price.
In light of current market conditions, Dogecoin, XRP, and Shiba Inu face significant support levels that may impact their future prospects. The market demonstrates weakness, raising concerns about potential further losses.
