The crypto market surged with the jump in the major crypto assets like Bitcoin and Ethereum. Ethereum price smashed all the resistance levels to form new highs at $1557 in the early hours of trading. However, Bitcoin price also had a major breakout and surpassed the $35000 levels, due to which most of the altcoins had a bullish divergence.

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Amid the uptrend of most of the crypto assets, some of the popular assets witness a surge that, some of the coins experience a slight pullback. The assets like XRP price, ADA price, and DOGE price appear to have halted their bull rally to some extent.

Dogecoin(DOGE) Price Drops by Nearly 4%

Doge price

Dogecoin price had spiked enormously by more than 800% and entered the top 10 cryptocurrency list. Yet a massive plunge dragged the price down more than 70% and trending within a similar range.

The DOGE price at the time of writing is $0.03221 with a drop of nearly 2.96%. However, the price is expected to reclaim their previous positions very soon. Yet the price that rose like a monster did not crash as many expected which indicates a bullish trend incoming for the asset. 

Technical Specifications

  • The current resistance levels are formed at $0.0477, after breaking these levels, the next levels to be tested are at $0.06807 and the final levels are formed at the ATH at $0.7797.
  • The support levels are formed at $0.02988, failing to sustain the price may even drop to its initial levels around $0.02324.
  • The technical indicators are presently neutral.

XRP Price Drops More Than 7%

XRP price

The XRP price rallied and had a massive rally and entered the top 3 cryptocurrency ranking, however, appeared to have been manipulated by a group. This group aimed to rally the price to more than $1. 

As the attempt to spike the XRP price to $1 was somewhat successful, yet, at certain point, it appears that many whales closed XRP positions. And as a result there was a steep decline in the price within a couple of minutes. 

The spike clearly points out towards the artificial pump and the dump, and hence it was short-lived. At the time of writing, the XRP price is $0.3720 with a decline of 6.05% in the last 24 hours. 

Technical Specifications

  • The resistance levels are formed at the recent highs of $0.76
  • The support levels are formed at the initial levels at $0.2850
  • The indicators point out to a ‘buy’ signal

Cardano(ADA) Price Swings

 

ADA price

The cardano price appeared to be poised to touch the lost positions, yet, is swinging within a very narrow trend. The possibility of a plunge also cannot be ignored, however, a significant rally may also be incoming.

The price had broken the support line and had plunged massively below $0.3 levels. However, a bullish momentum pushed the price above $0.4 and successfully maintained above the levels. In the recent couple of hours, the traders might have just begun liquidating the holdings and hence pulling back the price. 

Nevertheless, some buyers are attempting hard to keep the price above the levels and avoid further slippage. At the time of writing, the ADA price is $0.4172 with a drop of just 0.07% which is expected to recover shortly.

Technical Specifications:

  • The resistance levels are formed at $0.4546
  • The support levels are formed at $0.3875
  • The indicator points out towards a ‘buy’ signal

This article was originally published by coinpedia.org on 2021-02-03 08:16:10. It can be viewed in it’s original state here: Source link .

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