With the emergence of multiple key bullish market signals, market attractiveness has finally increased.
XRP is signaling bullishness again, but this time it is not a traditional golden cross. The chart currently presents a mini golden cross, with the 50-day EMA about to break above the 100-day EMA. This short-term formation typically signals faster upward momentum, although it is not discussed as often as the traditional 50/200-day EMA crossover, especially in the volatile altcoin market.
The chart shows that XRP has maintained an upward trend since recently rebounding from the 200-day moving average (EMA) support level of $2.08. A typical precursor to an upward or downward breakout is the convergence of moving averages in the $2.20 to $2.25 range, indicating that the contraction between the moving averages is intensifying. The current price is slightly above this convergence point, and a momentum-driven breakout could trigger subsequent gains, ultimately targeting the resistance level of $2.70.
The RSI indicator has reversed upwards, indicating that although volume remains low, buying pressure is strengthening again. Additionally, the recent candlestick structure suggests signs of accumulation at current levels. This small golden cross could signal early opportunities for investors before broader market confirmation. The technical foundation is strong due to consolidation around the long-term moving average (200-day moving average).
If XRP holds above $2.25 and validates the overlap of the 50/100 EMA, the likelihood of short-term price acceleration will increase. XRP's next move depends on whether it can maintain momentum and break through the local resistance level of $2.30. After that, the price will trend toward $2.55 or even $2.70. Although XRP is structurally positioned in one of its healthiest configurations in weeks, caution is still advised until significant improvements in volume are seen.
Dogecoin declines
Dogecoin's price hovers around $0.18, poised for another significant drop. Despite a brief rebound earlier this year, the asset has failed to break through key resistance zones, and technical pressure is increasingly mounting. Dogecoin's position on the daily chart is below a set of important exponential moving averages, all of which are trending down: the 50, 100, and 200-day moving averages. This trend supports a pessimistic outlook for Dogecoin.
Due to the failure to maintain momentum above the key resistance level of the 200-day moving average (around $0.21) in May, the asset has returned to a long-term consolidation trap. Additionally, the volume trend is concerning. Reduced trading activity suggests that both institutional and retail investor interest has waned. Meanwhile, the Relative Strength Index (RSI) has consistently approached the oversold threshold but has not yet shown any strong breakouts or divergences, indicating an impending rebound.
The downward trend since the peak in April highlights a weakening momentum. Continuous resistance at key levels and lower highs indicate that buying power is diminishing. If Dogecoin's price holds below $0.18 without a significant rebound, the next important support level will be around $0.16, followed by about $0.14, which were last tested in early March.
From a broader perspective, the failure of Dogecoin to build stronger support or attract significant trading volume is concerning. While sentiment-driven catalysts are usually the basis for asset rallies, these catalysts are currently lacking, and technical factors are dominating. Unless strong bullish momentum appears soon, Dogecoin may not only stagnate but could further decline. Investors are understandably cautious, as the current situation indicates that the Dogecoin market is fragile, with increasing risks of a downturn.
Solana gains attention
Solana is brewing a potential key technical event: the formation of a golden cross. The chart shows the long-awaited bullish crossover, with the 50-day moving average accelerating upwards and approaching the 200-day moving average. If confirmed, this technical indicator could signal the beginning of a broader trend reversal and pave the way for sustained upward momentum.
Historically, golden crosses are reliable indicators of significant trend changes, especially when supported by increased volume and positive momentum, and Solana seems to be regaining both. With a recent intra-day increase of 10%, SOL has reclaimed important ground after a pullback from April's peak and is currently solidly positioned above the short-term EMAs (like the 20 and 50). The overall structure of the SOL chart suggests that the asset is attempting to exit the consolidation range, which characterized much of the second quarter.
Due to a strong rebound from the $140 area, the current trading price is $153, and the RSI indicator is rising from the oversold area, suggesting there is still ample room for upside. Volume data further supports the view that buyers are entering at key support levels, indicating that trading interest is recovering, especially near reversal points.
Solana could re-test the $170-180 range, and if momentum holds and the golden cross is confirmed, it may push beyond $200 in the long term. Beyond short-term gains, this potential golden cross could serve as a launchpad for a longer bullish trend throughout the summer. To predict the start of Solana's next significant rally, investors should closely monitor confirmation crossovers supported by strong price movements and volume.
$XRP $SOL $DOGE
