• Potential Bitcoin Hack

  • $XRP Targets high levels

Dogecoin recently set an unfortunate record: the longest losing streak in its recent history, with seven consecutive red daily candles. It's understandable that many investors are concerned about the meme cryptocurrency's depressing short-term technical outlook due to its prolonged decline.

The chart shows that $DOGE has now fallen below the 50, 100, and 200 exponential moving averages, the three major moving averages that confirm the downtrend across all major trend indicators. After its previous attempt to reclaim the $0.22 area, the asset was unable to maintain its upward momentum and declined to the $0.16 area.

The decline in trading volume is even more worrisome, highlighting the market's lack of bullish commitment. While it hasn't yet reached the point where sharp rebounds typically occur, the Relative Strength Index (RSI) is hovering around 34, close to the oversold zone. One potential bright spot amid all this negativity is that Dogecoin is currently trading at the psychological support level of $0.16, a historical high.

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This range has acted as a turning point on several occasions in the past, acting as both support and resistance depending on market sentiment. With the larger cryptocurrency markets showing slight signs of stabilization, a technical rebound isn't impossible if bulls intervene.

A rebound may be possible, but it is unlikely to halt the overall trend unless it is accompanied by a sharp increase in volume and a return above the $0.18-$0.19 range. DOGE remains stuck in a bearish structure with little support until then.

Potential Bitcoin Hack

The narrow range in which Bitcoin is currently trading indicates a potential breakout that could cause a significant shift in the market. The chart shows Bitcoin sandwiched between two important moving averages, with the 50-period EMA acting as support and the 26-period EMA acting as resistance. This type of consolidation often occurs before a surge in market activity, as traders build positions in anticipation of a breakout.

The current price action indicates selling pressure from above, with a series of lower highs and the 50-period exponential moving average below providing strong support after serving as a springboard for previous upward moves. When the market is gaining momentum, this compact formation between converging exponential moving averages typically leads to strong directional movement.

With the RSI hovering just above 50, the market is neutral—not oversold, but also lacking any strong upward momentum. Bitcoin could return to the $110,000 range if it breaks above the 26 EMA and the descending resistance trendline, which could signal a return to bullish dominance.

On the other hand, a break below the 50-day EMA and psychological support around $103,000 could pave the way for a sharper correction toward the $95,000-$98,000 range. Overall, Bitcoin is in a classic pressure cooker configuration. Although currently contained, the range is narrowing, and a surge in volatility appears likely.

Confirmed volume and a clear breakout of resistance or support lines are indicators investors should watch. Whichever trend prevails will likely determine Bitcoin's direction in the next quarter.

XRP targets higher levels

With its price action forming a narrow symmetrical triangle, one of the most telling technical patterns when it comes to predicting volatility, XRP is approaching a crucial inflection point. A major breakout, or breakdown, is imminent, as indicated by this triangle, which consists of a series of lower highs and higher lows. It also demonstrates a continued decline in momentum.

With several moving averages closely surrounding it, XRP is currently trading around $2.13. Short-term upward momentum is being limited by the 26- and 50-period exponential moving averages converging above the 200-period exponential moving average (black line), which remains a strong base of support. The decreasing trading volume on the chart supports this pattern's indication that traders are waiting for a clear move.

Symmetrical triangles don't usually show a trend on their own. However, the proximity to the 200 EMA and the recent series of higher lows suggest that bulls remain active in XRP's case, albeit cautiously. If XRP can overcome the triangle's descending upper boundary and overcome resistance around $2.25-2.28, it could spark a rapid rebound toward $2.50 and possibly higher.

Conversely, if support around $2.09-$2.10 fails to hold, a deeper pullback is likely, with potential downside targets near the $1.95-$2.00 area. At around 46, the RSI is neutral, meaning it could move in either direction. The main conclusion is that XRP volatility is depressed and approaching a breakout point.

Regardless of who prevails in this impasse, price action is likely to explode. Watch for spikes in volume for early signals of trend confirmation and be prepared for increased activity.