Dogecoin remains under pressure near $0.17, with falling volume indicating possible investor capitulation if support fails.
XRP trades in a tightening symmetrical triangle, preparing for a breakout as consolidation nears completion.
Both assets face crucial technical levels, with reduced volume suggesting indecision among traders ahead of major market moves.
Dogecoin is trading at $0.1704, closely hugging its key support level at $0.17. This support has prevented a steeper decline so far, but signals from the chart indicate mounting pressure. The asset has been on a downtrend since early June and never managed to break through to the resistance line on the 50-day exponential moving average and the 100-day exponential moving average.
Although there was some recovery around the price of $0.18, Dogecoin has failed to regain any significant moving averages. The 200 EMA is still far above it and indicates that the reversal of a trend is still far off. The momentum in prices is already deteriorating, and the recent attempts of buyers do not bring a prolonged phase of gains.
Trading Volume Continues to Shrink
Volume levels have steadily declined on the daily chart, a trend that often points to shrinking trader interest. This drop in volume can lead to liquidity gaps, making the token vulnerable to larger moves. Historically, declining volume during a bearish phase often signals potential capitulation by investors.
If Dogecoin loses its $0.17 support, the next technical level lies near $0.14. However, with sentiment weakening and volume drying up, even this level may not hold. A fall below $0.14 could open the way toward $0.10, potentially pushing the token into unfamiliar territory after holding above ten cents for months.
XRP Approaches Breakout as Triangle Narrows
In the meantime, XRP is exchanging hands at about $2.17 and develops a symmetrical triangle in its daily timeframe. This build-up consolidation has been in the making since early June, though it is a short way to the breakout point. The price is slightly above the 200-day MA, and this acts as support to the price.
XRP’s volume has also declined, aligning with the typical behavior of prices within a triangle pattern. The RSI is neutral around 45, indicating an unclear direction for the next move. The narrowing pattern is expected to result in a strong breakout or breakdown soon.
A move below $2.09 could test support levels at $1.95 and $1.80. On the upside, reclaiming $2.24 may revive bullish momentum and drive prices toward the $2.40 area. Volatility is expected to increase in the coming days as XRP reaches the end of its formation.
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