If all the stars align, the market may recover soon.
With XRP clearly breaking above the 50-day exponential moving average, it has finally broken through one of its most crucial resistance levels. The 50-day EMA had previously kept XRP trapped in a lackluster sideways channel, failing to produce a rebound for several months, which limited any significant upside potential. However, this new trend marks a shift in momentum and may signal the beginning of a true recovery.
This innovation goes beyond mere technical aspects. Given XRP's long stagnation, breaking this barrier could signal the start of a long-term bull market. The 50-day moving average (EMA) has historically been used to distinguish between bullish and bearish sentiment, and a rebound in the 50-day moving average is often one of the primary signals that the market is preparing to restore its risk appetite.
XRP closed today above $2.28, showing strong momentum: bears are finally starting to lose their edge. Additionally, the trading volume makes this trend appear more credible. The increase in trading activity indicates that this is not just a short squeeze or a one-off spike due to lack of liquidity.
The Relative Strength Index (RSI) has risen to 57, indicating that buyers seem to be quite engaged, and momentum is steadily shifting. XRP's price movements are contracting above all major moving averages, which is particularly encouraging. If this rebound maintains its momentum, a golden cross may occur—where the short-term EMA crosses above the long-term EMA. The 100-day and 200-day EMAs are both within reach.
The next target is clear: to return to $2.50 and ultimately retest the psychological level of $3. Now, this structural resistance has finally been broken, making a true reversal of XRP possible. This breakthrough may mark the beginning of a long-awaited rebound, rather than just a technical note.
The push from Dogecoin
After several weeks of declining prices, Dogecoin finally brings a much-needed sense of optimism. As of now, Dogecoin has clearly broken above the 26-day moving average on the daily chart, marking a key technical milestone that could pave the way for a larger recovery. For most of June, Dogecoin has been in a controlled downtrend, failing to reclaim the short-term moving average.
Due to ongoing weakness, this meme asset has failed to establish any bullish momentum and has been trapped below the 26-day moving average. However, today's candlestick has been different, breaking through this dynamic resistance level and achieving a healthy gain of 2.3%, with increased trading volume, indicating that buyers are participating.
Historically, Dogecoin (DOGE) has shown similar movements in the early stages of its rise: steadily climbing to the 26-day moving average, followed by a breakout candlestick, with market sentiment shifting from neutral to cautiously optimistic. Returning to the 26-day moving average is clearly the first step in ending the prolonged downtrend since May, although the price remains below the more significant 50-day and 100-day moving averages, which continue to act as resistance levels. Technical momentum indicators are also improving.
The daily RSI has risen to 51, returning to neutral territory but has escaped the oversold state. Therefore, Dogecoin still has more room to rise before reaching overbought signals. The $0.19-$0.20 range is where the 50-day EMA and the 100-day EMA converge with the horizontal resistance formed in early June, making it an important level to watch moving forward.
If Dogecoin breaks through this range, it could potentially retest the significant psychological level of $0.22. Dogecoin is finally showing signs of recovery. While a single bullish candlestick does not guarantee a long-term reversal, breaking the 26-day moving average is an important technical advancement that could help regain momentum and boost confidence in Dogecoin's upward potential.
Ethereum breaks through
Ethereum has just achieved its largest breakthrough in months, crossing the $2,600 threshold for the first time since May. After several weeks of consolidation and a lackluster price trend, this surge is not merely a fleeting technical response; rather, it is a clear sign that market momentum has finally turned bullish.
ETH has been consolidating between the 50 and 100 EMAs for most of June and is now closing above all major moving averages, including the 200 EMA, which has restricted the upward momentum since mid-June. Breaking this level is crucial, as it not only turns significant structural resistance into support but also indicates that market participants are ready to take on greater risks in hopes of future profits.
A significant increase in volume coinciding with the breakout is a key indicator that this is not just a fleeting moment. The RSI has strongly entered the bullish zone, approaching 58 points, suggesting that there is still room for continued upward movement before the market reaches an overbought state.
Now, Bitcoin's price has rebounded to $2,600, and traders should pay attention to the upcoming key resistance levels. If the current momentum continues, the next psychological barrier will be $3,000, which would represent a complete recovery of Bitcoin's price since the decline that began at the end of March.
Although this breakthrough is clearly positive, traders should remain vigilant, as a retest of the $2,500-$2,550 range may confirm support. If buyers bounce back from the pullback, the likelihood of continued upward momentum will increase.
