With the ongoing fluctuations in the cryptocurrency market, investors face not only market volatility but also the need to constantly monitor the movements of major cryptocurrencies.
🎢 You might wake up one day to find #BTC struggling again, #DOGE quietly raising the flag of a 'comeback' at $0.196, #SHİB unwilling to show weakness, preparing for a brief rebound, while #Xrp🔥🔥 is already gearing up to break through the historic 'bullish flag formation,' heading straight for the $13 door! 🚀
During this period, market volatility is increasing, and every second in the crypto space could determine the trends for the coming months. Various cryptocurrencies are playing out different 'plots' at the forefront; whether you are a novice investor or a market veteran, being able to seize the trend at crucial moments will determine your success in this 'money game' of the crypto world.
Today, we will analyze the recent price trends, technical analysis, and potential opportunities and risks of these mainstream cryptocurrencies—Dogecoin (DOGE), Shiba Inu Coin (SHIB), XRP, and Bitcoin (BTC). Are you ready? Let’s step into this crypto world filled with opportunities and challenges! 🔮
Dogecoin (DOGE) oscillation and rebound: Focus on the key level of $0.196.
For Dogecoin (DOGE) investors, the current price trend is undoubtedly full of challenges.
Recently, Dogecoin (DOGE) has retreated from $0.25. From a technical indicator perspective, it seems a bit 'downcast' in the short term, but don't rush to sell! According to the liquidation heat map, Dogecoin has the potential for a rebound in the coming days! 🔍
$0.25: Dogecoin's 'Breakthrough' Path
Dogecoin encountered strong resistance at the resistance level of $0.285—this level appeared back in February this year, and it seems to remain 'hardcore.' Even so, the recent fluctuations of Bitcoin (BTC) have not exerted much pressure on Dogecoin; although Bitcoin's price fluctuated between $116,700 and $122,000, it did not have a decisive impact on DOGE. 💸
Originally, the bulls in the market hoped to hold the support point at $0.25, but unfortunately, this position was easily breached, and Dogecoin fell all the way to $0.196, becoming the next focal point. 🚨
According to the current technical indicators, Dogecoin's trend is showing bearish signals. The daily chart shows that DOGE's price range has expanded from $0.142 to $0.25, with the 50-period moving average (MA) slightly below $0.196, forming the current support range.
However, the problem is: Last week, Dogecoin did not hold the support level of $0.25, which dampened market sentiment. 📉 From the OBV (On-Balance Volume) and RSI (Relative Strength Index), the bears are in control, with the RSI having fallen below the neutral line of 50, indicating greater selling pressure.
If Dogecoin falls below $0.195, its next target may directly point to $0.142—this is the current range's low point. Therefore, in the short term, swing traders might as well be patient and wait, rather than rushing to open short positions. ⏳
However, despite the current dominance of bears, the liquidation heat map shows some interesting signals! Below $0.2, there is certain liquidity, which means Dogecoin's price may have some room for a short-term rebound. If the price can rise back to $0.23, the chances of a rebound will further increase! 🔄
It is worth noting that Bitcoin's trend will also directly affect Dogecoin's performance. If Bitcoin can hold the support level of $116,700, Dogecoin's rebound will be more confident, and the rebound space may expand to $0.23 or even higher! 🚀
For long-term investors, Dogecoin's 'false breakout' may be somewhat disappointing, but don’t lose heart! This drop may be a new opportunity to increase positions, especially as the price approaches the lower end of the range. Looking back at previous markets, Dogecoin's 'roller coaster' movements have proven that it can occasionally bring us unexpected surprises. 🌟
Therefore, although the market atmosphere is not very optimistic in the short term, from a longer-term perspective, falling to the lower end of the range may instead present a better buying opportunity! 📈
Overall, Dogecoin (DOGE)'s current trend is both exciting and a bit nerve-wracking, but it still possesses rebound potential. In the short term, market uncertainty is high, but if Bitcoin stabilizes, Dogecoin's price could very well see a small rebound, even breaking through existing resistance levels. So, don't rush to make decisions; the market's changing winds may bring us good news at any time! 💥
Shiba Inu Coin (SHIB): The battle between declines and rebounds.
In recent market fluctuations, Shiba Inu Coin (SHIB) was also not spared. From the afternoon of July 31 to noon on August 1, SHIB plummeted by 6%. The price fell from $0.000013 to $0.000012, reaching its lowest point since July 9.
This decline is partly due to Trump's announcement of new tariff policies, which affected market sentiment, especially as Bitcoin's decline intensified the pressure on SHIB. 💥
However, the price trend of Shiba Inu Coin is not entirely pessimistic. From market activity, on July 28, the number of SHIB on centralized exchanges surged, which may indicate some large investors are selling, but it also shows a strong liquidity demand in the market. In contrast, the holdings of SHIB significantly increased during the same period, reaching 4.66 trillion units, valued at $63.7 million. 💰
Additionally, Shiba Inu Coin's burning activity has intensified, with the destruction of 602 million SHIB leading to a soaring destruction rate of 16,700%, which may have an impact on the price in the future. 📉
In terms of technical analysis, SHIB's price broke through the resistance level of $0.000013, leading to significant selling. However, at the price of $0.000012, buying interest is strong, with buying volume reaching 1.19 trillion SHIB, providing support for the price. It is noteworthy that the 'inverted bullish candlestick' pattern formed in July provides hope for a rebound in the short term. This pattern usually indicates that market sentiment is gradually turning bullish, especially after a significant drop, where bulls may re-enter the market.
However, analysts point out that if the SHIB price falls below July's low of $0.00001108, this bullish rebound may encounter failure. Therefore, investors should closely monitor the current technical indicators, especially whether the price can hold the support level of $0.000012. ⏳
Ripple (XRP) dominance: The bullish pattern continues.
For Ripple (XRP), recent performance is more optimistic. Noted analyst EGRAG CRYPTO points out that XRP's market dominance is still in a 'most bullish pattern,' especially in the monthly timeframe, with the current trend showing significant upward potential. 📈
According to EGRAG CRYPTO's analysis, XRP's dominance trend follows a long-term bullish flag formation, which historically tends to break upward, with a success rate of 60% to 65%. Currently, XRP is undergoing a critical retest, and the potential for a breakout still exists.
Maintaining a dominant level of 4.5% is crucial for XRP; if it can stay at this level, XRP is expected to enter a price discovery phase. Analysts point out that after breaking through the resistance level between 4.5% and 5.75%, XRP may enter a new upward phase, with target price ranges possibly reaching between $13.34 and $17.15. 💥
From a technical analysis standpoint, XRP's dominance has tested major support levels multiple times, and after each test, it has seen significant upward movements. This trend may continue in the coming months. Additionally, XRP's Fibonacci extension levels provide clear targets for its subsequent rises, including key resistance levels at $7.27, $9.67, $13.68, and $20.04.
For XRP investors, it is very important to maintain a keen perception of market sentiment. Supported by bullish patterns, XRP's future may see higher prices, but it is equally important to pay attention to market volatility and possible risks. 🛸
Bitcoin: Challenges at the support level and future trends.
Bitcoin (BTC) has recently faced some downward pressure, with the price struggling to stay above $115,000 and even experiencing short-term pullbacks. From on-chain data, while long-term holders remain in profit, short-term market sentiment has significantly changed. 📉
According to the latest data from CryptoQuant, Bitcoin's UTXO (unspent transaction output) data indicates that many investors are starting to react to smaller price declines, which may suggest that market uncertainty is increasing. Especially from the trading data between July 11 and 13, the ratio of profitable UTXOs to loss-making UTXOs once climbed above 10,000, indicating a change in market sentiment; although most holders are generally still in profit, there remains selling pressure in the short term.
More importantly, Bitcoin's price structure is not strong. On July 10, Bitcoin's price quickly rose from $112,000 to $115,800, but this increase left almost no effective support levels, meaning that once the market loses support, the price could quickly drop. 📉
From a technical perspective, Bitcoin's current support level remains weak, especially without forming a strong support area. If the support level is breached, Bitcoin's price may quickly drop and test lower price levels.
As of the time of writing, BTC is oscillating around $113,703.
Summary: Opportunities and challenges coexist; the market is ever-changing.
With the fluctuations of mainstream cryptocurrencies such as Dogecoin, Shiba Inu Coin, XRP, and Bitcoin, investors face significant challenges. However, amidst the market ups and downs, there are still many opportunities. Whether it is Dogecoin's rebound potential, Shiba Inu Coin's technical patterns, XRP's bullish trend, or Bitcoin's support test, all provide multiple options for investors.
For short-term fluctuations, swing traders can seize rebound opportunities through precise technical analysis; for long-term investors, the current market adjustment may be a good time to increase positions. As long as you closely monitor market dynamics and seize opportunities, the future remains hopeful! 🚀
Don't forget, the market is always full of variables. Seizing the opportunity may bring you unexpected surprises amidst the changing tides! 🎉
The cryptocurrency world changes quickly, with opportunities and risks coexisting. Learning to enter and exit strategically and protecting your capital is the key to moving forward steadily and reaping wealth and growth. ✍️
Remember to DYOR, manage risks well, and wish everyone a smooth sailing in the crypto world! 🌊
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