XRP, Binance Coin and Dogecoin Price Analysis: 09 August
As soon as Bitcoin started to trade in the green after it recovered and touched $45,605, altcoins climbed up on their charts. XRP headed up north to touch the $0.823 resistance level, BNB rose by 1.5% and finally, Dogecoin bounced back from its $0.239 support level and moved close to the $0.267 price ceiling.
At $0.815, XRP accounted for 0.5% retracement, within the hour, at press time. Over the last 24 hours, the coin lost 6% of its value, however, it showed signs of recovery. The closest resistance that the coin might try to test for the second time in two days is at $0.823.
Technical readings pointed to signs of recovery because buying strength shot up since the Relative Strength Index was headed towards the 70-mark. Chaikin Money Flow simultaneously went above the 0.20 mark implying a pick up in capital inflows over outflows.
Conversely, Awesome Oscillator still flashed increased bearish pressure in the market since red signal bars were visible at press time.
Binance Coin (BNB)
Binance Coin also registered recovery on its charts over the last 24 hours. The coin was priced at $355 and it rose by 1.5% at press time. The uptrend in prices would mean that BNB could test the $358 level over the upcoming trading sessions.
Buying pressure increased in the market simultaneously, the Relative Strength Index was close to the 60-mark. The Awesome Oscillator and MACD however, still displayed bearish sentiments with red signal bars above the midline.
In case the prices fails to maintain the uptrend, the prices would fall to the immediate support level of $333.28.
Dogecoin recovered 0.8% at press time, while its prices stood at $0.257 as it neared to test its $0.267 for the second time over the last 48 hours.
The technical formation of Dogecoin gave off mixed signals, the MACD indicator noted the rise of green histograms implying bulls taking over. Conversely, Awesome Oscillator still noted red signal bars.
Market volatility, however, still showed the chances of surging as the Bollinger Bands opened up. In case of a fall in prices, the support level for DOGE lay at $0.239 which bounced back from today itself.
Subscribe to our NewsletterSource