XRP Shows Signs of Hesitancy as Ethereum and Dogecoin Continue to Surge

XRP’s Price Hesitation

XRP Facing Psychological Resistance at $3

XRP’s recent price surge has brought it to levels not seen in years. However, a possible reversal candle on the daily chart suggests a slowing trend. The $3 resistance level has historically been challenging for XRP, often leading to profit-taking by traders. The reversal candle, with a long wick above the body, indicates strong selling pressure at these high levels. Despite recent breakouts from key moving averages, such as the 50-day and 200-day EMAs, concerns arise due to the asset being significantly overbought with RSI readings above 88.

Ethereum’s Potential Surge

Ethereum Approaching $4,000 Mark

Ethereum’s current price near $3,610 signals a potential surge towards the crucial $4,000 mark. The cryptocurrency has recovered above critical moving averages and shows bullish indicators on the chart. With the 50-day EMA crossing above the 200-day EMA, a golden cross pattern points to continued upward movement. Ethereum’s price remains above the 21-day EMA, indicating strong support levels. Increasing volume levels and trader interest suggest confidence in Ethereum challenging $4,000, although caution is advised as RSI levels near overbought territory at 65.

Dogecoin’s Flag Pattern

Dogecoin Consolidates in Ascending Flag Pattern

Dogecoin displays an ascending flag pattern on its daily chart, signaling a bullish continuation after a November rally. Trading above the 21-day EMA, DOGE is currently around $0.418. A breakout above the flag’s upper trend line at $0.44 may extend the bullish trend, potentially targeting $0.50 and $0.60 price levels. However, failure to maintain the 21-day EMA could lead to a retest of support at $0.36. Short-term pullbacks are possible with RSI hovering near the overbought zone at 71, reflecting increased retail interest in DOGE.