Although the cryptocurrency market seems to show a quiet movement, the technical signals of major coins are not ordinary. The recent charts of XRP, Doge, and ETH suggest that a significant price movement could occur at any time. Market participants need to be prepared for a potential surge or drop in liquidity once again.
First, in the case of XRP, a 'moving average convergence' phenomenon has been detected where the 20-day, 50-day, and 100-day moving averages are drawing closer. This is an indicator that often appears as a precursor to sharp price fluctuations. Currently, XRP is maintaining a local upward trend, but the lowered trading volume suggests underlying market energy. If XRP strongly breaks through the downtrend line resistance, it could rise to the $3.40-$3.50 range in a short period. Conversely, if it fails to break through, there is a risk of correction down to $3.06 or $2.82.
Doge is facing a potential 'double top' pattern. After failing to break through $0.30 in late July, it showed signs of reversal with lower highs around $0.27-$0.28 in early August. From a technical perspective, while a golden cross where the 50-day moving average crosses the 200-day moving average is imminent, the possibility of continued rise seems low due to price momentum slowdown and lack of trading volume recovery. The support line is located between $0.21-$0.22.
ETH recently continued its strong upward trend by breaking $4,400, but the RSI's falling divergence is interpreted as an ominous signal. While the price is making higher highs, the RSI is forming lower highs, revealing ascending fatigue. Additionally, the decrease in short-term trading volume supports weakening buying pressure. If ETH falls below the short-term support line of $4,250-$4,300, a downward adjustment to the $3,950-$4,000 range may be inevitable. Conversely, if trading volume recovers and invalidates the RSI divergence, further rise is possible.
In short, while all three coins appear to be in a stagnant state, technical analysis warns that a significant change is imminent. Investors must carefully observe key indicators such as trading volume trends, moving average convergence, and RSI, and risk management for short-term surges or drops is essential. The market may be much less stable than it appears on the surface.
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