Bitcoin price remains below $94,000, allowing the altcoin market to grow. XRP, SUI, and HBAR Coin in particular are giving interesting signals for both short-term and long-term investors. Technical analyst Yashu Gola takes a closer look at these three popular tokens.
XRP Price Prediction: Uncertainty Remains Among Traders$XRP
Following Donald Trump’s victory, XRP surged by over 400%. However, the price action has lost momentum, as if it were pointing to a potential consolidation. The weekly chart shows that XRP has pulled back from the 1.618 Fibonacci extension level, a key technical resistance level around $2.97. Historically, such levels often trigger profit-taking and pave the way for a sideways price move. The next significant support is near the 1.0 Fibonacci retracement level at $1.61. This level also coincides with the 2021 highs. This area between $1.61 and $2.97 could remain a consolidation area as the market digests gains.
Moreover, the RSI is in the overbought territory above the 76 level, which increases the possibility of a cooling trend in the coming sessions. However, the price remains comfortably above the 50-week EMA (red) and 200-week EMA (blue), indicating strong bullish momentum. XRP is not showing a definitive bullish or bearish trend at the moment. Consolidation is likely to occur between $1.61 and $2.97 in the coming weeks as traders wait for new catalysts to arrive.
SUI/USD: Strong Bullish Signal$SUI
The weekly chart of SUI/USD is indicating a strong bullish reversal, where an inverse head and shoulders pattern is seen. A breakout of this pattern would be confirmed if the price breaks above the neckline resistance around $2.62. When determining the target in this pattern, traders take into account the maximum high of the setup added above the neckline. In this case, the neckline at $2.62 is a significant resistance point. Applying the same principle to the SUI/USD chart, the upside target for early 2025 is around $9.56, which is at the 2.618 Fibonacci retracement level. However, the RSI is in overbought conditions, meaning that the price could consolidate near $2.62 or retest this level before resuming its upward move.
HBAR Coin: Consolidation After Trump Pump$HBAR
HBAR Coin has entered a consolidation phase after experiencing a “Trump Pump” rally of over 800%. The price is currently trading between the 0.382 Fibonacci retracement level at $0.24 and the 0.618 Fibonacci level around $0.37. This range could act as a neutral zone for the token, but it maintains its broader bullish structure. The current overbought levels of the RSI around 75 could allow time for a cooling period.
The golden cross pattern indicates that the 50-week EMA ($0.11) is crossing above the 200-week EMA ($0.10), which could be a sign of a long-term rally. This pattern has historically been seen before long-term upward moves. However, caution is warranted as short-term corrections or consolidations are common after such steep increases. For now, the 0.382 Fib level is providing significant support, while the 0.618 Fib level acts as immediate resistance. A break above $0.37 could see the HBAR coin price retest the next major resistance near the 0.786 Fib level ($0.46). However, a break below $0.24 could call for a deeper correction.