The price of Bitcoin has fluctuated up and down many times in the range of 58000-62000. For those who bought the bottom on August 5, you can ignore the short-term K-line fluctuations and continue to hold firmly.
At present, the 61000-62000 range has been touched and then fell back four times. Although many people have placed short orders in this area, the funding rate has been negative for many consecutive days, and the decline each time is not large. With the increase in the number of short orders, the real breakthrough may not be far away.
XRP is about to break out? Bullish triangle suggests a potential increase of 5,261%!
Amid the current market uncertainty, analysts’ latest assessment of XRP points to a potentially explosive growth pattern. Over the past few years, XRP has formed a bullish symmetrical triangle, a pattern that has gradually emerged since falling from the high of $1.96 in early 2021.
The chart shows that XRP has experienced a series of lower highs and higher lows since then, creating a compressed range. As the apex of the triangle approaches, price volatility may increase significantly. The extended consolidation period suggests that a breakout of this pattern will be dramatic and could push XRP price to $32, a 5,261% increase from current prices.
Key resistance levels include the all-time high of $3.5 in January 2018. Currently trading around $0.5970, XRP recently managed to break out and hold above the 50-day EMA ($0.5563), which suggests that the bulls may be gaining control.
If XRP can break through the resistance level of $0.6597, it will be expected to rise further, with short-term targets of $0.7248 and $0.8300. On the downside, support levels are at $0.4492, $0.3842, and $0.2789, which will be crucial if XRP encounters selling pressure.
Tron price hits 3-year high, can TRX hit 0.3?
Tron (TRX) has recently broken through and rebounded, with its price hitting a three-year high and its market value rising to $13.9 billion, successfully ranking among the top ten cryptocurrencies in the world. This wave of growth benefited from Justin Sun's strong interest in the meme coin community, which promoted the expansion of Tron's user base and the rise in prices.
Currently, Tron is trading at $0.1604, which is a rebound from the level three years ago and has risen 35% in the past 14 days. Since the beginning of 2023, the price of TRX has doubled, climbing from a low of $0.048 to the current $0.1604, surpassing the weekly high of $0.1434 in May 2021. Analysis points out that with the continuous expansion of the Tron ecosystem and the strengthening of on-chain bullish signals, TRX is expected to hit the resistance level of $0.20 or even $0.30.
Fibonacci retracement analysis shows that resistance levels may be at $0.20 and $0.2967. With the increase in market volatility and the expansion of the Tron community, the TRX price trend may rise further in the future.
Today's article ends here. We are currently in a bull market, and the situation is turbulent. We share passwords every day. If you don't know what to do in a bull market, welcome to follow us. Bull market spot passwords and layout strategies can be shared free of charge.
