Grab your popcorn, folks, because we're diving into the wild world of cryptos this week, featuring the likes of Ripple, Binance Coin, Solana, Dogecoin, and Maker. Get ready for some twists and turns!
First up, Ripple (XRP) started the week on a high note, but things took a nosedive by Wednesday, ending with a 3% dip. If the buyers don't make a comeback soon, XRP might just flirt with that 48 cents support line again. Since September, XRP's been on a bit of a slippery slope, struggling to stay above 60 cents. With a series of lower highs and lower lows, it seems to be on a downward journey until it finds a comfy base where buyers can regroup. Eyes are on that 54 cents resistance, but if the volume keeps dropping, we could see some sideways action until something gives.
Binance Coin (BNB) tried to break through the $600 barrier but got the cold shoulder from the bears, resulting in a 3% weekly loss. It's been a recurring theme for BNB, with attempts to breach $600 getting swatted away. Right now, BNB's playing the waiting game in a narrowing price range, and as the space tightens, a breakout seems inevitable. The momentum isn't giving us clear signals, but with the daily MACD showing a bearish cross, sellers might get a little bolder soon.
Solana (SOL) had a brief moment of glory, rallying to $183 before sellers swooped in, dragging it back to the $164 support level, marking a 4% decline this week. It's crucial for buyers to stand their ground at $164, as any weakness could undo October's progress. The daily MACD just signaled a bearish cross, hinting at a potential seller comeback. If SOL loses its footing at the key support, we might see it dip to $160 or even $150. But if buyers hold strong, Solana could rebound and resume its upward journey.
And then there's Dogecoin (DOGE), strutting its stuff with a whopping 13% price increase, one of the few coins to finish in the green. After breaking free from the 14 cents resistance, buyers swarmed in, propelling it upwards. The rally paused just shy of 18 cents, but this breakout is a big deal, signaling DOGE's potential to climb even higher. The next big hurdle? The 22 cents resistance. With its bullish momentum, Dogecoin could be the talk of the town in the coming weeks.
Rounding off the week, Maker found its groove after testing the support at $1,000, bouncing back with a 13% rally. The current challenge is the $1,270 resistance, and if buyers keep the momentum, their sights are set on $1,500. Maker's been on a long downtrend since April, but breaking above $1,500 could be the turning point for a sustained recovery. It's a promising start with strong volume, but consistency is key, or it might just be another fleeting bounce in the downtrend saga.
Stay tuned, crypto enthusiasts, because this rollercoaster ride is far from over!
