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XRP, Dogecoin, Chainlink price analysis: 30 August

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XRP was trading near an important zone, above which is possible safety. Failure to close above this level could mean XRP might be in store for a significant drop. Chainlink showed strong bullish momentum that could propel it towards ATH once more. Dogecoin lacked notable momentum but could reclaim a resistance as support in the coming days.


XRP, Dogecoin, Chainlink Price Analysis: 30 August

Source: XRP/USD on TradingView

XRP is the third-largest cryptocurrency, with a marketcap of $12.483 billion. Recently, Japanese giant SBI Holdings announced the addition of CFD’s for XRP.

XRP was trading at a level of significance, as highlighted by VPVR. The zone at $0.276 and above has seen significant XRP trading. If XRP does not settle above this level, it could drop to $0.24.

After reaching $0.27, the price increase by $0.006 was achieved. Moreover, 50 EMA (yellow) and the 100 EMA (pink) will act as resistance.

Dogecoin [DOGE]

XRP, Dogecoin, Chainlink Price Analysis: 30 August

Source: DOGE/USDT on TradingView

DOGE bounced off support at $0.00311 to trade at $0.00329 at press time. However, 20 SMA (white) was below 50 SMA (yellow), showing short-term bearishness remained. Yet Parabolic SAR dots were beneath the candle and rose quickly, suggesting bullish momentum.

Price could reach resistance at $0.00335, or 50 SMA, and then fail to breach resistance. This would denote a continuation of the bearish trend for the past two weeks.

A breach of resistance will signify an imminent short-term trend reversal.

Chainlink [LINK]

XRP, Dogecoin, Chainlink Price Analysis: 30 August

Source: LINK/USD on TradingView

LINK reached ATH at $20 before dropping to $13 and maintained some bearish outlook, as shown by the trendline (white). LINK ascended beyond this trendline retested it, and support stood at $14.1.

$18 is a psychological resistance. It is possible LINK could go past $18, or it may get rejected there to retest $16.8 and make another attempt to breach resistance.

Directional Movement Index (DMI) showed the beginning of a strong bullish trend for LINK in the past few hours. ADX (yellow) was above 20, denoting trend strength. +DMI (blue) was also well above -DMI (pink).


Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.
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