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XRP, IOTA, Dogecoin Price Analysis: 07 November

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Many altcoins registered strong gains in the past few days as their longer-term downward trend appeared to be halted or even reversed in certain cases. XRP faced an important level of resistance, and a close above the level would signal bullish strength. Dogecoin also appeared poised to move above a level of resistance it has been rejected from multiple times, and IOTA buyers appeared to be in the ascendancy once more.


XRP, IOTA, Dogecoin Price Analysis: 07 November

Source: XRP/USD on TradingView

XRP broke to the downside after forming a rising wedge pattern (white), but found support at $0.232. A dip beneath the support help pushed the coin upward.

Alongside many other crypto-assets, XRP also posted strong gains in recent days as it surged from $0.232 toward resistance at $0.266.

The RSI was in overbought territory and indicated that a correction was near in the short-term. Hence XRP can be expected to test resistance and experience a minor pullback before another move upward.


XRP, IOTA, Dogecoin Price Analysis: 07 November

Source: IOTA/USD on TradingView

IOTA was moving within a descending channel, and the loss of $0.235 support could have seen bears pushing the price as low as $0.218. However, the bullishness around Bitcoin and Ethereum emboldened IOTA bulls.

The OBV showed that its ‘floor’ (orange) over recent weeks was not broken even as IOTA lost a level of support, suggesting that the volume of IOTA being sold was not as heavy as the price would suggest.

The bears were overwhelmed as a wave of buyers entered the market in the past few days. IOTA can face resistance at the $0.288 region if it moves past the $0.27 level.

Dogecoin [DOGE]

XRP, IOTA, Dogecoin Price Analysis: 07 November

Source: DOGE/USDT on TradingView

The Awesome Oscillator showed that the bearish momentum behind DOGE waned (orange), even as the price made a lower low. This divergence between price and momentum presaged some gains for DOGE.

Combined with a surging ETH as well as a shift in sentiment toward bullishness in the altcoin market, DOGE could be set to make further gains.

It has a level of resistance at $0.00285, a level it has struggled to rise above after dropping beneath it in early September.


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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