From Investing.com: 2024-06-29 01:00:24

Bitcoin (BTC) dropped below $60,000 after losing 14% of its value from the $71,000 peak. However, signs of a possible reversal are emerging as BTC has hit the lower limit of the channel.

BTC is now at a historical support level of $58,000, with the 200-day moving average suggesting a potential rebound is near. Trading volumes have increased post-drop, indicating buyer interest and a possible price turnaround.

BTC is currently below the 100-day and 50-day moving averages, but breaking above them could signal a bullish momentum shift. However, without a distinct catalyst, like an ETF push, significant gains may be limited in the near term.

XRP is attempting a reversal to break a descending trend by surpassing the 26 EMA and establishing steady upward movement. To indicate a possible trend change, XRP must breach the 26-day EMA barrier.

Limited trading volume has hindered XRP’s upward momentum, despite sporadic spikes. Higher buying volume is key to sustaining the reversal attempt. The RSI shows XRP is in a neutral zone, suggesting room for upward movement without being overbought.

Dogecoin is eyeing the $0.13 threshold and the 200 EMA level in the coming days to confirm a bullish trend. Breaking above the 200 EMA could signal a reversal, but low trading activity may impede significant gains.

For Dogecoin to successfully surpass the 200 EMA, it needs to generate strong buying pressure. Trading below key moving averages indicates a downward trend, but a breakthrough could be bullish. The RSI being neutral implies potential for upward movement without being overbought.

Read more at Investing.com: Bitcoin (BTC) Can Hit $75,000, Here’s How, Another XRP Reversal Attempt, Dogecoin (DOGE) to Test out $0.13 Again, But There’s Catch By U.Today