Bitcoin's "Santa Rally" may be risky, XRP is stable but vulnerable, DOGE hints at bearish drop.
From Investing.com
December 26, 2024 11:00:20 PM:
Bitcoin’s “Santa Rally” is showing signs of danger, with concerns of forming a lower high and downtrend continuation. Key levels to watch are $104,000 for resistance and $84,500 for support. Rising selling pressure and mixed volume indicators suggest a potential trap for investors looking for gains above $100,000.
XRP remains under pressure in a bearish channel, testing its 26 EMA for stability. Declining trading volumes and lack of conviction from investors make XRP vulnerable to selling pressure. A breach of the 26 EMA could lead to a decline towards $1.80-$1.50 range, emphasizing the importance of breaking above $2.50 resistance.
DOGE’s low trading volume indicates momentum is waning, with difficulty breaking key resistance at $0.34. Low volume during a downtrend could signal the end of selling pressure, potentially leading to a reversal or retracement. Support at $0.28, with a possible recovery towards $0.37 if bulls intervene.
Read more at Investing.com: Bitcoin (BTC) ‘Santa Rally’ Might Be Dangerous, XRP Critical But Stable, Dogecoin (DOGE) Volume Hints at Bearish Drop By U.Today