With the BTC price achieving the $100,000 mark, the volatility in the cryptocurrency market has recorded a new high. Moreover, the altcoin market has experienced a significant increase, with top altcoins recording a mixed price sentiment.
As the crypto market records a new high, is this a good time to stack altcoins to maximize future gains? In this article, we have covered the short-term possibilities of Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE) crypto tokens.
The ETH price has jumped 7.84% in 24 hours, resulting in it retesting its $3,900 level. Moreover, with a trading volume of $57.74 billion, the largest altcoin by market cap is currently valued at $464.169 billion.
The EMA 50/200-day has recorded a Golden Cross in the daily time frame. This indicates a positive outlook for the ETH coin price during the upcoming time.
Further, the Relative Strength Index (RSI) is on the verge of experiencing a bullish crossover with it heading toward the overbought range in the 1D time frame. This suggests an increase in the buying pressure for the altcoin in the market.
If the bullish sentiment sustains, the Ethereum price will head toward its resistance level of $4.5k. On the flip side, if the bears outrun the bulls, this could result in the altcoin retesting its support trendline of $3,200 this month.
With a weekly surge of ~62% and a trading volume of $24.653 billion, the XRP price has reclaimed the $2.34 mark. Moreover, with Gary Gensler resigning as the SEC chair, this altcoin has gained significant attention from the crypto space and is on the path of achieving a new ATH.
The Moving Average Convergence Divergence (MACD) has recorded a constant green histogram, with its averages showing a significant rise in the 1D time frame. This suggests an increase in the buying-over-selling pressure.
Maintaining its bullish action could push the XRP coin price toward its upper resistance level of $3.00. On the contrary, if a bearish trend reversal occurs, the Ripple token could plunge toward its lower support level of $2.00.
Also, read XRP Price Prediction!
Amid increased market volatility, the Dogecoin price has maintained its bullish price rally by adding 4.21% in 24 hours and 3.69% in the last seven days. Moreover, with the increasing green candles, this memecoin eyes to retest its multi-year high before the year concludes.
The RSI indicator continues hovering above the overbought range in the daily time frame with its average trendline experiencing a similar price action. This indicates that the largest meme coin may continue gaining value this week.
If the market favors the bulls, the DOGE price will breach its $0.44 mark and prepare to test its upper high of $0.50. Conversely, if the bears regain momentum, this memecoin could plunge toward its support level of $0.325 this month.
Wondering when will DOGE price hit $1? Read CoinPedia’s Dogecoin Price Prediction and subscribe to us to stay updated on the latest crypto news!
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