Dogecoin, XRP, Binance Coin Value Evaluation: June 09 – AMBCrypto Information


Dogecoin price continued to fall, trading at $ 0.3280. The asset experienced a period of consolidation as it tried to recover from a period of declining volatility. The spot market indicated an ongoing tussle between buyers and sellers and kept the price within its currently limited range.


Source: DOGEUSD on TradingView

The 4-hour chart saw the DOGE price drop over the weekend. The chart recorded two consecutive declines pushing DOGE to $ 0.3288 from $ 0.4480. As the price moved sideways, the support was marked at $ 0.2964. However, volatility was high, suggesting that another price swing could take place.

When we saw a scramble between buyers and sellers, downward pressure was evident as the stochastic RSI stayed near the oversold zone. Although the RSI line had crossed the signal line, suggesting buyers were trying to fight back, it did not help price break out of its current consolidation.

Meanwhile, the MACD indicated that the bear market has remained high over the past week and the MACD line has fallen down.


Source: XRPUSD on TradingView

The XRP market lost support at $ 0.988 and traded at $ 0.8718. The low price could find next support at $ 0.7774, but not much has been traded at this level according to the Visible Range indicator.

The histogram in the graph above showed that the control point was $ 0.9966 for the current period. This was a very high price point considering XRP has dropped to $ 0.8727. With the market remaining extremely bearish at the time or in the press, traders may have to wait for signs of a reversal. Meanwhile, Directional Movement Index [DMI] noted high downward pressure on the XRP market.

Binance coin [BNB]

Source: BNBUSD on TradingView

Binance Coin also saw a wave of sellers pulling out of the market. However, the BNB also saw sideways momentum. The asset traded at $ 360.37 with the parabolic SAR markers aligning above it, signaling high downside pressure.

BNB buyers, however, pushed the price higher as the relative strength index rose in value. This indicated the rise in buying pressure and when the RSI hit 45 it was about to reach equilibrium. With increasing momentum, the price could consolidate further at the current level.

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