XRP, Dogecoin, Aave Worth Evaluation: January 09 – AMBCrypto Information

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When Bitcoin hit its nearly 15-week low on January 8, the crypto fear and greed index plummeted to 10 points on the same day. As a result, XRP, Dogecoin, and Aave’s short-term specs showed a bearish trend. But now, after a bullish divergence on the RSI, they are showing increased purchasing power.

Only a sustained closing price above their immediate hurdles with increasing volumes can confirm the halt in the broader sell-off.

XRP

TradingView, XRP / USDT

Since its three-week high on December 23, the alt has been oscillating in a downward (white) channel. This price marked a retracement of 21.37% and found support near the Fibonacci level of 50% on Jan 1st. Then, although XRP reversed, the patterned breakout failed to hold above the $ 0.8431 level.

After hovering near its control point (red) for nearly two days, XRP correlated with a wider sell-off and saw one falling wedge (yellow) on the 4-hour chart. Another 11% decline on Jan 5th caused the alt to lose its 61.8% Fibonacci support. Now that the bulls are securing five month support at the $ 0.7292 level, they are trying to regain the predicted gold level.

At the time of publication, XRP was trading at $ 0.752. the RSI jumped from the 19 mark and managed to sway over the 40 mark. For the past few days the RSI has had one bullish divergence with its price action (white trend line).

Dogecoin (DOGE)

TradingView, DOGE / USD

After trading in range for nearly three weeks, DOGE flipped the $ 0.1623 level from support to resistance. It fluctuated in a side channel (white) for almost a week until it fell 14.93% and hit its five-week low on January 8th.

With the $ 0.1456 support now strong for nearly nine months, DOGE reversed to test the upper channel (immediate resistance). This level also coincided with the 20-SMA (red). The last two green candles saw a sizeable spike in volume, suggesting a strong move higher. And so it happened that the OBV also saw a sharp point.

At press time, DOGE was trading below its 20-50-200 SMA at $ 0.1518. the RSI saw a significant recovery, but did not manage to exceed the 44 mark. Like XRP, DOGE RSI saw a bullish divergence (white) in price movement.

AAVE

TradingView, AAVE / USD

The Alt reversed its descent from critical long-term support of the $ 170 mark on December 20. It posted a staggering 76.79% ROI (from December 20th low) until it hit its six-week high on December 28th, finding resistance near the Fibonacci level of 61.8%.

For the past few days, AAVE has seen a falling wedge (green) and found support at the $ 202.23 level. With a recent bullish divergence between the RSI and price action, AAVE managed to oscillate above its 20-200 SMA.

At the time of publication, AAVE was trading at $ 217.87. the RSI swayed below the half-line and flashed an upward trend. Despite a significant slump OBV maintained its short-term support level. This value indicated superior purchasing power.


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