While Bitcoin did not make much recovery post the Jun 18 dip, some other altcoins struggled to do the same. XRP lost about 5.2% of its price as well as 5.3% of its market capitalization in the last 24 hours. SHIB made some major gains on June 16 thanks to the news of its Coinbase listing, before it was delayed.
Source: XRP/USD – TradingView
Recovery has been slow for some coins, worse for some others like XRP. June 16 dip had already flipped support level into resistance and the early morning trade only dropped the coin further below. Trading at $0.757, XRP could be seen inching closer towards bedrock $0.697. Awesome Oscillator displayed dominating bearish momentum at the time of writing.
The purple indicator of Relative Strength Index (RSI) fell into the oversold zone earlier in the day. A small uptick at press time displayed the indicator rising out of the bearish territory in the coming hours. Parabolic SAR also indicated an active downtrend since the white dotted line appeared above the candlesticks.
For now, if XRP trades in green going forward, it could consolidate above $0.73 and prevent any further downfall.
Source: ADA/USD – TradingView
Cardano continued to be volatile as it had been for the last 2 weeks grazing and bouncing off the resistance and support levels. ADA once again ricocheted off the $1.37 support level to trade at $1.43 at press time. MACD indicator displayed the blue indicator line and the red signal line moving closely in the bearish neutral zone.
A minor divergence could be observed on the Bollinger Bands with the price indicator weighing towards the lower band. The basis (middle red line) continued to act as resistance as it has been since June 17. Capital inflows pushed Chaikin Money Flow indicator closer to the 0 mark in the bearish neutral region.
Based on the indicators, a correction phase could pull up ADA, however, critical support is placed at $1.31
Shiba Inu [ SHIB ]:-
Source: SHIB/USD – TradingView
Between June 16 & 18, SHIB fell by almost 22% and brought the coin back closer to its $0.00000659. AT the time of writing, the coin made some gains and reached up to trade at $0.00000770. SHIB will continue its movement consolidated under the $0.00001011 resistance level as it has since the end of May.
While 50 SMA ( Simple Moving Averages) line [orange] acted bullish, being under the candlesticks, the 100 SMA (red) line was aligned to the price indicator. Squeeze Momentum Indicator displayed receding bullish pressure at press time. The Relative Strength Index (RSI) indicator was aligned exactly to the neutral line at 50.0
Since indicators do not present a clear direction, expect the coin to swing either way going forward.
Aaryamann is a full-time journalist at AMBCrypto. He is a recent journalism graduate, currently investing his time in the crypto-space. He has a keen interest in DeFi, the ever-expanding possibilities of blockchain technology, as well as the political impact they would have.