Regarding Dogecoin (one of the top 10 altcoins), despite the general downtrend in the market, its trading volume is showing a descending pattern, which could indicate a potential reversal of its price trajectory. The article suggests that if Dogecoin can capitalize on this hidden signal, it might initiate a recovery phase. Dogecoin has historically demonstrated resilience at the $0.14 price point, which could serve as a springboard for future gains.
On the other hand, XRP has breached a crucial support level at $0.52, which had previously acted as a reliable reversal point for bulls. The decrease in trading volume along with the price suggests a dropping momentum among sellers, potentially setting the stage for a rebound. The $0.50 price point often plays a psychological anchor for traders and has been a strong resistance level for XRP. If the bulls regain their power, an ascent towards the $0.57 area could occur.
As for Solana, it has dipped below the $139 level, raising concerns among investors. The fall beneath this price point does not necessarily indicate a prolonged bearish phase. Historically, the $130 level has been a rallying point for Solana, characterized by a concentration of buying interest. The declining trading volume accompanying the recent drop-off further supports the possibility of a turnaround.
If the $130 support holds strong, Solana could climb towards the first resistance level at $151.72 and potentially target $167.75, which has acted as both support and resistance in the past.
Source: UTODAY
