- XRP struggles as declining volume and resistance at $2.35 limit upward movement.
- Chainlink shows strength with steady gains and accumulation by large investors.
- Solana and Dogecoin face bearish trends, struggling to hold key support levels.
Recent trading activity in the cryptocurrency market reveals a mixed bag of trends among several of the popular altcoins, including XRP, Chainlink (LINK), Solana (SOL), and Dogecoin (DOGE), offering insights into potential whale activity and shifting market sentiment.
What’s the Latest on XRP’s Downtrend?
XRP has recently struggled with a slight downtrend, trading at $2.28 after declining 2.73% in the last 24 hours.
After briefly reaching $2.35, the price reversed, indicating resistance at this level. The 15.06% drop in trading volume suggests reduced interest and participation in the XRP market at the moment.
Key support is forming around $2.25, with a stronger level at $2.20. On the upside, resistance is evident between $2.35 and $2.37, and a break above this could potentially push XRP towards $2.40. Overall market sentiment for XRP appears cautious.
Related: Bitcoin, XRP, Dogecoin Recover as Fresh Crypto Strategic Reserve Bill Hits Congress
Chainlink’s Upward Momentum
Chainlink (LINK), on the other hand, is demonstrating a more bullish trend, currently trading at $14.17, gaining 2.42% over the last 24 hours.
After a dip near $13.70, LINK recovered, showing strong buying interest. Its market capitalization stands at $9.31 billion, and the 24-hour trading volume has increased by 3.45% to $351.38 million.
Support for LINK is holding between $13.70 and $13.80, with a stronger level at $13.50. Resistance is being tested in the $14.20 to $14.30 range, and a breakthrough could drive LINK towards $14.50 or higher. This steady upward momentum suggests potential accumulation by larger investors.
Solana’s Bearish Pressure
Solana (SOL), however, has been in a corrective phase, trading at $125.24 after a 2.93% decline. Market capitalization has dropped to $63.87 billion, although trading volume has increased by 5.87% to $2.86 billion.
The price recently fell from a high of $129.16, facing rejection at resistance levels.
Current support for SOL is between $124 and $125, with a further drop potentially testing the $122 level. On the resistance side, $128 to $129 remains a key barrier. While reclaiming this level could signal a reversal, the ongoing formation of lower highs and lower lows indicates bearish momentum.
Dogecoin Struggles to Maintain Stability
Dogecoin (DOGE) has also struggled, declining by 3.56% to $0.1680. Market cap has fallen to $24.95 billion, and trading volume is down 3.66% to $1.12 billion.
The token peaked at $0.1744 before experiencing strong selling pressure.
Related: XRP ETF Approval: SEC Odds a Coin Toss, Say Analysts – Litecoin & Doge Have Better Shot?
Short-term support for DOGE exists around $0.165 to $0.166, with a critical support level at $0.160. Resistance is visible between $0.172 and $0.174, and a breakout above this is needed for a bullish push toward $0.180. The downward movement suggests weak momentum.
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