- XRP faces bearish pressure, key support at $2.80, resistance at $3.00.
- ADA must hold $0.8800 support to avoid deeper declines towards $0.8000.
- DOGE needs to stay above $0.3100 for potential stabilization and recovery.
The crypto market has seen some big price swings, among major altcoins XRP, ADA, DOGE, BNB, and TRX. With these coins facing substantial price volatility, here’s the key support and resistance levels for traders to keep an eye on for further rebounds or drops.
XRP: Key Support at $2.80 and Resistance at $3.00
XRP is currently battling strong bearish momentum, with its price down 8.91% in the past 24 hours. The market cap has fallen to $164.61 billion, and trading volume jumped by 115.25%. This hints at increased volatility, possibly driven by panic selling.
The immediate support for XRP lies at $2.80, which traders will need to monitor closely. If this level holds, there could be a potential for stabilization.
But, if it breaks this support, the next big level to watch is $2.70. On the upside, $3.00 is the immediate resistance, and getting back above this level is crucial for any recovery.
Related: XRP, ADA and Two Other Altcoins To Stack Immediately
ADA: Watch for Support at $0.8800
Cardano (ADA) is also seeing a bearish trend, with its price down 9.44% over the last 24 hours. The increased volume points to higher market participation, likely due to panic selling or speculative trades. The key support level for ADA is at $0.8800, which has historically been a strong zone for buyers.
A drop below this could push ADA towards $0.8500 or even $0.8000. For a potential recovery, ADA needs to break through the $0.9200 resistance, with $0.9500 as a more significant barrier.
DOGE: Holding Above $0.3100 is Crucial
Dogecoin (DOGE) has taken a sharp 10.85% hit in the last 24 hours, with trading volume up by 86.25%. This suggests a volatile market environment, with lots of selling pressure.
DOGE’s immediate support lies at $0.3100, which could stabilize the price if buying interest emerges. A drop below this could push DOGE towards $0.3000 or $0.2850. On the resistance side, DOGE faces a key level at $0.3250. A breakthrough here could pave the way for a short-term recovery.
BNB: Reclaiming $660.00 Could Signal Recovery
Binance Coin (BNB) is also on a downtrend, with a 5.93% decrease in the last 24 hours. The sharp increase in trading volume shows heightened market activity.
The immediate support level for BNB is $640.00, and a failure to hold this level could push the price towards $620.00 or $600.00. On the other hand, if BNB can reclaim $660.00, it may lead to a recovery toward $680.00 or $700.00.
TRX: Testing Support at $0.2350
TRON (TRX) has seen a 6.69% drop in the past 24 hours, reflecting strong bearish sentiment. The rise in trading volume indicates active market participation, likely due to speculative trades.
TRX’s immediate support is at $0.2350, and if it holds, there could be potential for a rebound. However, a break below this level could push TRX to $0.2300 or $0.2200. The next key resistance is at $0.2400, and a move above this could lead to further upside toward $0.2450.
Related: Crypto Slides, but SUI, LINK, TAO, ADA And TIA Might Be Deals to Watch
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