XRP, LUNA, SHIB Price Analysis

XRP, LUNA, SHIB Price Analysis – January 23

Ripple seems to pick itself up following a market-wide crash that left the remittance token exploring its 6-month lows of $0.5489. The alt requires momentum to hit the 23.6% FIB zone. Also, Shiba Inu rebounded from the 3-month support of $0.00001708 and met a hurdle at the four-hour 20SMA. Meanwhile, LUNA regained the golden FIB level but struggled to accumulate trend-altering volumes. 

Ripple (XRP)

Ripple broke out of a 3-week downward channel. However, the cross-border crypto witnessed a continuous decline as sellers joined around the $0.8029 mark. Therefore, XRP created another plunging channel on the 4Hr chart.

Ripple saw a steep plunge, losing nearly 28.2% of its value following a bearish engulfing candle on January 21. That way, the alt touched a 6-month low on January 22. Bulls have the closest obstacle at the 23.6% FIB zone.

While publishing this news, Ripple traded near $0.6241. The RSI remains bearish and somewhat in harmony with the price in most cases. The indicator targets the 44-level after touching a 13-month low. Moreover, the Chaikin Money Flow highlighted sellers’ preferences. CMF should approach the equilibrium for a close beyond 23.6% area.

Shiba Inu (SHIB)

While the 61.8% FIB resistance remained stable, the downward channel breakout could not accumulate return for the market participants. Moreover, the January 21 fall has SHIB recording more than 39.94% correction to 15-week lows on January 10.

However, the meme coin saw a remarkable rally after buyers joined at $0.00001708. That way, SHIB breached 23.6% FIB resistance but reversed after meeting the 20-Simple Moving Average resistance. While publishing these updates, the dog crypto traded at $0.00002265. The Relative Strength Index rebounded from the oversold territory after hitting a record low near 12.35. However, it saw a more than 30-point jump within the last 24 hours but could not overcome the midline. The –DI and +DI saw the distance between them lessening as bulls launched recovery.

Terra (LUNA)

The $86.49 resistance remained sturdy as the crypto witnessed an upward channel breakdown. That way, Terra registered a 38.06% decline from January 20, exploring 5-week lows on January 22 after surrendering the golden FIB area.

The last 24 hours had LUNA crawling back to reclaim 61.8%. Now, bears have the testing level at $66. Any reversal would encounter resistance at $69. While publishing this analysis, LUNA hovered at $67.83. The RSI noted a decent upswing but is yet to hit the midline. Moreover, the SuperTrend still flashes red signs. Furthermore, the Volume Oscillator flashed a feeble bullish strength as it plunged under the equilibrium amid the latest recovery.

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