XRP, VeChain and WAVES Price Analysis: May 24


As Bitcoin nears its high liquidity range over the past 12 days, the market shuns high volatility. Broader emotions still lurk in the ‘extreme fear’ realm.

As such, the short-term technology of XRP, VeChain and WAVES remained in bearish neutral territory. Buyers still had to inject volume to get enough momentum to get out of tight steps.

XRP

Source: TradingView, XRP/USDT

It plunged more than 37% in five days following a decline from the 61.8% Fibonacci resistance level. As a result, XRP fell to its 15-month low on May 12th. Additionally, the point of control (POC, red) has short-lived recent buying efforts, leading XRP to an extended squeeze phase near the $0.42 zone.

as 20 EMA (red) Refrain from jumping 50 EMA(turquoise), the bearish still substantially controlled the short-term trend. The closing price above the 23.6% level places the alt in a position to test the 50 EMA before breaking out of the symmetric triangle.

At the time of reporting, XRP was trading at $0.409. that much Relative Strength Index (RSI) On the 1st, it fell steeply toward the 38th parallel. nevertheless CMF The price has taken a bullish divergence. So, we maintain the probability that the buyer will break the 23.6% level.

VeChain (VET)

VETUSDT 2022 05 24 13 15 24

Source: TradingView, VET/USDT

In preparation for an effort to amplify selling pressure, sellers have rallied several times, controlling VET highs for over a month. The altcoin has lost more than 73% of its value (since March 31) and plummeted towards its 15-month low on May 12.

After constantly trying to find the above point EMA Ribbon, buyers were finally able to test the $0.33 level above the ribbon. However, the recent Evening Star candlestick pulled VET below the 20 EMA again.

At the time of reporting, VET was trading at $0.03168. After falling from the 67 line, RSI There was a firm plunge nearing equilibrium. A strong closing below this indicator can lead to unwanted short-term losses.

wave

WAVESUSD 2022 05 24 13 38 31

Source: TradingView, WAVES/USD

WAVES has declined sharply since early April and broke through a significant price point. The altcoin has lost more than 91% of its value since March 31 and hit a 16-month low on May 21.

While the $5.4-$5.6 range appears to support the recent retracement, WAVES has rebounded back and forth within the downward channel (white) range. that much super trend Finally switched to green and repositioned to indicate a buy advantage.

At the time of reporting, WAVES was trading at $5.66387. that much RSI We saw a bearish V-top and continued testing the 41 mark support over the past two days. A drop below this level could hamper the prospects for a short-term recovery. above this, ADX It showed a fairly weak directional tendency for alt.

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