The cryptocurrency market has been quite volatile recently, with XRP, SUI, and HBAR all experiencing significant price movements. Let’s take a closer look at each of these digital assets and their potential future price actions.
XRP, which is one of the major cryptocurrencies in the market, saw a 1.23% drop on Friday after correcting nearly 24% throughout the week. The price of XRP started a recovery wave from the $2.20 level, moving above the $2.55 resistance. However, bears were able to push the price below $2.54, indicating some selling pressure. The next major resistance levels for XRP are at $2.5702 and $2.640. A clear break above these levels could push the price towards $2.720 and even $2.850 in the short term. On the downside, support levels are at $2.4250 and $2.3750, with the latter being a crucial level for the bulls to defend.
SUI, another cryptocurrency that has been in the spotlight recently, saw its trading volume surpass $20 billion, leading to a 7% surge in price. This increase was fueled by the announcement of a strategic partnership with World Liberty Financial and speculation about the launch of a Canary SUI ETF. Despite the positive news, SUI is struggling to break above the $3 mark, with the RSI indicating neutral territory. The 50-day EMA and the 200-day EMA are both pointing towards a bearish trend, with support levels at $2.70 and $2.50, and resistance at $3.57.
HBAR, on the other hand, has seen a 1% increase in price over the last 24 hours, currently trading at $0.25. The cryptocurrency has experienced a significant 32% surge over the past seven days, indicating bullish momentum. The EMA structure is also supporting a bullish phase for HBAR, with the 20 EMA crossing above the 50 EMA. The 200 EMA is acting as a dynamic support level at $0.24414. A symmetrical triangular pattern on the hourly charts suggests that HBAR could see a breakout above $0.255, with immediate resistance at $2.88 and a potential target of $0.3306.
In conclusion, XRP, SUI, and HBAR are all facing different challenges and opportunities in the cryptocurrency market. Traders and investors should closely monitor these digital assets’ price movements and key technical levels to make informed decisions.