Recent price fluctuations in the cryptocurrency market have heightened concerns among traders. Major cryptocurrencies such as XRP, ADA , and DOGE have faced significant pullbacks. This decline, compounded by weak technical indicators and global economic uncertainties, presents a troubling scenario. Notably, breaking below critical technical support levels signals the strengthening of downward trends. Market analysts indicate that traders need to monitor this situation closely and reassess their risk management strategies.
Technical Pressure Mounts on XRP, ADA, and DOGE
XRP has experienced a 14% loss, dipping below the crucial $2.00 mark. The frequently monitored head and shoulders pattern suggests potential further declines, while the 21-day exponential moving average has ceased to act as a strong resistance level. These developments have prompted XRP traders to adopt more cautious positions in the short term.
Similarly, Cardano $0.545757 ‘s native token, ADA, has declined by 12%, clearly reflecting selling pressure. Falling below the 50-day simple moving average and failing to hold it as support indicates ongoing downward control in the graph. Negative trends in basic technical indicators like RSI and MACD suggest that sellers continue to dominate.
On the DOGE front, prices have dropped to around $0.16, marking an approximate 15% decline. The “death cross” formation seen in the 4-hour charts has amplified risk signals for traders. The intersection points of moving averages provide strong indications that the downward trend may persist in the coming days.
Global Uncertainties Weighing on the Cryptocurrency Market
The downturn in the cryptocurrency market is not limited to technical indicators. Increasing tariff wars and economic instability globally are undermining investor confidence. Notably, prominent investor Bill Ackman has described the tariff wars as an “economic nuclear war,” highlighting the severity of the situation. Such global developments are contributing to fluctuations not only in stock markets but also in the cryptocurrency sector.
According to analyses, XRP’s Relative Strength Index (RSI) has fallen to around 30, generally considered an oversold territory, which technically raises the possibility of a short-term recovery. However, similar downward trends are evident for both ADA and DOGE, keeping traders in a cautious stance. A stable rise in the market is not expected until new support levels are established.
Market analysts emphasize that the current technical levels are crucial in determining the downward trend, stating that new support points need to form for prices to rebalance. It is advised that traders remain composed during this phase and focus on protecting their portfolios against high volatility.
