Top 3 Cryptocurrencies To Watch This Week, SHIB, DOGE, XRP: Dogecoin Could Regain $0.15

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Last Updated April 21st 2022
5 Min Read
  • Shiba Inu buyers look to seize control above the critical confluence resistance near $0.0000253.
  • Dogecoin price remains poised to recapture the $0.15 mark while the 100-DMA support holds.
  • Ripple price is yearning for acceptance above $0.7600 to unleash a massive rally to $0.7730.

After a downbeat start to the week, buyers have regained control as we head towards the end of the week trading.

The underlying bullish momentum across the crypto market has propelled the pioneer digital asset, Bitcoin, to challenge the $43,000 level once again. Meanwhile, Ethereum edged closer towards $3,200, not forgetting Ripple move higher towards 0.7650. The XRP price is cheering a buying spree amongst the whales.

The upbeat mood in the crypto market this Thursday could be mainly attributed to the hawkish tone adopted by the European Central Bank’s (ECB) policymakers, which now seems like a concerted effort. Some of the top ECB officials called on for a July rate hike, fuelling a massive upsurge in the euro while weighing negatively on the US dollar.

The weakness in the greenback is aiding the upside in the digital assets space, as altcoins are also riding the bullish impulse. Meanwhile, Shiba Inu price continues to draw support from the report that more than 1.2 billion Shiba Inu tokens were burned over the past week including a single coin burn of 159 million (total of about $30,000). 

Let’s see how Shiba Inu, Dogecoin and Ripple are positioned on the technical graphs.

Shiba Inu Price Eyeing For More Upside On Turnaround Thursday

Shibu Inu price has reversed half the previous day’s decline, as bulls look to resume the recovery from six-day troughs of $0.0000236 hit on Monday.

Despite the renewed upside, the canine-themed meme coin remains in a consolidative phase between $0.0000260 and $0.0000236.

The current price action suggests the SHIB price seems poised for a breakout from the ongoing range play, as the daily technical setup is turning in favor of bullish traders.

At the time of writing, Shiba Inu price is trading 1.53% higher on the day at $0.0000253, above which bulls are trying hard to reclaim ground on a sustained basis.

That level is the point of convergence of the flattish 21 and 100-Daily Moving Averages (DMA).

Buying interest could gather steam above the latter, triggering a sharp advance towards the $0.0000275 supply zone.

The next relevant stop for SHIB bulls is seen at the $0.000030 level, the confluence of the round numbers and the April 12 top.

The 14-day Relative Strength Index (RSI) is peeping above the midline, entering the bullish territory while backing the case for the further upside in the coin.

shib/usd daily chart

SHIB/USDT: Daily chart

If SHIB bulls fail to surpass the abovementioned key resistance near mid-$0.000020s, then a retest of the fierce as well as horizontal 50-DMA support at $0.0000244 will be inevitable.

A fresh downswing on a firm break below the last will challenge the bullish commitments, pegged at the rising trendline support of $0.0000221.

To conclude, the odds of an upside breakout are higher amid favorable technical indicators.

Related: Shiba Inu (SHIB) Price Prediction

 

Defending 100-DMA Support Recalls Dogecoin Buyers

Dogecoin price is gaining roughly 1% so far this Thursday, bouncing off a dip below the $0.14 level amid a broad upswing seen across the crypto board.

DOGE bulls have regathered momentum after Wednesday’s sell-off, as they keep finding strong support just below the $0.14 threshold, pointing to more upside risks.

Although its critical for DOGE price to the sideways trend witnessed over the past three trading days, as the rebound from weekly lows of $0.1335 stalled at $0.1470 a day before.

From a short-term technical perspective, Dogecoin price is moving back and forth in a narrow range, with bulls having faced rejection above the mildly bullish 21-DMA at $0.1440 on multiple occasions.

Meanwhile, the dog-faced coin has managed to defend the horizontal 100-DMA at $0.1399, thus far.

The 14-day RSI is inching higher above the 50.00 level, allowing room for more gains. Therefore, DOGE bulls eye a daily closing above the 21-DMA barrier to kickstart a fresh uptrend towards the $0.15 threshold.

Ahead of that, the previous day’s high of $0.1470 could threaten the upside attempt.

doge/usd daily chart

DOGE/USD: Daily chart

Alternatively, the downtrend could be trigged on a sustained selling interest below the 100-DMA, opening floors for a test of the crucial support of $0.1331.

That level is the intersection of the ascending 50-DMA, horizontal trendline support and the weekly low.

The last line of defense for DOGE buyers is envisioned at the March 24 low of $0.1277 should the $0.13 round level give way.

Related: Dogecoin Price Prediction

 

Ripple Price Aims For The Triangle Resistance At $0.7730

Ripple price is fading a fresh uptick from six-day highs of $0.7676 but remains on track to book the second straight daily gain.

Over the last hours, the price of XRP is struggling to sustain the upside above a bunch of critical resistance levels just shy of the $0.7600 mark.

In spite of that, the no.3 crypto coin is adding nearly 1% on the day, currently trading at $0.7593, eyeing a sustained move to the upside. Ripple is likely to register the first weekly gains in four weeks.

Ripple’s four-hour technical chart is tilting towards the bullish side, as the Relative Strength Index (RSI) is teasing the midline to yield a firm break above it.

If bulls succeed in taking out the aforesaid strong resistance near $0.7600, then a test of the symmetrical triangle resistance at $0.7730 will be very well on the table.

XRP optimists, however, could find it an uphill battle to scale the $0.7700 psychological barrier before that.

Note that the XRP price has been traversing within the triangle after topping out on April 16 at $0.8000.

xrp/usd daily chart

XRP/USD: Four-hour chart

On the flip side, the immediate support is seen at the upward-sloping 50-Simple Moving Average (SMA) at $0.7571.

XRP sellers could then target the $0.7500 round figure should the pullback pick up momentum going forward.

The triangle support at $0.7462 would emerge as the line in the sand for Ripple buyers, as a sharp sell-off below that key demand area will be in the offing.

The deeper decline will expose the April 18 lows of $0.7286, which could be a tough nut to crack for XRP bulls.

Related: Ripple Price Prediction