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Liquidity is still quite thin on the cryptocurrency market. The lack of premium from the U.S. suggests a lack of institutional inflows, which clearly affects the largest assets, like Ethereum and XRP. But the lack of movement is translated into the performance of smaller caps like Dogecoin, too.
Ethereum loses momentum
One thing we can safely say from Ethereum’s most recent price performance: the asset has lost the momentum battle it was fervently attempting to win. ETH is currently trading at about $3,230, down about 2.3% on the day, and well below crucial resistance levels that had previously offered hope for a recovery following multiple unsuccessful attempts to regain higher ground.
Ethereum briefly tested the $3,600-$3,800 range earlier in the month, but it was unable to maintain upward pressure and instead rolled over due to heavy selling volume. The 200-day EMA (black line) at about $3,600 has now turned into resistance. Previously, this level served as a basis for a recovery.
The daily chart’s declining structure, which is indicated by a series of lower highs and waning buying interest, validates the overall bearish sentiment shift. Red candle volume spikes raise additional concerns because they imply that sellers are still in charge. On a market that is not exhibiting any indications of significant accumulation, the RSI hovering around 31 suggests that ETH is approaching oversold territory.
Even though there may be a brief respite, the current downward trend is unlikely to be reversed unless general market conditions improve. Technically speaking, $3,000 is the next significant support, and $2,800 is a more psychological barrier. If Ethereum is unable to maintain those levels, it is more likely that it will drop to $2,500, which would eliminate most of the gains from the midyear rally.
In summary, the price movement of Ethereum has significantly shifted away from the bulls. Yes, the asset is getting oversold, but cheap does not always equate to ready to recover. Without fresh demand, ETH is still susceptible to additional downward pressure, which serves as a sobering reminder that momentum is difficult to regain once it is lost.
XRP is back, but not really
The price movement of XRP over the last week appears to be a trip through time. The token is currently trading at about $2.18, a level not seen since December 2024 or the early months of 2025, effectively erasing months of progress.
Following several unsuccessful attempts at a breakout and months of relative stability, XRP has returned to a price range that served as the basis for its previous bull run. There is context to this decline. A rising wedge formation — a bearish continuation pattern that usually indicates more downside ahead has clearly broken down on the chart.
Every recent attempt at recovery has been effectively capped by the 200-day EMA, which once served as strong dynamic support but is now firm resistance around $2.50-$2.60. The 20-day, 50-day and 100-day shorter moving averages are all sloping lower, indicating persistent selling pressure. The bearish tone is further reinforced by volume spikes on red candles, as major market participants continue to sell their positions.
Although the RSI at 36 indicates that XRP is getting close to oversold conditions, an impending rebound is not always implied. There is still little momentum, and there is not yet a distinct demand zone below present levels. This same area served as the starting point for XRP’s significant rally back in late 2024, but the situation is different now.
Investor confidence has declined, market liquidity is reduced, and Ripple’s network metrics have cooled especially in transaction volume and active payments. XRP may retest at $2.00 or even $1.80 in the upcoming weeks if this bearish structure holds. Given how oversold the token is getting, a bounce is conceivable, but overall sentiment is similar to late 2024’s stagnation, indicating that XRP may be forced to revisit its past before making a significant comeback.
Is Dogecoin stuck?
For investors, Dogecoin’s recent market performance presents a cautious but somewhat optimistic picture. After a severe correction that pulled it down from the $0.22 zone in late October, DOGE is now trading at about $0.161. In an effort to find stability in the face of wider market weakness, the price is currently consolidating close to short-term support levels.
All of the major moving averages, including the 50-day, 100-day and 200-day EMAs, are trending lower on the daily chart, indicating that Dogecoin is clearly in a downtrend. Bulls will require significant momentum to overcome the $0.18-$0.20 resistance zone, as these moving averages have essentially created a ceiling above the price.
However, DOGE is getting close to oversold conditions, which frequently precede short-term rebounds, as indicated by the RSI hovering around 38. The recent sell-off may have used up all of the immediate selling pressure from a structural standpoint. A certain amount of accumulation is implied by the increased trading volume around $0.16, possibly from traders hoping for a relief rally.
The psychological $0.20 mark may be the next upside target if buying strength increases. It is important to remember, though, that Dogecoin’s potential for recovery is largely dependent on the general mood of the market as well as liquidity flows into significant assets like Bitcoin and Ethereum.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team