Most altcoins are struggling to retrieve pursuing a caller clang successful Bitcoin prices
Safemoon (SAFEMOON), Dogecoin (DOGE) and Ravencoin (RVN) prices sustained brutal losses during this week's crypto marketplace crash. As Bitcoin terms dumped from highs of $52,000, astir altcoins followed. Safemoon terms deed lows of $0.00000154, Dogecoin tested a seven-day debased of $0.24 and Ravencoin slipped to $0.11.
SAFEMOON has touched an intraday debased of $0.00000151, with the downswing occasioned by the caller crypto crash. The terms is present beneath the 50 and 100 elemental moving averages connected the 8-hour chart.
The bearish outlook for SAFEMOON terms is accentuated by the dip to the enactment curve of the Bollinger Bands. The RSI and the MACD are besides trending antagonistic to adhd credence to this perspective.
If the terms breaks lower, the adjacent enactment would beryllium astir the $0.00000134 zone.
SAFEMOON/USDT 8-hour chart. Source: Gate.io
On the upside, SafeMoon bulls look pugnacious hurdles astatine the mediate curve of the Bollinger bands ($0.00000181) and past the 100 SMA astatine $0.00000198.
Dogecoin terms is trending conscionable successful the greenish connected the 4-hour chart, with the imaginable for a sustained reversal hinted astatine by the bullish crossover of the 4-hour MACD. Bulls request to wide supra the absorption astatine $0.26 (horizontal greenish line) for a script that volition let for a caller people astatine the 50 SMA ($0.28).
Currently, this outlook faces a cardinal hurdle astatine $0.25, with a processing ascending triangle signifier hinting astatine caller losses. The RSI beneath the 50 people and the sloping curve of the 50 SMA adhd to this probability.
If DOGE/USD breaks lower, bulls tin trust connected archetypal enactment astir $0.24. However, the terms could autumn to lows of $0.20.
DOGE/USD 4-hour chart. Source: TradingView
RVN terms is presently capped adjacent $0.12 connected the 4-hour chart, with bulls' attempts to interruption supra the hurdle not helped by the monolithic selling unit arsenic seen successful the rising sell-side volume.
The dipping RSI beneath the equilibrium level and the antagonistic outlook of the 20 EMA curve suggest the way little is much apt implicit the adjacent fewer days. In this case, RVN/USD mightiness diminution to enactment levels astir $0.10.
On the upside, the MACD suggests bulls person a chance. If RVN/USD breaks supra the highlighted horizontal barrier, sustained momentum supra the 20 EMA ($0.12) would unfastened up bids astatine $0.13 and $0.14.
RVN/USD 4-hour chart. Source: TradingView