XRP Paints Important Pattern at $0.6, Toncoin (TON) Fairytale Over? Ethereum (ETH) Reverses in Brutal Fashion at $3,550

XRP’s
path
up
was
tough,
long
and
painful
for
a
lot
of
investors.
However,
on
July
12,
the
breakthrough
began
with
the
price
of
the
asset
reaching
$0.6
in
no
time
at
all.
Unfortunately,
though,
things
are
getting
complicated,
as
a
bearish
candlestick
pattern
appears
and
volume
shows
a
descending
tendency.

Following
its
descent
to
$0.6,
XRP
began
to
exhibit
strength,
breaking
above
important
resistance
levels
such
as
the
50
EMA,
100
EMA
and
200
EMA.
Traders
and
investors
were
upbeat
after
this
big
move.
But
a
bearish
candlestick
pattern
that
recently
emerged
points
to
possible
difficulties
down
the
road.

Support
at
50
EMA:
The
immediate
support
level
to
keep
an
eye
on
is
the
50
EMA,
which
is
located
at
$0.50.
Should
XRP
dip
below
this
level,
it
may
indicate
additional
declines.
Additionally,
the
200
EMA
at
$0.53
and
the
100
EMA
at
$0.52
act
as
critical
support
levels
that
may
help
to
keep
the
price
stable.

$0.65
resistance:
The
$0.65
level
serves
as
a
noteworthy
upward
resistance.
A
break
above
this
could
rekindle
the
bullish
momentum
and
push
XRP
toward
higher
targets
–
perhaps
as
high
as
$0.70.

Bearish
reversal:
If
the
bearish
candlestick
pattern
holds
and
volume
does
not
increase,
XRP
may
retreat
to
the
previously
indicated
support
levels.
This
situation
might
point
to
a
period
of
consolidation,
or
if
selling
pressure
picks
up
an
even
deeper
correction.

Sideways
movement:
A
period
of
sideways
trading,
during
which
XRP
swings
between
$0.50
and
$0.65,
is
an
additional
possibility.
This
would
suggest
that
traders
are
hesitating
to
make
big
moves
on
the
market,
waiting
for
more
definitive
signals.

Ethereum
got
hit

Ethereum
faced
an
unexpected
surge
of
selling
pressure
at
approximately
the
$3,550
price
threshold.
It
led
to
an
immediate
drop
toward
the
$3,400
zone
and
will
most
likely
cause
a
reversal
from
here,
considering
the
lack
of
volume. 

Continued
downtrend:
Ethereum
may
keep
declining
if
selling
pressure
does
not
abate
and
volume
does
not
increase.
At
roughly
$3,300,
which
is
symbolized
by
the
orange
100
EMA,
is
the
next
important
support
level.
This
level
is
crucial
for
traders
to
keep
an
eye
on
because
ETH
might
drop
to
the
200
EMA
(black),
which
is
located
at
$3,118,
if
it
fails
to
hold.

Bounce
from
support:
In
contrast,
Ethereum
might
find
a
strong
level
of
support
at
$3,400,
which
could
result
in
a
possible
bounce
back.
This
support
is
located
close
to
the
blue
50
EMA,
which
has
historically
served
as
a
pivotal
level.
The
price
of
ETH
may
try
to
recover
the
$3,550
mark
and
perhaps
even
reach
higher
resistance
levels
near
$3,700
if
buying
interest
rises.

Sideways
movement:
A
period
of
consolidation
is
another
possible
outcome.
The
market
may
be
looking
for
direction,
so
Ethereum
may
trade
sideways
between
$3,400
and
$3,550.
Until
a
major
catalyst
prompts
a
breakout
in
either
direction,
this
range-bound
trading
could
go
on.

Toncoin
turns
bearish

Toncoin’s
growth
from
May
to
July
was
impressive;
the
asset
has
been
constantly
gaining
value,
moving
above
key
indicators
and
not
showing
any
signs
of
a
reversal.
However,
as
soon
as
traders
saw
more
attractive
investment
options,
TON’s
momentum
was
gone.

The
200
EMA
at
roughly
$5.49
and
the
100
EMA
at
roughly
$6.62
are
the
next
support
levels
to
keep
an
eye
on.
For
a
possible
reversal,
these
zones
are
crucial.
TON
may
stabilize
and
regain
some
upward
momentum
if
it
can
find
support
at
these
levels.

There
is
less
buying
interest,
as
seen
by
the
decline
in
trading
volume.
Unless
new
buyers
step
in
to
support
the
price,
this
reduced
volume
may
result
in
further
price
reductions.
A
bounce
in
TON
may
be
expected
if
the
selling
pressure
lessens
as
the
RSI
is
getting
closer
to
the
oversold
area.

At
these
levels,
TON
may
stabilize
and
even
rise
higher
if
it
can
establish
a
foothold.
TON
might
experience
additional
losses,
though,
if
the
selling
pressure
keeps
up
and
these
support
levels
fall
through.
Keep
a
watchful
eye
out
for
any
indications
of
a
market
reversal
and
exercise
caution.