Ripple (XRP), Polkadot (DOT), Decentraland (MANA) Price Analysis!
A significant portion of altcoins have been on the rise, taking advantage of the stable outlook of Bitcoin (BTC). Altcoins such as XRP , Polkadot and MANA should be followed closely in this process. Polkadot (DOT) hit its ATH point on Nov. 4 as XRP approaches its two-month highs . Decentraland (MANA) has had its fair share of growing metaverse craze.
Until October 31, XRP attracted attention with decreasing peaks. The price hit a 4-week low on October 27. Ripple ( XRP ) bulls see November as an opportunity and strive to protect critical areas. It is possible to say that they have succeeded at this point, XRP , which broke the upper trend line on November 4, saw the highest point in two months.
The above $1.22 zone has turned into a strong resistance. On the four-hour chart, the RSI is in the neutral zone, with the MACD and Momentum sending bearish signals. Although the medium-term moving averages maintain bullish hopes due to the current price, losing the $1.09 zone could trigger bigger problems.
After nearly three months of continuous bullish rally, DOT has gained over 150%. The price, which has increased by 90% since the beginning of September, reached the ATH point on November 4th . However, short-term technical indicators and declining trading volumes pointed to a noticeable drop in buying momentum. As a result, the DOT traded near the resistance level at $52.26 after dropping by around 0.60% in 24 hours.
The RSI has dipped down from above the overbought zone on the last day towards the half line. Additionally, the MACD Histogram and the Awesome Oscillator (AO) are sending bearish signals. Weakening buying interest can trigger short-term pullbacks. However, it should not be forgotten that the auctions that will start in December may support the price again.
Ethereum-backed Decentraland has made serious gains since October 28. After Facebook’s rebranding as Meta, the price of MANA surged over 520% to reach its ATH of $4.9 on Oct. Of course, the buying momentum won’t last forever. The weakening of this also strengthens the selling pressure.
Near-term technical indicators point to a declining purchasing power. As a result, MANA traded at $2,5401 after posting a 9.3% loss in 24 hours. The RSI has weakened, while the histogram continues to send bearish signals. Current support zones can be followed for short-term opportunities.