XRD Price Struggles to Break Resistance: Bearish Outlook Prevails
The XRD price is currently struggling to break through resistance levels, signaling a bearish outlook for the cryptocurrency. Despite recent attempts to rally, XRD has been unable to overcome the Fib 0.5 resistance at $1.921. As a result, the price has retraced towards its 20-day EMA near $1.770.
Although XRD experienced a bounce from the 20-day EMA, it is important to note that the daily RSI has reached overbought territory at 72.10, suggesting a potential pullback in the near future. The MACD histogram indicates building bullish momentum, but further upside may be limited.
RNDR Price Rally: Potential Consolidation Before the Next Leg Up
In contrast, the RNDR price has been experiencing a strong rally, gaining over 23% in the past month. After facing rejection at the Fib 0.5 resistance of $1.921 on October 7, the price retraced for 8 days before bouncing off the 20-day EMA near $1.770.
RNDR has broken out above its previous resistance levels and its 100-day EMA, indicating strong buying conviction and potential for further gains. However, the daily RSI suggests a pullback may be imminent, while the MACD histogram reflects building bullish momentum.
Hot Take: Potential Upside Limited for XRD and RNDR
While the RNDR price shows signs of continued upside potential, it is important to be cautious of a potential pullback or consolidation before the next leg up towards $2.50. The XRD price, on the other hand, faces resistance and may struggle to break through in the near term.
Investors should monitor key support and resistance levels for both cryptocurrencies. For RNDR, maintaining above $1.834 will keep the bull case intact. Meanwhile, XRD needs to overcome its current resistance at $1.921 to sustain its rally.
Overall, the outlook for XRD remains bearish, while RNDR has the potential for further gains after a potential consolidation phase.
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