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The crypto market has been experiencing severe volatility again recently. Meme currency leader DOGE plummeted 8% amid huge whale selling, while XRP is trying to stabilize its position amid continued volatility. Although the trends of the two are different, they both reveal a key signal: the market is undergoing a phase of deleveraging and structural adjustment.Next, we will comprehensively dismantle the market trends of these two major currencies from three perspectives: background, technical aspects and trading psychology. 🐕 Dogecoin plunges 8%: whale selling triggers chain collapse1. Market background: Giant Whale shipped US$440 million DOGEOn Tuesday, Dogecoin experienced its most violent sell-off this year. The price once fell from $0.1843 to $0.1697, an intraday drop of more than 7%.  On-chain data shows that large addresses holding 10 million to 100 million DOGE sold approximately 440 million tokens, worth approximately US$440 million, in just three days. This directly triggered a chain reaction in the market - trading volume soared to 3.37 billion DOGE, more than 400% higher than usual, and stop-loss orders were triggered one after another, forming a waterfall decline. 2. Key support: $0.165 is the life and death lineDOGE had previously formed a strong support area near $0.18, but this round of plummeting has completely penetrated this line of defense, and the structural break is very obvious. “If the price can stabilize above $0.165, there may be a chance for a technical rebound in the short term； However, if the daily chart fails to close above $0.18 again, the bearish trend will still dominate the market. ”  The RSI indicator has fallen to 34.7, entering historically oversold territory, which usually means a short-term rebound is possible, but the broader trend remains bearish. In addition, futures trading volume surged 50% to US$5.25 billion, but open interest fell 4%, indicating that the market is deleveraging, not that new funds are entering the market. 3. Technical aspect: The rebound space is limited, but the selling pressure is still strongThe current price structure of DOGE is in a typical downward channel, with short-term resistance at $0.1760-0.1800. Intraday data shows that the selling was most intense between 03:00 and 05:00 UTC, with peak trading volume exceeding 1 billion DOGE. The rebound attempt was met with strong selling pressure near $0.176, showing that institutions are still allocating chips at a high level. Analysts generally believe that stabilization above $0.165 is a "bleeding point" and a breakthrough of $0.18 is a "recovery signal." 💧 XRP: Range Compression, Calm Before Breakout?1. Current trend: up 2.75%, lagging behind the marketIn contrast to DOGE’s plunge, XRP has inched up 2.75% to $2.34 in the past 24 hours, but overall performance still lags behind the crypto market average. Trading volume fell 6% from the 7-day average, indicating low institutional participation. Prices reached as high as $2.51 during the session before falling back and stabilizing around $2.33.  2. Technical pattern: Descending triangle suppresses breakthroughsXRP is currently consolidating between the support zone of $2.30-2.35 and the resistance zone of $2.60-2.72. The key level to watch is $2.54, a break above which could signal a shift in market direction. However, XRP is still technically suppressed by the descending triangle, and the EMA moving average band has also closed, suggesting that a volatile event is coming. 3. Investors are concerned: support remains stable or breakthrough is imminentTraders generally agree:
Although trading volume has declined, the compression of volatility means that a breakthrough is imminent, which is suitable for short-term traders to pay attention to. 🔍 Summary: The market has entered a critical turning zone
The current market characteristics are "amplified volatility + shrinking confidence". Institutions are reducing their positions, while retail investors are waiting and watching. For investors, waiting patiently for confirmation signals may be more important than blindly chasing higher prices. Want to join the circle to chat together and seize the next opportunity? 📱 WeChat: LYH-Love-ZJ  |
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