Altcoin News by Thebittimes.Com

The Golden Cross is quite an integral part of technical Analysis . Such a crossover occurs when a short-term moving average overtakes a major long-term moving average to the upside. The Golden Cross suggests an upward flip in the price. A few days back, the 50-day MA [red] on Dogecoin’s chart climbed above the 200-day MA [green]. Post the crossover, DOGE noted a brief uptick and went on to claim a local high of $0.111. Source: TradingView The bullish momentum, however, couldn’t sustain. Post gradually succumbing to bears, DOGE ultimately ended up adding another extra zero to its price and was trading at $0.09602 at press time. Effectively, a crossover is considered to be more significant when it is accompanied by high trading volume. In Dogecoin’s case, that has not been the case. As illustrated below, the volume peaked in the October-November transition period and it quickly dropped after that. A similar uptick was registered during the latest month...

XRP, the sixth largest cryptocurrency by market cap, has formed a “golden cross” pattern for the first time in 15 months. Analysts regard the formation of a golden cross as a bull market indicator. On October 23rd, XRP’s daily moving average (MA) 50 crossed above the moving average (MA) 200, validating the “golden cross” price pattern, a long-term bullish indication. Source: TradingView, UToday Will the formation of a golden cross lead to an XRP rally? Analysts usually relate the formation of a golden cross as a bullish development . Moreover, this is not the first time the golden cross has appeared on the XRP charts. The indicator has previously appeared on the token’s charts a few times. The last time it happened was on July 17, 2021. Furthermore, it was followed by a 176% price rally . The token reached a high of $1.41 before reversing direction to the downside. Analysts and traders usually interpret the golden cross as a sign of a clear up...