Some of the biggest cryptocurrency losers on Saturday were THETA, GALA, and SAND, which were all hit by a lot of bearish pressure. Market bulls were few and far between at the start of the weekend. This came at the same time.
Writing this, DOGE and LUNA were both up a little bit, but XRP made the most gains this Saturday in the top 100 crypto coins.
XRP is up almost 6% as of this writing, following two days of strong bullish sentiment. Most other cryptocurrencies are still down.
XRP/USD reached an intraday high of $0.8237 on Saturday, following a low of $0.7603 the day before.
There was a big move when prices kept going up from the support level of $0.7550. They now look like they’re going to hit a resistance level near $0.8505.
As long as XRP looks like it could make a lot of money, it could be stopped by the 58 level on the 14-day RSI, which looks like a point of uncertainty.
If prices do manage to reach resistance, history shows that there is a lot of bearish activity at that level of the market.
As the weekend began, the red wave was very strong. GALA and the sandbox were two of the biggest cryptos that fell on Saturday because the wave was very strong.
If you look at Theta’s price now, it’s down for a third straight day. It’s now below its previous level of $3.25.
THETA/USD fell to an intraday low of $3.09 today, and is down about 5% as of this writing.
Prices dropped by almost 10% this morning. However, after the breakout from the floor, the downward pressure slowed down because traders may have sold some of their stocks.
THETA fell to its lowest level since February 6, and the 14-day RSI also fell to its lowest level since February 4.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.