Key Takeaway:
- Global cryptocurrency market cap decreased by $350 billion, impacting top cryptocurrencies.
- XRP broke below bull pennant, signaling a shift to bearish momentum.
- TRX experienced declines due to a double top pattern but found support for recovery.
- HNT slumped 18% with signs of potential rebound from oversold territory.
XRP breaks below bull pennant
XRP surged to a four-month high but fell below $0.55, indicating a bearish turn. The price may decline further to key support levels.
TRX suffers double top declines
TRX formed a bearish double top pattern, leading to a sharp decline to a three-week low. However, a bounce from support suggests a possible reversal if it breaks above key resistance levels.
HNT slumps 18%
HNT recorded consecutive declines but may see a rebound as it trades near support levels. Monitoring the Stochastic RSI for potential buying opportunities is crucial.
