{"id":32466,"date":"2025-06-18T13:18:57","date_gmt":"2025-06-18T13:18:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=32466"},"modified":"2025-06-18T13:18:57","modified_gmt":"2025-06-18T13:18:57","slug":"bitcoin-retests-50-day-average-support-xrp-risks-dogecoin-like-bearish-shift-in-momentum","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=32466","title":{"rendered":"Bitcoin Retests 50-Day Average Support; XRP Risks Dogecoin-Like Bearish Shift in Momentum"},"content":{"rendered":"
\n

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.<\/em><\/strong><\/p>\n

There is an old saying, “Once is a chance, twice is a coincidence, and a third time is a trend.”<\/p>\n

It applies to bitcoin BTC right now. The cryptocurrency’s price has fallen back to its 50-day simple moving average (SMA), which offered support on two occasions this month, leading to price bounces.<\/p>\n

Therefore, the latest re-test of the average presents an opportunity for the bulls to establish a trend in which the 50-day SMA powers new legs higher. Conversely, the fall of the 50-day SMA support could invite stronger selling pressure, potentially leading to a dip below $100,000.<\/p>\n

At press time, the bear case appears strong due to signs of bull fatigue, as evident from the recent shallow bounces from the 50-day SMA. The first test of the average on June 5 produced a bounce from roughly $100,500 to over $10,000. However, the second test of the SMA on June 17 saw prices bounce only from $103,000 to $109,000.<\/p>\n

The past week’s Doji candle also suggests bull fatigue above $100,000.<\/p>\n

A high-volume move above $110,000 is needed to restore the immediate bullish outlook.<\/p>\n

\"BTC's<\/p>\n

XRP headed the DOGE way?<\/h2>\n

Payments-focused cryptocurrency XRP XRP is trading at the lower end of the Ichimoku cloud, a momentum indicator based on several moving average variants and developed by a Japanese journalist in the 1960s.<\/p>\n

Crossovers above and below the cloud are said to represent bullish and bearish shifts in momentum.<\/p>\n

When an asset’s price crosses below the cloud, as dogecoin DOGE did early this month, it typically signals a bearish trend. Traders often interpret this as a signal to consider selling or shorting the asset, especially if other macro or technical indicators confirm the signal.<\/p>\n

XRP’s 50-day SMA has already crossed below the 200-day SMA to confirm the so-called death cross, a bearish indicator. Therefore, a potential move below the Ichimoku cloud could prove costly for the bears, potentially opening the door for a slide below $2.<\/p>\n

\"XRP,<\/p>\n

On the charts, support is seen directly at $ 1.60, the early April low. Coins like DOGE, ADA, and LINK have dropped below their respective Ichimoku clouds in recent days, resulting in price losses.<\/p>\n<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. There is an old saying, “Once is a chance, twice is a coincidence, and a third time is a trend.” It applies to bitcoin BTC right now. The cryptocurrency’s price has fallen back to its 50-day simple moving average (SMA), […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-32466","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/32466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32466"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/32466\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}