Market may be on the verge of failure as we are seeing surge of bearish tendencies
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The formation of the death cross on XRP's chart suggests that the current downtrend could worsen. There is a looming possibility that XRP could fall toward $0.50, or potentially even lower. This technical setup is crucial for traders as it often precedes further declines in price, reflecting bearish sentiment among investors.However, it is not all doom and gloom. There is a notable trendline support around the $0.51 mark.
Typically, a genuine breakout is supported by strong trading volume and a decisive crossing of key technical levels such as moving averages. For Solana, however, the volume has been on the decline, contradicting the initial upward price movement. This lack of volume support is a red flag, suggesting that the breakout might not have the momentum to sustain itself.inability to hold above the $150 price level.
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