Most digital coins witnessed weaknesses in November as bears dominated market trends. As a result, an alternative coin such as Dogecoin and Ripple (XRP) hit multi-monthly and weekly lows on November 26. Though SAND hit its all-time high on November 25, its short-term technicals suggested fading bullish momentum.
Ripple’s XRP succumbed to the crypto trend, performing ugly following a 2-month peak hit on November 10. Bulls failed to overcome the sell-off since then, and the outlook switched to bearish preference. The downfall had XRP forming a plunging triangle pattern.
Moreover, the pullback translated to a breakdown of a descending triangle as bears broke the bottom trend-line. That led to a 29.15% retracement (from November 10), translating to a 2-month low on November 26.
While writing this article, XRP traded at $0.9518 following a 7.1% fall over the past day. The RSI witnessed a 10 point increase after plummeting into the oversold territory. Moreover, the DMI displays bear preference. Also, the Awesome Oscillator exhibited a possible short-term bullish revival. Meanwhile, it might be critical to know that high trading volumes accompanied the downswing, confirming massive bearishness.
Dogecoin persistently declined last month following an 11-week record on October 28. The meme coin steadily dropped within a descending triangle. The price movement led to a downward channel before breaching a descending triangle.
DOGE lost more than 39% from October 28 to November 27. As a result, Dogecoin touched a 4-month low on November 26. Bears broke the barrier at $0.2320 and pushed DOGE under its four-hour 20, 50, and 200 Simple Moving Average.
While writing this article, Dogecoin hovered at $0.206. The RSI exhibited bearishness but witnessed a 13 point upsurge within 24 hours. Though the DMI showed a bearish case, the +DI line appeared north.
The Sandbox (SAND)
SAND, the leading metaverse crypto, projected inverse price actions. The ETH-powered altcoin decoupled from the market, experiencing an exponential surge last month. SAND witnessed a whopping 508% upsurge from October 28, touching its record high on November 18.
The metaverse coin’s price actions created an ascending triangle formation. Meanwhile, the recent partnership with Adidas and the project’s development in the metaverse supported SAND towards its ATH on November 25. The surge translated to a climbing triangle breakout that further transmuted to an upward channel.
While writing this article, the altcoin hovered at $6.328 after a 9.1% drop within the past 24hrs. The RSI dropped from the 63-level towards the equilibrium level. Moreover, the DMI displayed a bearish cross. At the same time, the Awesome Oscillator confirmed the previous outlook with a bearish outlook.
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