Terra, MATIC, XRP Price Analysis – December 17

As bears seemed to dominate the crypto spectrum within the day, alts such as XRP, LUNA, and MATIC struggled on their respective daily price charts. While Ripple bounced back from a bullish trend-line, LUNA and MATIC battled to maintain the closest support zones.

Ripple (XRP)

As Ripple (XRP) saw a downward-channel breakout on December 16, bears triggered a correction quickly. However, the 20SMA served as reliable support as the remittance coin witnessed several green candlesticks around the $0.8 level.

Bulls have tried to overpower the $0.84 mark as multiple retests for more than one week. Ripple had trended downward since November 10, losing 39.15% as of now. That is why it challenged bulls attempting to trigger an upward impulse.

Nevertheless, the RSI appeared hopeful as it stayed beyond the half-line. However, the Volume Oscillator showed decreasing volumes accompanied the latest bullish push. While publishing this news, XRP exchanged hands near $0.8255. Moreover, the DMI flashed a weak direction trend.

Polygon (MATIC)

MATIC saw a downward-channel breakout on December 15. Now, the alt moved within two parallel lines, heading northward. Meanwhile, the $2.195 level stood as a massive obstacle for Polygon bulls to overcome. As a result, MATIC witnessed a pullback following a 2.4% loss within the last day.

However, bulls had to hold the critical $2.065 level to avoid more losses. Moreover, this level coincided with the low parallel channel. Though MATIC’s long-term trend highlights bullishness, the alt has oscillated sideways over the past fourteen days.

At this publication, Polygon hovered at $2.038. The RSI lost strength and moved south. Though the MACD stays beyond the equilibrium, it depicts reduced bullish influence. Furthermore, the ADX showed weak directional trends for Polygon.  As low volumes accompanied the pullback, bulls remain hopeful.

Terra (LUNA)

Terra (LUNA) saw a breakdown that invalidated a bullish pennant formation. The fall had LUNA dropping 25% from December 10 to December 14, showing increased bearish strength. However, 61.8% persisted as a massive obstacle for Terra bears.

The alt regained its lost price over the past 72 hours and secured support around the 38.2% Fibo level. While writing these lines, LUNA trades near $62.76 following a 2.4% loss in 24 hours. The RSI appeared southward following a slight uptrend. Moreover, the DMI confirmed brief bullish favoritism. The Awesome Oscillator reflected the 24hr drop will red signals. Meanwhile, ADX shows a feeble directional trend for LUNA.