Momentum

Captain

Time

<p>In the past two days, XDC, PEPE, and SOL have been among the top losers according to CoinMarketCap. With the help of our analyses and insights from top traders, we aim to understand the reasons behind this pullback in prices for each of these coins and why it might potentially be the time to sell them. </p> 
<p>For each of these coins, the momentum is decidedly bearish.</p> 
<h2 class="wp-block-heading" id="xdc-a-bearish-momentum">XDC: A Bearish Momentum</h2> 
<p>Renowned Twitter analyst and technical analysis expert, Captain Altcoin (@CaptainAltcoin), has<strong><a href="https://twitter.com/CaptainAltcoin/status/1687624504711761920?s=20" target="_blank" rel="noopener noreferrer nofollow"> provided some valuable insights on XDC.</a></strong> The coin ended the day as a top loser, with the price down over 20% in the last 24 hours, inching closer to the strong $0.06 support level. This appears to be a typical profit-taking move after a surge.</p> 
<p>If this momentum continues, we might see the $0.06 support level broken. However, if it holds, we can expect a consolidation phase after the pullback, offering nice entry levels for the next bull run, especially if the price dips below $0.06.</p> 
<figure class="wp-block-image size-large"> <a href="https://captainaltcoin.com/go/coinstats-3/" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" loading="lazy" width="1024" height="699" src="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11-1024x699.png" alt="" class="wp-image-305517" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11-1024x699.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11-300x205.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11-768x524.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11-1536x1048.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11-2048x1397.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11-220x150.png 220w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11-100x68.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11-513x350.png 513w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11-788x537.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-11.png 960w" sizes="(max-width: 1024px) 100vw, 1024px"></a> 
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<p><em><strong>Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="CoinStats" href="https://captainaltcoin.com/go/coinstats-3/" data-shortcode="true">CoinStats</a></strong></em></p> 
<p>The XDC/USD chart shows the token trading below the Moving Average Convergence/Divergence signal line, indicating a bearish momentum as XDC sheds previous gains. The RSI at 46.75 suggests the asset is approaching the oversold region. Moreover, bears have formed stiff resistance at the $0.0851 level, ready to push XDC down to lower lows if the bulls fail to regain momentum.</p> 
<p>You can review our <strong><a href="https://captainaltcoin.com/xinfin-network-xdc-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">XDC price prediction here.</a></strong></p> 
<h2 class="wp-block-heading" id="pepe-the-meme-coin-dump">PEPE: The Meme Coin Dump</h2> 
<p>PEPE is currently trading at $0.00000115, with almost a 30% price decrease in the last seven days. This is a typical dump momentum for meme coins. Meme coins are known for their volatility and are often subject to massive price swings based on social media trends and investor sentiment.</p> 
<p>Another reason for the PEPE price dump is the market’s shift towards two more popular meme coins, SHIB and DOGE, in recent weeks. As we noted in our report, <strong><a href="https://captainaltcoin.com/no-x-token-after-all-doge-back-in-the-game-as-main-crypto-on-x-platform/" target="_blank" rel="noopener noreferrer nofollow">DOGE might be back in the game as a payment coin</a></strong> for X platform, while it remains Elon Musk’s favorite coin. On the other hand, <strong><a href="https://captainaltcoin.com/shibarium-digital-ids-will-bolster-shib-token-longterm-this-is-how/" target="_blank" rel="noopener noreferrer nofollow">SHIB is awaiting Shibarium</a></strong> and is one of the hottest coins on the market at the moment. SHIB is a top gainer on CMC today with almost a 10% price increase, showing a strong bullish momentum for this meme coin.</p> 
<figure class="wp-block-image size-large"> <a href="https://captainaltcoin.com/go/coinstats-3/" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" loading="lazy" width="1024" height="699" src="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12-1024x699.png" alt="" class="wp-image-305526" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12-1024x699.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12-300x205.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12-768x524.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12-1536x1048.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12-2048x1397.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12-220x150.png 220w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12-100x68.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12-513x350.png 513w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12-788x537.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-12.png 960w" sizes="(max-width: 1024px) 100vw, 1024px"></a> 
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<p><em><strong>Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="CoinStats" href="https://captainaltcoin.com/go/coinstats-3/" data-shortcode="true">CoinStats</a></strong></em></p> 
<p>PEPE still holds the $0.000001 strong support line that was broken only once in June, but the coin recovered afterwards. However, top traders are selling PEPE. For instance, Trader 0xa54 deposited the last 3T $PEPE to Binance at $0.000001155 ($3.5M) today. If truly sold, this trade would result in a loss of -$988K (-15.3%).</p> 
<p>You can review our <strong><a href="https://captainaltcoin.com/pepe-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">PEPE price prediction here.</a></strong></p> 
<h2 class="wp-block-heading" id="sol-nearing-support-zones">SOL: Nearing Support Zones</h2> 
<p>SOL is currently trading at $22.56, with a decrease of over 10% in the last seven days. As we mentioned in our <a href="https://captainaltcoin.com/solana-sol-nears-support-zones-buy-now-or-wait-for-it-to-fall-further/" target="_blank" rel="noopener noreferrer nofollow">recent article</a>, Solana (SOL) has been demonstrating resilience by holding its position at the $20 to $30 structural support level. This steadfastness has sparked a flurry of discussions among analysts and investors, with many closely watching Solana’s next move.</p> 
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<p>The current technical analysis suggests two potential wave counts should the price break below $22.30. The first scenario, which is the more favored, suggests a wave one to the upside into the January highs, followed by an A wave down into the June low, an overshooting B wave, and a potential C wave down. This scenario hinges on the key pivot point of $15. Any sustained break below this level could dampen hopes for further upside in the third-wave rally, potentially leading to a shift in market sentiment.</p> 
<figure class="wp-block-image size-large"> <a href="https://captainaltcoin.com/go/coinstats-3/" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" loading="lazy" width="1024" height="699" src="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13-1024x699.png" alt="" class="wp-image-305536" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13-1024x699.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13-300x205.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13-768x524.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13-1536x1048.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13-2048x1397.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13-220x150.png 220w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13-100x68.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13-513x350.png 513w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13-788x537.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-13.png 960w" sizes="(max-width: 1024px) 100vw, 1024px"></a> 
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<p><em><strong>Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="CoinStats" href="https://captainaltcoin.com/go/coinstats-3/" data-shortcode="true">CoinStats</a></strong></em></p> 
<p>The second scenario paints a different picture with an A wave to the upside, a B wave down, and a potential C wave up. The next support area for this count lies between $20 to $20.50. As the price navigates these turbulent waters, analysts are keeping a close eye on micro-level reactions to determine whether a low is in place. However, the market is yet to show signs of reaching this low. This lack of indication suggests that investors might be trying to catch a falling knife.</p> 
<p>The price trajectory may experience a temporary halt as market participants cash in on their gains, leading to selling pressures. A retreat to the support zone of $20-$22, which also aligns with the 200-day Moving Average, could present an appealing entry point for swing trading in an uptrend. Momentum indicators present a mixed picture. The MACD line is currently below the MACD signal line,<strong> suggesting a bearish outlook</strong>. However, the RSI is approximately at 50, indicating a neutral stance.</p> 
<p>You can review <strong><a href="https://captainaltcoin.com/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">SOL price prediction here.</a></strong></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/why-is-it-the-time-to-sell-xdc-pepe-and-sol/">Why is it The Time to Sell XDC, PEPE and SOL?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why is it The Time to Sell XDC, PEPE and SOL?

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