- The price of the Drip Network crypto is trading below the 200-day EMA.
- DRIP crypto price is not trading with any fiat currencies.
Drip Network offers a unique daily ROI platform through its DRIP token, promising investors 1% daily returns with a maximum of 365% of their principal. Founded anonymously in July 2021, it features deflationary dynamics, referral rewards, compounding mechanisms, and a liquidity pool with transaction taxes and anti-whale measures.
The market cap of the Drip Network crypto is trading flat as per CoinMarketCap, and the current market cap value of the crypto is very low. This further results in a market cap ranking of #6380 and a market cap value of $823.
Traded volume for the crypto further has witnessed a decline of 38.4% in the last 24 hours. Also, the crypto traded volume value is $674, while the crypto’s volume/market cap ratio is 80.09%.
Moreover, the self-reporting circulating crypto supply is 100K DRIP, just 0.10% of the maximum. Also, the total supply of the crypto is 1.0M DRIP, and the maximum supply is 99.99M DRIP. The fully diluted market cap of the crypto is $822K.
The all-time high price recorded for the Drip Network crypto is $169.61, and the crypto price since then has declined by 100%. The price was recorded on January 26, 2022, nearly two years ago.
Moreover, the all-time low price of crypto was recently achieved at the time of writing, followed by the current market price. The low price of the crypto is the current market price of $0.008231 as of April 17, 2024.
DRIP Crypto Technical Analysis
The price of crypto has been consistently declining to lower levels. It has led to the formation of the double-top pattern at the bottom of the declining momentum, followed by equal highs. The price further continued the selling pressure and is currently trading at its all-time low price.
The following behavior of the DRIP crypto price shows strong dominance of sellers and pessimism among crypto investors.
DRIP/BUSD Chart by TradingView
As the trading price of the DRIP token has been consistently declining for a long time, the deviation between the 50-day and the 200-day EMAs has undoubtedly advanced. This behavior of the EMAs shows a strong trend in the crypto price, and the 50-day and the 200-day EMAs are trading in a death cross.
Furthermore, the price of the DRIP crypto is consistently declining with the decline in the metrics of the EMAs on the daily crypto chart.
The MACD and the signal line overlap and are trading below the zero level. The metrics are trading in a bearish cross and represent declining momentum in the crypto price.
The RSI also indicates a substantial decline in the price of the crypto as the value of the RSI has declined below the oversold zones. Following this, the 14-day SMA has also declined to significant lows and is currently trading at a level of 26.7, followed by the RSI trading at 21.8.
Summary
The Drip Network crypto faces a challenging scenario, with its price hitting new all-time lows. It exhibits a solid bearish trend when trading below critical indicators like the 200-day EMA. With declining trading volume and a minimal market cap, investors face significant pessimism and selling pressure, indicating a bearish outlook.
Technical Levels:
- Support Levels: $0.0070 and $0.0080
- Resistance Levels: $0.077 and $0.100
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.