Quick look at where XRPUSD stands early Monday
Hello guys,
The XRPUSD pair could not find its direction during the weekend after moving above the 50-day EMA and the downtrend line on Thursday and Friday. The major altcoin climbed up to $0.195 on Saturday, but could not continue with its good performance on the last day of the week and formed a similar candle, but in the opposite direction. The XRP ended the last seven days at $0.188, remaining flat for the period.
For the moment the price is responding pretty well to the support levels. As you can see on the provided chart, we are following our plan of action with no major obstacles for the moment.
The next target up is naturally the $0.20-$0.215 zone, which already proofed to be quite a strong resistance earlier this month.
Down we need to avoid a drop below the 50-day EMA and the $0.18 mark. It is very likely to see a re-test of that zone though.
The RSI is not ideal and we are struggling to move above the downtrend line. Volumes remain stable in the $1.9-$2.0 billion area since Friday.
I cannot see anything interesting on the 1h chart for the moment - bulls are finding support at $0.19, but could not get passed $0.195 for a second consecutive time in the last 10 days.
I'm overall bullish, at least in the short to mid-term and up to $0.23. In the long-term, we are still in a serious downtrend since July 2019.
Cheers,
The XRPUSD pair could not find its direction during the weekend after moving above the 50-day EMA and the downtrend line on Thursday and Friday. The major altcoin climbed up to $0.195 on Saturday, but could not continue with its good performance on the last day of the week and formed a similar candle, but in the opposite direction. The XRP ended the last seven days at $0.188, remaining flat for the period.
For the moment the price is responding pretty well to the support levels. As you can see on the provided chart, we are following our plan of action with no major obstacles for the moment.
The next target up is naturally the $0.20-$0.215 zone, which already proofed to be quite a strong resistance earlier this month.
Down we need to avoid a drop below the 50-day EMA and the $0.18 mark. It is very likely to see a re-test of that zone though.
The RSI is not ideal and we are struggling to move above the downtrend line. Volumes remain stable in the $1.9-$2.0 billion area since Friday.
I cannot see anything interesting on the 1h chart for the moment - bulls are finding support at $0.19, but could not get passed $0.195 for a second consecutive time in the last 10 days.
I'm overall bullish, at least in the short to mid-term and up to $0.23. In the long-term, we are still in a serious downtrend since July 2019.
Cheers,
Bình luận:
Ok, so we visited $0.18 again. No need to panic at all, at least until we move below this level and close there on daily.
