XRP/USDT analysis - Traded range. What will happen next?
Welcome, traders
Trend analysis:
- As you can see from the XRP/USDT daily chart, market is creating accumulation level, where we don't have a lot of opportunities for trading. But after it ends accumulation pattern on 0.5 level, there will be most likely good long opportunity for testing price 0.56 level. As another alternative scenario price will drop to 0.412 level. Global trend stays bullish as we can see as orange line on the chart.
Chart pattern:
- Head and shoulders which ended 3 days ago (rotated rectangle)
- Nowadays we are bounded between 0.494 and 0.41 (Trade range)
Technical indicators:
- RSI: There is no overheat on daily chart (Neutral)
- MACD: Preparing for big movement (Neutral, Bullish move prevails)
Thank you for your attention!
Dear friends, please push the like button, write comments below, and share this post with other traders - that would be the best support, Thank you.
P.S.: Information provided is only educational and should not be used to take action in the market.
Trend analysis:
- As you can see from the XRP/USDT daily chart, market is creating accumulation level, where we don't have a lot of opportunities for trading. But after it ends accumulation pattern on 0.5 level, there will be most likely good long opportunity for testing price 0.56 level. As another alternative scenario price will drop to 0.412 level. Global trend stays bullish as we can see as orange line on the chart.
Chart pattern:
- Head and shoulders which ended 3 days ago (rotated rectangle)
- Nowadays we are bounded between 0.494 and 0.41 (Trade range)
Technical indicators:
- RSI: There is no overheat on daily chart (Neutral)
- MACD: Preparing for big movement (Neutral, Bullish move prevails)
Thank you for your attention!
Dear friends, please push the like button, write comments below, and share this post with other traders - that would be the best support, Thank you.
P.S.: Information provided is only educational and should not be used to take action in the market.
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