2018-8-13 13:35 |
XRP/USD Medium-term Trend: Ranging
Resistance Levels: $0.35, $0.36, $ 0.37
Support Levels: $0.30, $0.29, $0.28
Last week the XRP price was in a bearish trend. The price nosedived from the high $0.43 to the low of $0.28. And the price made a bullish movement to the high of $0.30 and later commenced a sideways movement. The market is still in a sideways trend. Traders should look out for buy setups to initiate long trades in an anticipation of a bullish trend.
However, the MACD line and the signal line are below the zero line which indicates a sell signal. In the same vein, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is continuing. Nevertheless, the Relative Strength Index period 14 is level 38 which indicates that the market is oversold suggesting bulls to take control of the market.
XRP/USD Short-term Trend: Bullish
On the 1-hour chart, the XRP price is in a bullish trend. The XRP price is above the 12-day EMA and the 26-day EMA which indicates that price is rising. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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