2019-1-21 10:18 |
Last week, the XRP price was both in the bearish and bullish trend zone. On January 19, the bulls tested the upper level of price range. The crypto’s price reached the high of $0.34 and the bulls made a pulled back. On January 20, the bears broke the 12-day EMA, the 26 –day EMA and price fell to the lower level of price range.
However, if the bearish trend continued the $0.32 price level would be broken and the price may depreciate to the low of $0.29. On the other hand, if the level holds, traders should initiate long trades at the lower price level in anticipation of a bullish trend. Meanwhile, the stochastic indicator is out of the overbought region but above the 20% range indicating that XRP price is in a bullish momentum and a buy signal. The MACD line and the signal line are below the zero line which indicates a sell signal.
XRP/USD Short-term Trend: BearishOn the 1-hour chart, the XRP price is in a bearish trend zone. The bears broke below the $0.32 price level but the bulls pulled back price and made a bullish movement. The bulls were resisted by the 12-day EMA and the bears made another attempt to break the $0.32 price level.
Meanwhile, the stochastic is out of the overbought region but above 20% range indicating that the crypto is in a bullish momentum and a buy signal. 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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