2018-9-7 09:53 |
Resistance Levels: $0.32, $0.34, $ 0.36
Support Levels: $0.28, $0.26, $0.24
Yesterday, September 6, XRP price was in a bearish trend. The cryptocurrency fell to its low at $0.26 and commenced a bullish movement. If the level is not holding, the XRP price will fall to its previous low at $0.24. If the level is holding, we should initiate long trades because we ought to have bought at the oversold market conditions.
Your stop loss should be below the $0.24 price level. As soon as the trades reach profitable positions, you should bring the stop-loss order to breakeven point. 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 ongoing. Nevertheless, the Relative Strength Index period 14 is level 40 which indicates that price is in the sideways trend zone.
XRP/USD Short-term Trend: BullishOn the 1-hour chart, the XRP price is in a bullish trend. The cryptocurrency is making a bullish movement to the high of $0.30. 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 above the zero line which indicates a buy 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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