As I've written in the title, this resistance is very old, I had it drawn for a long time, I didn't think it was still valid but it's currently working as resistance. Moreover there's a bearish DIV on 4h RSI and, always at the same timeframe, VLPR shows control line is 20% lower than current price. I think a retracement is most likely than another leg up here.
As you can see XPR went +114% after the breakout of that descending channel, a price drop would be acceptable but in the long run this will go over his previous ATH.
Stay focused.
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Here a picture from 1h chart. XPR is testing a support right now, should it bounce upward it might breakout but in case it'll go down the first dashed line is a support between 0.5 and 0.618 Fib line, which sounds perfect for a reversal. Right now XPR doesn't follow BTC 100% so if BTC keep retracing a bit after that pump it's not sure XPR will dump as well.
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XPR reversal happened in the zone I had told you. Right now price is over previous resistance but with a clear bearish DIV on at least 2 indicators (not all of them though, for example not on CCI) and touching TMA upper band. It's possible it'll go down but if it goes there former R has to hold price and become S. Let's see!
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ah, I forgot to say, if RSI breaks bearish DIV line this will keep pumping!
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XPR is not stopping, it has hit my second reistance and broke the bearish DIV. Volume keeps rising, if things remains like that it can easily make of this resistance a support
Great to see this!! Can you pls chart a new update on this.
Shotokhan
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@ZoneOutIn, Hi, please follow me on twitter, yesterday I've posted there some short/swing opportunity about XPR but I didn't have time to post it here as well. The trade went pretty well!
Khaledor
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Thanks for covering xpr man! Great work
Shotokhan
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@Khaledor, thank you for checking my stuff. If you like it please follow me