Prices are now challenging EMA50, just like is happening with Bitcoin , and we also have a slow but steady recovery after the March 2020 strong drop .
But, what happens next?
What happens next is for the market to decide, but I can share with you what the chart is saying right now!
- With prices now safely trading above EMA10 ( ) and challenging EMA50 with indicator (Strong and ), XRPBTC can easily continue higher.
- The next immediate resistance is sitting at $0.21392, which is marked on this chart by EMA100.
- If 0.19553 gets conquered (EMA50), then we will hit EMA100 and higher... Our main target on this chart is MA200 at $0.23715.
Conditions for change
We know that charts are always changing and this analysis only reflects what is happening at the time of writing... So here is how this chart can change.
- If prices move and close below EMA10, we lose the momentum and the bears start to gain more control.
- If the last low is broken, $0.11004, with good strength and , this analysis becomes invalid and prices can easily drop more.
- If the last low is hit with a long-wick and prices move back up... We take it as a positive signal and remain after the drop .
Thanks a lot for reading my friend.
I love you so much for your time, your attention and your amazing and continued support.
It really helps.
You can buy if you are looking at mid-term, but more information is necessary to recommend any buy/sell, it is up to you depending on your plan and trading.
All of my trades have targets and stop-loss.