XRPUSD Technical Analysis 4 hour - Buy opportunity approaching.

Hi there.

Current state:

Still out. That means we have USD on hand.

Indicators/Charts analysis:

• RSI: not longer in oversold conditions.
  
• Stoch RSI: in oversold conditions running back up. In cases like this I go with the RSI, since the stoch is an indicator of an indicator.
  
• Bollinger Bands: Price seems to be trending towards the middle of the band, however it has not breached it. Movement has been mostly lateral.
  
• EMAs: 12, 26 and 50 are all showing a down trend. Price however breached the EMA 12 several times during previous periods. This signals a push in the up direction.
  
• Awesome Indicator: Indicator is still bearish.
  
• Volume: Volume has been hovering around 26 MA line. Mixed (buy/sell). Indecision.
  
• Renko: Still showing a down trend, however we did get a green brick. At a minimum this should be considered as side movement/indecision.
  
• Renko RSI/Stock RSI: Oversold. Stoch RSI looking to exit oversold conditions. RSI is neutral at this time.
  

Stop Loss:

$0.38718 - This is our possible entry point.

Target:

$0.4066 (+ 5.01) - Based on fib retractments.
We will evaluate if we keep this target or not, depending on price action.


Alarms:

None.

Conclusion:

Wait for a buy signal. Do not enter trade yet.
I believe we may have an opportunity soon.


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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**