Hello traders and community, today we will tell ourselves shortly about situation of XRP/USDT
Trend analysis
- As you can see from the XRP/USDT daily chart, we are moving right now in Ascending Triangle (blue barriers in the chart), that's why it's quite possible that the price of XRP will implement bullish scenario in a few days and we will get up to $0.566 level. Resistance level (price zone: $0,5) and support level (price zone: $0,412) stay on the same place as before. Global trend is still bullish enough for moving upwards. As a trader, I recommend to wait for correct bullish breakout signal for making good trading position to $0,56 level.
Chart pattern
- Ascending triangle (functioning)
Technical indicators
- RSI: market is still in boarders and is located on 50 (not overheated, Bull signal)
- MACD: MAs are prepared for upward movement + they get closer to each other (Bull signal)
- BB: Volatility of the market started stabilizing after volatile movement accomplished (Neutral signal)
- MA (10,20): MA10 is going upward to the level of MA20 (Bull signal)
= Overall bull signal movement
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions :)
P.S.: Information provided is only educational and should not be used to take action in the market.
Trend analysis
- As you can see from the XRP/USDT daily chart, we are moving right now in Ascending Triangle (blue barriers in the chart), that's why it's quite possible that the price of XRP will implement bullish scenario in a few days and we will get up to $0.566 level. Resistance level (price zone: $0,5) and support level (price zone: $0,412) stay on the same place as before. Global trend is still bullish enough for moving upwards. As a trader, I recommend to wait for correct bullish breakout signal for making good trading position to $0,56 level.
Chart pattern
- Ascending triangle (functioning)
Technical indicators
- RSI: market is still in boarders and is located on 50 (not overheated, Bull signal)
- MACD: MAs are prepared for upward movement + they get closer to each other (Bull signal)
- BB: Volatility of the market started stabilizing after volatile movement accomplished (Neutral signal)
- MA (10,20): MA10 is going upward to the level of MA20 (Bull signal)
= Overall bull signal movement
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions :)
P.S.: Information provided is only educational and should not be used to take action in the market.