XRP/USDT Binance Weekly Analysis by TradingChimp503 π
Current Price: π²0.5237
Local Resistance: πͺπ²0.55 (based on candle wicks for the current week and previous week)
Key Support: π‘οΈπ²0.49 (important for psychological support and the previous week's low)
Moving Averages: π
Weekly MA200: The price hasn't closed above it in the last 5 weeks, and last week it closed right at the MA200's underside. A close above the MA200 is needed for bullish momentum. π
Daily MA200: The daily closing needs to be above π²0.5260 to mark the third day above MA200. A higher close is desired for strong momentum. π
Exponential Moving Averages (EMA): π
Weekly EMA 8, 14, & 34: Currently sideways, but the daily EMA is indicating a bullish crossover. Closing above resistance is crucial for upward momentum. π
Bollinger Bands (BB): π
Weekly BB: At MA20 support after a rejection at the top Bollinger. Holding this support is vital for another attempt at the top band. π
Daily BB: Still relatively tight and approaching the upper Bollinger. Anything above π²0.54 is above the upper BB. π
Key Areas to Watch: π
Resistance: πͺπ²0.55
Support: π‘οΈπ²0.49
Current Price: π²0.5237
Local Resistance: πͺπ²0.55 (based on candle wicks for the current week and previous week)
Key Support: π‘οΈπ²0.49 (important for psychological support and the previous week's low)
Moving Averages: π
Weekly MA200: The price hasn't closed above it in the last 5 weeks, and last week it closed right at the MA200's underside. A close above the MA200 is needed for bullish momentum. π
Daily MA200: The daily closing needs to be above π²0.5260 to mark the third day above MA200. A higher close is desired for strong momentum. π
Exponential Moving Averages (EMA): π
Weekly EMA 8, 14, & 34: Currently sideways, but the daily EMA is indicating a bullish crossover. Closing above resistance is crucial for upward momentum. π
Bollinger Bands (BB): π
Weekly BB: At MA20 support after a rejection at the top Bollinger. Holding this support is vital for another attempt at the top band. π
Daily BB: Still relatively tight and approaching the upper Bollinger. Anything above π²0.54 is above the upper BB. π
Key Areas to Watch: π
Resistance: πͺπ²0.55
Support: π‘οΈπ²0.49