Short-term outlook is bearish due to the EMA crossing to the downside. XRP is currently sitting at a support of 6800 sats, but if this breaks it's a hard fall down to 5200.
All you can really do here is start slowly scaling into a long position to avoid getting wrecked. When XRP does make a run up, it's fast and violent.
Price right now is sandwiched between the 200-EMA (Black) and 100-EMA (Green).
* 100-EMA must act as a support for Ether's ascending trend line to continue.
* 200-EMA acting as a resistance. A break of that may bring us to $200.
Current price is a no-entry zone. Wait either for support to hold or resistance to break.
Recent Price Movement:
* Initial push past major resistance (Purple)
* First attempt at 200-EMA rejected (Black)
* Ratio is currently trading below major resistance (Purple).
Short-Term Price Movement (Neutral):
* Bitcoins recent rally introduced a lot of volatility. Will need consolidation before making a safe entry.
* Resistance still at the 200-EMA. Will...
Daily makes push past first major resistance on the daily (Purple).
Attempted push to the upside rejected by the 200-EMA on the first attempt (Black).
Here's my view short-term:
* Bitcoins recent rally makes the short-term price movement unclear. If there is any pullback in Bitcoin, that will obviously affect altcoins.
* Trend is indicating that Monero should...