XRP/USDT Review
Hello everyone, I invite you to review the XRP chart on an hourly interval. As we can see, the price went down and entered the local downtrend channel. What's more, we see that there was an attempt to return to the uptrend, above the Cross 200 EMA, but it failed.
Let's start by marking the support spots for the price and we see that first we have a support zone from $0.6311 to $0.6249, but if the price goes lower then we have a second zone from $0.6150 to $0.6078, then we can mark strong support at $0.5990.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price has rebounded. Next we can mark resistance at $0.6594, next resistance is at $0.6678 and then towards the resistance at $0.6798.
The CHOP index indicates that there is still energy for movement, the RSI is near the middle of the range, which may give a greater price rebound, and the energy on the STOCH indicator has run out.
Let's start by marking the support spots for the price and we see that first we have a support zone from $0.6311 to $0.6249, but if the price goes lower then we have a second zone from $0.6150 to $0.6078, then we can mark strong support at $0.5990.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price has rebounded. Next we can mark resistance at $0.6594, next resistance is at $0.6678 and then towards the resistance at $0.6798.
The CHOP index indicates that there is still energy for movement, the RSI is near the middle of the range, which may give a greater price rebound, and the energy on the STOCH indicator has run out.
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