Hello Traders,
Today's chart will be on XRP's current price action,
Points to consider
- Overall trend is bearish
- Major structural support broken
- RSI coming out of oversold conditions
- Both EMA's acting as resistance
- Below average volume
- Potential bullish divergence
- VPVR showing low volume of transaction at current area and resistance
The probability of XRP to have a bounce from this area is more favorable as we can see a potential bullish divergence forming, where the RSI is putting in higher highs and the price is putting in lower highs. It is noticeable that the price action is leaning into a wedge formation, with support (green zone) being in confluence helps with the bounce. The current volume is below average and tapering of rapidly which signify a move is about to happen in the near future...
what are your thoughts ? please leave a like and comment
and remember,
"Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment''' - Joe Vidich
Today's chart will be on XRP's current price action,
Points to consider
- Overall trend is bearish
- Major structural support broken
- RSI coming out of oversold conditions
- Both EMA's acting as resistance
- Below average volume
- Potential bullish divergence
- VPVR showing low volume of transaction at current area and resistance
The probability of XRP to have a bounce from this area is more favorable as we can see a potential bullish divergence forming, where the RSI is putting in higher highs and the price is putting in lower highs. It is noticeable that the price action is leaning into a wedge formation, with support (green zone) being in confluence helps with the bounce. The current volume is below average and tapering of rapidly which signify a move is about to happen in the near future...
what are your thoughts ? please leave a like and comment
and remember,
"Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment''' - Joe Vidich
Free Alpha Group t.me/freetradingden
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Free Alpha Group t.me/freetradingden
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.