XRPLong
XRPUSD Update
Here why I'm calm with current price action:
- Over the past 4 days have been seeing an EMA convergence (5D,20D & 50D) with price flattening into a sideways range
- This narrow trading range usually indicates imminent breakout
- Sustained selling pressure is not backed by large volumes with 4H volume level consistently below the 14-day fast moving average
- Massive Buy wall established at $0.75 , indicating large buy orders have been lined and every small dip to the 0.75 value region leads to further accumulation of long positions and bounce back/rejection (note: chart is showing depth chart for Binance, same can be seen on poloniex)
Only a matter of time before we lift off. Patience is the name of the game.
- Over the past 4 days have been seeing an EMA convergence (5D,20D & 50D) with price flattening into a sideways range
- This narrow trading range usually indicates imminent breakout
- Sustained selling pressure is not backed by large volumes with 4H volume level consistently below the 14-day fast moving average
- Massive Buy wall established at $0.75 , indicating large buy orders have been lined and every small dip to the 0.75 value region leads to further accumulation of long positions and bounce back/rejection (note: chart is showing depth chart for Binance, same can be seen on poloniex)
Only a matter of time before we lift off. Patience is the name of the game.
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