XRP (Y20.P2.E1).When to enter?
Updated
Hi All,
Just read an article which claims many Traders speculate that XRP will hit 0.70.
Hence I said, why not have a look.
My observations:
================================
a) Still in a down trend, as we have not established a higher high and a lower high on the weekly
b) Major resistance on the weekly is the 50 EMA or as per volume profile 0.30 - 0.32
c) RSI looks bullish on the weekly and however a hidden bearish div. looks present
d) MACD is playing out a bullish divergence on the weekly
e) The resistance area looks strong measured by the wick of recent, touching the 0.786 level (0.34471).
My thoughts:
================================
When all other coins are doing so well and have less risk or stigma against it, I would wait in buying XRP until it has proven to be an uptrend.
What I would like to see first is that it breaks the channel, establishing a higher high. It would likely be rejected at the 100 EMA on the WEEKLY.
If however it consolidates near the resistance of 0.344 and shows it can hold above this channel, then that could be a good signal to enter.
There is also a good change that there will be a pullback onto the 21 EMA on the weekly as of current (blue ribbon, 10-21 ema).
Let me know if this chart is agreeable with you with a click on a "like" please.
Regards,
S.Sari
(for my reference, Macro.charts)
================================================================================================================
Just read an article which claims many Traders speculate that XRP will hit 0.70.
Hence I said, why not have a look.
My observations:
================================
a) Still in a down trend, as we have not established a higher high and a lower high on the weekly
b) Major resistance on the weekly is the 50 EMA or as per volume profile 0.30 - 0.32
c) RSI looks bullish on the weekly and however a hidden bearish div. looks present
d) MACD is playing out a bullish divergence on the weekly
e) The resistance area looks strong measured by the wick of recent, touching the 0.786 level (0.34471).
My thoughts:
================================
When all other coins are doing so well and have less risk or stigma against it, I would wait in buying XRP until it has proven to be an uptrend.
What I would like to see first is that it breaks the channel, establishing a higher high. It would likely be rejected at the 100 EMA on the WEEKLY.
If however it consolidates near the resistance of 0.344 and shows it can hold above this channel, then that could be a good signal to enter.
There is also a good change that there will be a pullback onto the 21 EMA on the weekly as of current (blue ribbon, 10-21 ema).
Let me know if this chart is agreeable with you with a click on a "like" please.
Regards,
S.Sari
(for my reference, Macro.charts)
================================================================================================================
Note
Suppose XRP was to pullback and then break the resistance, how I would see it.Note
Chart updateNote
just updating the chart. I have not taken any orders. As I stated, I like to see a trend change before I will consider it. The pullback is too deep for my liking for me to consider it.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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