XRPUSD(4Hr) : XRP looking to continue its bearish momentum
Market in the last 24hrs
XRPUSD saw a consolidated movement with looking like the price has rejected the trend line as a support and the slight Bullish trend might be a false breakout. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
XRP just went below the trend line which is acting as a support/resistance line for some time. The brief upward movement could be a false breakout and we may see a continuation of the current bearish trend. The price is also nearing the bottom Bollinger band which act as a strong support line and if the price accepts it then there is a chance of some ease for long-term traders.
Price volatility remained low at approximately 4.23%, with the day's range between $0.827 — $0.862.
Price at the time of publishing: $0.83
XRP’s market cap: $39.5 Billion
However, the Indicator summary is giving a 'STRONG SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 9 are neutral and 0 are giving a BUY signal.
Out of 15 Moving average indicators, 14 are giving SELL signal, 1 is giving neutral and 0 are giving a BUY signal.
Traded volume has remained high in the past 24 hours. If the trading volume bumps then we can see a bullish momentum as well. If the price accepts the bottom Bollinger band as a support line then we can expect a bullish momentum.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
XRPUSD saw a consolidated movement with looking like the price has rejected the trend line as a support and the slight Bullish trend might be a false breakout. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
XRP just went below the trend line which is acting as a support/resistance line for some time. The brief upward movement could be a false breakout and we may see a continuation of the current bearish trend. The price is also nearing the bottom Bollinger band which act as a strong support line and if the price accepts it then there is a chance of some ease for long-term traders.
Price volatility remained low at approximately 4.23%, with the day's range between $0.827 — $0.862.
Price at the time of publishing: $0.83
XRP’s market cap: $39.5 Billion
However, the Indicator summary is giving a 'STRONG SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 9 are neutral and 0 are giving a BUY signal.
Out of 15 Moving average indicators, 14 are giving SELL signal, 1 is giving neutral and 0 are giving a BUY signal.
Traded volume has remained high in the past 24 hours. If the trading volume bumps then we can see a bullish momentum as well. If the price accepts the bottom Bollinger band as a support line then we can expect a bullish momentum.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
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