XRP has been in a channel for months now. But it has recently been in a nasty bear trend under the 200MA. If it is able to break above this MA it is bound to hit the top of the channel once again at about $0.28. I will not be getting into any position yet. I will be watching 4hr for pattern formations, and i will be looking for a good entry, hopefully into a long if the positioning looks right.
The $0.28 mark has been amazing support in the past so we can expect at least some, and it this case most likely pretty hard resistance.
Note
Forgot to mention the slight activity of the MACD on the 1D. Could be a good signal
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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.