XRP/USDT 4HInterval check the current situation
Hello everyone, I invite you to review the XRP chart on the four-hour interval. As we can see, the price has broken the downtrend channel marked with blue lines.
Let's start by marking the price support areas and we see that we first have strong support at $0.45, but if the price moves lower, we can mark a strong support zone from $0.43 to $0.42, then support at $0.42 $0.40.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price is currently fighting a strong zone from $0.48 to $0.49. We continue to have a strong resistance at $0.50, once the price breaks it it will move towards the resistance at $0.55.
At this point, it is worth noting that the place of the first support is also the point through which the EMA Cross 200 is currently passing.
The CHOP index indicates that there is still some energy left, the MACD indicates the continuation of the upward trend, while the RSI goes above the upper limit, which will most likely end with a price correction.
Let's start by marking the price support areas and we see that we first have strong support at $0.45, but if the price moves lower, we can mark a strong support zone from $0.43 to $0.42, then support at $0.42 $0.40.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price is currently fighting a strong zone from $0.48 to $0.49. We continue to have a strong resistance at $0.50, once the price breaks it it will move towards the resistance at $0.55.
At this point, it is worth noting that the place of the first support is also the point through which the EMA Cross 200 is currently passing.
The CHOP index indicates that there is still some energy left, the MACD indicates the continuation of the upward trend, while the RSI goes above the upper limit, which will most likely end with a price correction.
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