XRDUSD falling wedgeAfter a huge price increase XRDUSD is now forming a falling wedge. It was wildly overbought. It must calm down what happend because the whole crypto market had a cool down period. As said the pattern is a falling wedge which is a bullish sign. Much will depend how the whole crypto market reacts of it will breakout to the upside or downside...
XRDUSD trade ideas
XRDUSD Don't be fooled by this riseRadix (XRDUSD) is on a strong rise in the past five days. However, unless it closes above the 0.1200 Resistance, it is more likely to seek Support on either the 1D MA50 (blue trend-line) or the 1D MA200 (orange trend-line) before making a new High. That is because based on the 1D RSI, the current 5 day rise may be similar to the dead cat bounce on February 15 and December 15.
If however it closes above the Resistance, this pattern gets invalidated and we will buy, targeting the Higher Highs trend-line at 0.2000.
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Buy XRD/USDT W1-D1 (TF = 2-3 months)Buy XRD/USDT (spot: Bitfinex, Gate, Kucoin)
entry: current price (0.042-0.043)
target: 0.11-0.17 (incremental fix)
invalidation: close below 0.033 on TF D1
FA/events/news: upcoming major release called "Babylon" in June 2023
TA: After slow bleeding in summer 22, XRD witnessed seller's capitulation in the end of Nov, 22 on high volume.
In Jan, 23 higher high (HH) was printed (obviously, it was a resistance at 0.06).
Then, we saw a successful retest of support (0.035-0.037) in March on high volume with higher lows.
RSI on W1 is trending up.
Overall narrative is also positive.
So, I don't see any selling pressure until 0.11-0.17
Decent R/R trade.
Nice uptrend channel for RadixAs you can see Radix is in a nice uptrend. Below you can see there's a lot more buying (green candles) volume than sell volume (red candles). The RSI is slightly raising but there's room for more growth. Even XRDBTC is back in a large falling wedge which is a bullish pattern
XRDUSD - Falling wedgeXRDUSD is in a falling wedge. Usually the biggest chance is it breaks out to the upside. Also the RSI is very low at this moment which means there is a big opportunity the price will go higher.
But when the whole market is going down there is a chance also XRD goes down. So two scenarios. Let's see how this plays out
Radix still in downtrendRadix is still in a downtrend for months, like many other crypto projects. Radix is a great project IMO but I think it will help if the Radix team bring more trading volume to the (e)XRD token. They can do that by listing the token on more popular exchanges like Binance, Coinbase, etc. I hope they will do that in short therm because the projects deserve it to have great adoption
XRD Radix idea 29 June 2022Radix could dip down to the $0.03 price range before regaining strength and moving on to challenge the 0.236 fib rentracement zone
We are severely oversold according to the daily RSI
A & B both show both have us moving up to challenge the $0.20 price range with B being the more bullish scenario
I will cover this on my show
Can RADIX Pull A Fantom?RADIX (XRD) is DeFi only chain just like Fantom. The project has huge backers, the big dogs and it has a strong community behind. I am not shilling the project, however, this project might have the potential to pull a Fantom like price action by 2023 if you can be patient enough and buy in increments. This is not a buy today get rich tomorrow project; it is rather a mid to long term hold project with a strong community and backers.
Best regards,