Volume for
XRPUSD
has spiked when the price reached the bottom of the channel. This volume didn't increase during previous falls. This is signifying that at this level bulls and bears are tussling for control over the price. If the price breaks through the W formation, then it will be a good entry point for a scalp till the top of the channel. The RSI is also supportive with a trend upwards. Needs a breakout above the horizontal line (one full bar plus 1 -3 bars of confirmation depending on risk appetite to avoid a fakeout) for confirmation. The low the price reached is also the same level as the low of the previous rising flagpole (13 April) also signifying bullish momentum overall.
XRPUSD
has spiked when the price reached the bottom of the channel. This volume didn't increase during previous falls. This is signifying that at this level bulls and bears are tussling for control over the price. If the price breaks through the W formation, then it will be a good entry point for a scalp till the top of the channel. The RSI is also supportive with a trend upwards. Needs a breakout above the horizontal line (one full bar plus 1 -3 bars of confirmation depending on risk appetite to avoid a fakeout) for confirmation. The low the price reached is also the same level as the low of the previous rising flagpole (13 April) also signifying bullish momentum overall.