1. Support @ ~0.66
2. Resistance @ 0.96
3. 8-day EMA (Dynamic support/resistance). The resistance has held since Jan 9.
4a. Bullish pin bar formed at key support level. Price retraced 50% of pin bar, which is not unusual.
4b. Potential reasons not to take this as a buy signal:
-Counter trend
-Pin bar spans both support and resistance
-Subsequent failed test of resistance @ 0.96 (yesterday and today). (See 5)
-Strong downward momentum (see 6)
-Poor risk/reward.
6. EFI {Close (current period) - Close (prior period)} x Volume-------------EFI has been negative since Jan 10. MACD lines also crossed around this time.
?. Prices are likely to soon retest support @ 0.66
Things to look for (bullish)
-break of resistance (horizontal levels and/or break above EMA)
-higher highs, higher lows
-counter-trend trades near support with good risk/reward potential and strong signals.
-EFI heading for positive territory.
-MACD cross
2. Resistance @ 0.96
3. 8-day EMA (Dynamic support/resistance). The resistance has held since Jan 9.
4a. Bullish pin bar formed at key support level. Price retraced 50% of pin bar, which is not unusual.
4b. Potential reasons not to take this as a buy signal:
-Counter trend
-Pin bar spans both support and resistance
-Subsequent failed test of resistance @ 0.96 (yesterday and today). (See 5)
-Strong downward momentum (see 6)
-Poor risk/reward.
6. EFI {Close (current period) - Close (prior period)} x Volume-------------EFI has been negative since Jan 10. MACD lines also crossed around this time.
?. Prices are likely to soon retest support @ 0.66
Things to look for (bullish)
-break of resistance (horizontal levels and/or break above EMA)
-higher highs, higher lows
-counter-trend trades near support with good risk/reward potential and strong signals.
-EFI heading for positive territory.
-MACD cross
Comment:
XRP heading towards for support @ 0.66
Comment:
weak bounce off of support
Comment: