Overview of the XRP pair to USDT chart, on a one-day time frame. First, the yellow line will mark the downward trend from which the price has moved into the sideways trend channel marked with blue lines.
Moving forward, we can move on to marking support areas when the price starts to reverse. And here the most important support point is the zone from $0.50 to $0.46, which protects against a larger price drop.
Looking the other way, we see that the price has reached an important resistance level at $0.62, which it has no strength to break yet. However, if we manage to break above this resistance, we can move further towards the strong resistance zone from $0.74 to $0.82.
As we can see, the place where the red ema cross 10 line crosses the green ema cross 30 line from below confirmed the transition to a local upward trend.
Please look at the CHOP index, which indicates that there is still some energy left for movement, on the RSI indicator we are approaching the upper limit, which may limit the room for further growth, the STOCH indicator also exceeds the upper limit, which may also result in a rebound of the current increase.
Moving forward, we can move on to marking support areas when the price starts to reverse. And here the most important support point is the zone from $0.50 to $0.46, which protects against a larger price drop.
Looking the other way, we see that the price has reached an important resistance level at $0.62, which it has no strength to break yet. However, if we manage to break above this resistance, we can move further towards the strong resistance zone from $0.74 to $0.82.
As we can see, the place where the red ema cross 10 line crosses the green ema cross 30 line from below confirmed the transition to a local upward trend.
Please look at the CHOP index, which indicates that there is still some energy left for movement, on the RSI indicator we are approaching the upper limit, which may limit the room for further growth, the STOCH indicator also exceeds the upper limit, which may also result in a rebound of the current increase.