Hello Traders,
Today's chart will be on XRP's current price action,
Points to consider
- Overall trend is bearish
- Major structural support broken
- RSI coming out of oversold conditions
- Both EMA's acting as resistance
- Below average volume
- Potential bullish divergence
- VPVR showing low volume of transaction at current area and resistance
The probability of XRP to have a bounce from this area is more favorable as we can see a potential bullish divergence forming, where the RSI is putting in higher highs and the price is putting in lower highs. It is noticeable that the price action is leaning into a wedge formation, with support (green zone) being in confluence helps with the bounce. The current volume is below average and tapering of rapidly which signify a move is about to happen in the near future...
what are your thoughts ? please leave a like and comment
and remember,
"Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment''' - Joe Vidich
Today's chart will be on XRP's current price action,
Points to consider
- Overall trend is bearish
- Major structural support broken
- RSI coming out of oversold conditions
- Both EMA's acting as resistance
- Below average volume
- Potential bullish divergence
- VPVR showing low volume of transaction at current area and resistance
The probability of XRP to have a bounce from this area is more favorable as we can see a potential bullish divergence forming, where the RSI is putting in higher highs and the price is putting in lower highs. It is noticeable that the price action is leaning into a wedge formation, with support (green zone) being in confluence helps with the bounce. The current volume is below average and tapering of rapidly which signify a move is about to happen in the near future...
what are your thoughts ? please leave a like and comment
and remember,
"Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment''' - Joe Vidich
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.