A look at the weekly logarithmic chart for Ripple's XRP shows that the price-adjusted support is $ 0.25 – $ 0.30 once again, and the same time as the last time a brief rally followed.
However, compared to the beginning of September, the rally was shorter and with a lower volume.
If the area does not hold up, the next support level will be $ 13- $ 17.
A look at the indicators on the weekly chart shows that the MACD is close to making or rejecting a bullish cross.
In addition, the price has found resistance to the 7-period moving average and is forming an inverted hammer candle, which is a bearish reversal sign.
The RSI is slightly above 40, indicating conditions that are neither overbought nor oversold.
A look at Ripple's 3-day chart for XRP gives conflicting signs.
While the MACD is trying to make a bullish cross, the moving averages of the period 7 and 21 are making a bearish cross and act as resistance.
It is of great importance to keep an eye on the next weekly contribution on Monday, December 31st.
A look at the 12-hour chart shows that the price resistance reached at $ 0.45 at the 200-period moving average has therefore been retraced.
There is a slight bearish divergence in the RSI, and the MACD has made a bearish cross.
A look at the 6-hour chart further confirms the results of the 12-hour chart.
There is a significant bearish divergence in the RSI, MACD and Chaikin Oscillator.
- The price fell in the support area of $ 0.25 – $ 0.30 for the third time.
- Short-term indicators are bearish.
- The next support area will be $ 0.13 – $ 0.17.
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