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The bear market has seen some surprising changes in position and also the prices of cryptocurrency charts. Popular cryptocurrencies like Bitcoin [BTC] and the XRPs have all faced the weight of the bear, leading many analysts to speculate on the bottom and end of the bear race.
1 hour
The graph of an hour for XRP shows a lack of uptrend following a downward trend that has led to a sideways price movement. The downward trend saw prices fall from $ 0.342 to $ 0.297. The support reached $ 0.2931 while the resistance is at $ 0.313.
The Chaikin cash flow The indicator is located right on the zero line, indicating that the balance between the money that enters the market and the money that comes out of the market.
The Awesome Oscillator shows the market reduction after a good seal. The reduced amount may be due to the lateral movement of prices.
The MACD The indicator is just below the MACD histogram with the signal line rising slightly after a joint motion with the MACD line. This could lead to a small upward peak in the near future.
1 day
The one-day XRP chart shows that prices fall only after an uptrend that occurred months earlier. Long-term support is $ 0.259, while the initial uptrend has brought prices to $ 0.566. The recent downward trend has lowered the price from $ 0.517 to $ 0.316.
The Bollinger band shows a slight divergence with the upper band and the lower band joining after a bearish blast. The divergence also indicates an imminent change in trend.
The Relative strength index indicates the cryptocurrency that hangs under the oversold zone. This could be due to the fact that investors' feelings have been influenced by the bear market. Staying below the oversold zone means that the selling pressure is much greater than the buying pressure.
Conclusion
Despite the slight bullish peaks, prices still remain under the control of the bear. The indicators mentioned above depict a negative picture for the future with a bear market sustained in the works.
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