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The cryptocurrency market has continued to beat the bear, with the main cryptocurrencies that have lost 5% of their value only in the last 24 hours. Even the highest-value altcoin, XRP, went hand in hand with the trend, losing 5% of its value over the same period of time. The technicians seem to go along with this conclusion, as can be seen from the graphs.
1 hour:
The short-term prospects for XRP show an uptrend from $ 0.338 to $ 0.36, with a downtrend from $ 0.503 – $ 0.402 – $ 0.382. A support is visible at $ 0.338, with resistors set at $ 0.404, $ 0.427 and $ 0.461.
The MACD is demonstrating a bearish crossover, with the MA line moving below the signal line.
The Awesome Oscillator is bearish, with the emergence of red lines showing the same.
The satellite dish SAR is bearish.
1 day:
There is an uptrend from $ 0.27 to $ 0.369, with the dominant downtrend from $ 0.90 – $ 0.555 – $ 0.395. A support level is present at $ 0.262, with resistance at $ 0.582, $ 0.689.
The Aroon indicator shows that the upward trend is losing power, with the downward trend also moving downwards.
The Chaikin money flow has recently moved above line 0, indicating that money is flowing into the market.
The RSI is recovering from the oversold zone as seen by the indicator that falls below the oversold zone.
Conclusion:
In the long-term perspective, the forecast appears to be slightly bullish, with the market trying to fend off a recovery. However, it seems that the price will continue to move down before the currency seeks the realm of the bull.
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