XRP returned to the support level of $ 3 before he returned. Will there be another dive, or is it ready for a lift?
Main support levels: $ 3
Main resistance levels: $ 3.6, $ 4
1. Pullback in progress
After a sharp rally that brought XRP to a new of all time high above $ 3.6, sellers returned to take this cryptocurrency in a pullback. The prize has now been corrected and came to the support of $ 3. So far, buyers have succeeded in holding on to this level and to stop the downward trend. However, their resilience can be tested again soon.
2. Momentum is in favor of sellers
Bears now have the upper hand on the daily period and below. This can also be seen on the volume profile, which has been dominated by sellers lately. The good news is that the sales volume has fallen, which shows that bears are less interested here than at $ 3.6.
3. Macd Bearish Cross
The daily MacD did a Bearish cross last Friday and since then the downward trend has been accelerated. At the moment there are no signs that this trend would change. This makes a retest of $ 3 support probably. If it holds for the second time, buyers can have an opening to turn this price action and put XRP back to the offensive.
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