Crypto Technicals: XRP/USD finds stiff resistance at 55-EMA, bias neutral
Mon, 13 Jan 2020, 08:57 am UTC
XRP/USD chart - Trading View
Exchange - Kraken
Technical Analysis: Bias Neutral
GMMA Indicator: Major Trend - Bearish; Minor Trend - Neutral
Overbought/ Oversold Index: Neutral
Support: 0.2085 (200H MA); Resistance: 0.2156 (55-EMA)
XRP/USD was trading 1.88% lower on the day at 0.2110 at 08:40 GMT, intraday bias is neutral.
The pair is extending sideways after price action was rejected at 55-EMA which is offering stiff resistance at 0.2156.
Major trend has been bearish and minor trend is now neutral. Breakout at 55-EMA will change near-term dynamics.
Stochs and RSI converge with price action, raising scope for further gains. Breakout at 55-EMA could see test of 23.6% Fib at 0.2529.
The pair is holding break above 21-EMA, finds immediate support at 50-DMA at 0.2080. Retrace below 21-EMA negates near-term bullishness.
<Copyright © TokenPost. All Rights Reserved. >