Crypto Technicals: XRP/USD pauses at 0.34 handle, consolidation likely before next leg higher
Fri, 14 Feb 2020, 08:50 am UTC
XRP/USD chart - Trading View
Exchange - Kraken
Technical Analysis: Bias Bullish
GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish
Overbought/ Oversold Index: Overbought
Volatility: High and Rising
Support: 0.3024 (5-DMA); Resistance: 0.3413 (50% Fib)
XRP/USD has paused upside at 0.34 handle, bias remains bullish.
The pair was trading 1.49% lower on the day at 0.3225 at around 08:45 GMT.
Momentum is with the bulls, but overbought oscillators can hamper gains.
Minor correction or sideways consolidation likely before the next leg higher.
5-DMA is immediate support at 0.3023. Break below 200-DMA (0.2551) will negate near-term upside.
On the flipside, resumption of upside will see gains till 61.8% Fib at 0.3807. Further upside only on break above.
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