Crypto Technicals: XRP/USD finds stiff resistance at 21W-EMA (0.3008), break above to accentuate gains
Wed, 16 Oct 2019, 10:41 am UTC
XRP/USD chart - Trading View
Exchange - Kraken
Support: 0.2718 (21-EMA); Resistance: 0.3008 (21W-EMA)
Technical Analysis: Bias Bullish
XRP/USD has paused downside, holds above 5-DMA support (0.5820).
Technical indicators are biased higher. Price is consolidating break above daily cloud.
Momentum studies are bullish. 'Bullish divergence' on RSI and Stochs support upside.
Stiff resistance is seen at 21W EMA at 0.3008. Breakout above will accentuate gains.
Stochastics oscillator is at overbought levels, minor pullback are seen as a result.
Breakout at 21W EMA finds next major hurdle at 200-DMA (0.3289). Break above confirms further upside.
On the flipside, 5-DMA is immediate support at 0.2850. Break below 21-EMA (0.2718) negates near-term bullishness.
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