XRPUSD(4Hr) : XRP oscillating as it moves sideways
Market in the last 24hrs
The price touched the upper Bollinger band and accepted it as a resistance line and now can be seen moving in downward momentum towards the bottom Bollinger band. Trading volume has been high in the last 24 hours but is on the lower side of the spectrum when compared to last week.
Today’s Trend analysis
The recent tick is suggesting that the price has accepted the bottom Bollinger band as a support line which would indicate a slight bullish momentum till the price reaches the upper Bollinger band.
Price volatility was low at approximately 4.74%, with the day's range between $1.04 — $1.13.
Price at the time of publishing: $1.05
XRP’s market cap: $49.11 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 7 are neutral and 3 are giving a BUY signal.
Out of 15 Moving average indicators, 14 are giving SELL signal, 1 is giving neutral and 0 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
The price touched the upper Bollinger band and accepted it as a resistance line and now can be seen moving in downward momentum towards the bottom Bollinger band. Trading volume has been high in the last 24 hours but is on the lower side of the spectrum when compared to last week.
Today’s Trend analysis
The recent tick is suggesting that the price has accepted the bottom Bollinger band as a support line which would indicate a slight bullish momentum till the price reaches the upper Bollinger band.
Price volatility was low at approximately 4.74%, with the day's range between $1.04 — $1.13.
Price at the time of publishing: $1.05
XRP’s market cap: $49.11 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 7 are neutral and 3 are giving a BUY signal.
Out of 15 Moving average indicators, 14 are giving SELL signal, 1 is giving neutral and 0 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
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