XRP/USDT 4HInterval check the current situation
I invite you to review the XRP chart in pair to USDT, also on a one-day interval. First, we will use the purple lines to mark the downtrend channel in which the price is currently moving.
Moving on, we can move on to marking support areas when we start a larger correction. And here, the first support is at $0.45, the second support is at $0.43, the third support is at $0.41, and then the fourth support is at $0.39.
Looking the other way, we see that the price has reached the first resistance at $ 0.48, which so far has no strength to break. However, if it manages to break out above, the second resistance is at $0.51, the third at $0.53, and then the fourth at $0.55.
At this point, it is worth looking at the EMA Cross 10 and 30, which indicate that we are on the verge of returning to an uptrend.
The CHOP index indicates that most of the energy has been used, the MACD indicates that we are moving in a local uptrend, while the RSI has a return to the upper part of the range, which may give a moment of recovery before further growth.
Moving on, we can move on to marking support areas when we start a larger correction. And here, the first support is at $0.45, the second support is at $0.43, the third support is at $0.41, and then the fourth support is at $0.39.
Looking the other way, we see that the price has reached the first resistance at $ 0.48, which so far has no strength to break. However, if it manages to break out above, the second resistance is at $0.51, the third at $0.53, and then the fourth at $0.55.
At this point, it is worth looking at the EMA Cross 10 and 30, which indicate that we are on the verge of returning to an uptrend.
The CHOP index indicates that most of the energy has been used, the MACD indicates that we are moving in a local uptrend, while the RSI has a return to the upper part of the range, which may give a moment of recovery before further growth.