XRP/USDT (D1) Time Frame Analysis

XRPUSDT
Education
12 day(s) ago
(You should have a close look at the chart and go through all the details to get a better understanding of the analysis.)

Price can currently be seen lying on a strong support starting from $1.09 to $1.0460 and is facing D1 50 and 21 EMA resistance at the $1.1330 level.

Price seems trapped between the the resistance and support where if it manages to break through the EMA resistance, it would still need to break through the key level resistance zone starting from $1.1750 to $1.2170 where breaking through and holding above for a few days will be a good bullish sign for moving upwards to levels of $1.32, $1.4160 and $1.54.

Incase of a breakdown from current support, we have another strong support zone under the current one starting from $0.9750 to $0.9190 where D1 200 EMA is also aligning very well with it. Waiting for a clear move will be our best bet in this case for a potential entry.

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