Their analysis suggests a potential correction in October, followed by a bullish surge in November. Another analyst, XRP-Jonny, has a more optimistic prediction, expecting XRP to rally massively in the coming months and potentially reach $589 by 2025.
According to the analysis of the LINA/USDT chart on an hourly basis, here are some observations for today:
Overall Trend: • Current price: 0.006422 USDT, down 1.40% over 24 hours. • The trend remains bearish, as shown by the configuration of the moving averages (MA9, MA20, MA50) which cross downwards.
Technical Indicators: 1. Moving Averages (MA): • The MA(9) at 0.006595 is below the MA(20) at 0.006649 and the MA(50) at 0.006660, which confirms a bearish dynamic. 2. MACD: • The MACD is in negative territory (-0.000033), with the signal line still above the MACD line. This reinforces the selling pressure. 3. RSI (Relative Strength Index): • The RSI(7) is at 31.4, close to the oversold zone (30), indicating a potential technical rebound if buyers show up. • The RSI(20) remains higher at 42.8, indicating overall market weakness. 4. Volume: • Volumes seem to be slightly decreasing, which may signal a lack of conviction from buyers to reverse the trend.
Key Levels: • Support: 0.006290 USDT (next key level observed). • Resistance: 0.006709 USDT (average of purchase prices). • If the price breaks below 0.006290, a new decline could occur.
Conclusion:
For today, the trend remains bearish with a limited technical rebound potential, to be monitored around the support at 0.006290 USDT. If buyers regain control, a return to 0.0067 is possible. However, confirmation with increasing volume is needed to validate a bullish recovery.
Suggested Strategy: • Buy if price shows signs of rebounding at support with RSI rising above 35. • Sell or remain cautious if price continues to decline below 0.006290 USDT.