My XRP XRP/USDT analysis at this moment.
1. Price Movement:
• The 15m chart shows a clear downtrend as the price consistently makes lower highs and lower lows.
• On the 1h chart, a retracement occurred but momentum has stalled, with the price hitting resistance near the mid-Bollinger band.
• The 4h chart indicates a slight uptrend recovery but overall, the price remains below key moving averages and near support levels.
2. Technical Indicators:
• Bollinger Bands:
• The price is testing the lower Bollinger band on shorter timeframes (15m, 1h), signaling oversold conditions in the near term.
• MACD:
• On the 15m chart, MACD is bearish (negative histogram and signal line crossover).
• The 4h chart shows a bullish MACD crossover, suggesting recovery potential.
• RSI:
• On the 15m chart, RSI is below 30 (oversold zone), while on the 4h chart it hovers around 50, indicating indecision.
• Volume:
• Decreased volume on the up moves suggests weakening buying interest.
3. Bias and Outlook:
• Current Bias: Neutral to Bearish.
• Near-term support is around 2.3647. A breakdown below this level could trigger further declines.
• Resistance sits near the 2.40 region, corresponding to the mid-Bollinger band and MA(10) on higher timeframes.
• Key levels to watch:
• Support: 2.3647
• Resistance: 2.40 – 2.45$
