XRPUSD to see support from midline and see uptrend further (1D)

12 авг. 2020 г.

Market in last 1 week
-XRPUSD saw a downtrend after rejection from the upper Bollinger Band
-Price volatility was very high. The market moved ~14.97%, between $0.31 and $0.27

Today’s Trend analysis
-XRPUSD expected to see downtrend and after getting support from midline band an uptrend
-Price at time of publishing: $0.282
-XRP’s market cap: $12.69 Billion
-Oscillator indicators are mostly neutral. RSI at 62 in the neutral region.
-Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
-Volume indicators were constant in the last few candles except an increase in the red candle

Price expected to see downtrend and after getting support from midline band an uptrend as the price is trading inside the bands and rejected from the upper band. Most of the Oscillator indicators are neutral. MACD histogram is negative, size increasing in the negative region. RSI at 62, in the neutral region with a downmove. CCI at 28, in the neutral region, decreasing downwards. Another interesting point to notice here is that the volume was same except one candle saw a spike when price saw the lowest of the week, with volume being less than the 20-candle moving average.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles.

DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.

Note: Above analysis would hold true if we do not encounter sudden jump in trade volume .

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- Mudrex