BullishZone
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XRP Price Battle Continues: Can the Bulls Turn the Tide?
XRP Struggles to Break Key Levels
#Xrpđ„đ„ price is currently attempting to break above the key levels of $0.5450 and $0.5500, which could trigger further growth. At the moment, XRP remains consolidated above the $0.5080 support level.
The price is trading near $0.5250 and around the 100-hour simple moving average. On the hourly chart of the XRP/USD pair , there was a break above a key #BEARISHđ trend line with resistance at $0.5380. If the price can clear the resistance levels of $0.5450 and $0.5500, we might see a decent upward movement.
XRP Poised for Growth?
XRP has managed to stay above the $0.5080 support level, unlike #bitcoinâïž and #etherreum , which have seen more significant declines. XRP started a slow rise above the resistance levels of $0.5220 and $0.5320.
The chart shows a break above the bearish trend line, but bulls faced resistance around $0.5450. This resistance is reinforced by the 23.6% Fib retracement level of the downward wave from the $0.6640 swing high to the $0.5070 low.
Currently, the price is hovering around $0.5250 and the 100-hour simple moving average. If the price continues to rise, it could face resistance near $0.5350, with the next major resistance at $0.5450.
A breakthrough above $0.5500 could push the price toward the $0.5850 resistance level, which aligns with the 50% Fib retracement level from the $0.6640 swing high to the $0.5070 low. Further gains could take the price toward the $0.6000 or even $0.6050 in the near future, with the key target for bulls being $0.6250.
Risk of Another Decline?
If XRP fails to clear the $0.5450 resistance zone, another decline could begin. The initial support on the downside is near the $0.5220 level, followed by a more significant support around $0.5150.
A break below the $0.5150 level could cause the price to continue declining toward the $0.5050 support in the near term. The next major support sits around the $0.5000 zone.
Technical Indicators
Hourly MACD: The MACD for XRP/USD is now gaining momentum in the #BullishZone .Hourly RSI (Relative Strength Index): The RSI for XRP/USD is now above the 50 level, indicating bullish strength.Major Support Levels: $0.5250 and $0.5120.Major Resistance Levels: $0.5450 and $0.5500.
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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.â
#Xrpđ„đ„ price is currently attempting to break above the key levels of $0.5450 and $0.5500, which could trigger further growth. At the moment, XRP remains consolidated above the $0.5080 support level.
The price is trading near $0.5250 and around the 100-hour simple moving average. On the hourly chart of the XRP/USD pair , there was a break above a key #BEARISHđ trend line with resistance at $0.5380. If the price can clear the resistance levels of $0.5450 and $0.5500, we might see a decent upward movement.
XRP Poised for Growth?
XRP has managed to stay above the $0.5080 support level, unlike #bitcoinâïž and #etherreum , which have seen more significant declines. XRP started a slow rise above the resistance levels of $0.5220 and $0.5320.
The chart shows a break above the bearish trend line, but bulls faced resistance around $0.5450. This resistance is reinforced by the 23.6% Fib retracement level of the downward wave from the $0.6640 swing high to the $0.5070 low.
Currently, the price is hovering around $0.5250 and the 100-hour simple moving average. If the price continues to rise, it could face resistance near $0.5350, with the next major resistance at $0.5450.
A breakthrough above $0.5500 could push the price toward the $0.5850 resistance level, which aligns with the 50% Fib retracement level from the $0.6640 swing high to the $0.5070 low. Further gains could take the price toward the $0.6000 or even $0.6050 in the near future, with the key target for bulls being $0.6250.
Risk of Another Decline?
If XRP fails to clear the $0.5450 resistance zone, another decline could begin. The initial support on the downside is near the $0.5220 level, followed by a more significant support around $0.5150.
A break below the $0.5150 level could cause the price to continue declining toward the $0.5050 support in the near term. The next major support sits around the $0.5000 zone.
Technical Indicators
Hourly MACD: The MACD for XRP/USD is now gaining momentum in the #BullishZone .Hourly RSI (Relative Strength Index): The RSI for XRP/USD is now above the 50 level, indicating bullish strength.Major Support Levels: $0.5250 and $0.5120.Major Resistance Levels: $0.5450 and $0.5500.
Stay one step ahead â follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.â
đ„đ„đ„ #bitcoinprice Rebounds, But Could the Downtrend Return?
Bitcoin Price Struggles to Overcome Key Resistance Levels
- Bitcoin ($BTC ) remains supported near $52,500 and is attempting to recover from recent losses. However, the cryptocurrency faces significant resistance around $55,200 and $55,500.
1. Current Price Action: Bitcoin is trading below $55,200 and the 100-hourly Simple Moving Average. A key bearish trend line is forming with resistance at $55,200 on the hourly BTC/USD chart (data from Kraken). The cryptocurrency may find it challenging to rise above the $55,500 or $56,000 resistance levels in the near term.
Bitcoin Price Recovery Attempt
- After extending losses below the $55,500 support zone and dropping below $53,200, Bitcoin tested the $52,500 level, forming a low at $52,569. The price is now attempting a recovery, moving above $53,200 and $54,000 resistance levels. It has also surpassed the 23.6% Fibonacci retracement level of the decline from $58,508 to $52,569.
- Despite this, Bitcoin is struggling to move above the $55,500 resistance zone. The price remains below $55,200 and the 100-hourly Simple Moving Average. Resistance near $55,200 includes a key bearish trend line and aligns with the 50% Fibonacci retracement level of the recent downward move.
Resistance and Support Levels
- The first major resistance is near $55,500. A clear break above this level could lead to further gains, potentially pushing the price toward $56,200, and possibly $57,500 if the upward momentum continues.
- On the downside, if Bitcoin fails to rise above $55,500, it could face further declines. Immediate support is around $54,000, with more significant support near $53,200 and $52,500. Additional losses may see the price move toward the $51,800 support level.
Technical Indicators:
- Hourly MACD: Losing momentum in the #BullishZone .
- Hourly RSI: Currently above the 50 level.
- Major Support Levels: $54,000, $53,200
- Major Resistance Levels: $55,200, $55,500
Source - newsbtc.com
#CryptoTrends2024 #BinanceSquareBTC #CryptoMarketTrend
Bitcoin Price Struggles to Overcome Key Resistance Levels
- Bitcoin ($BTC ) remains supported near $52,500 and is attempting to recover from recent losses. However, the cryptocurrency faces significant resistance around $55,200 and $55,500.
1. Current Price Action: Bitcoin is trading below $55,200 and the 100-hourly Simple Moving Average. A key bearish trend line is forming with resistance at $55,200 on the hourly BTC/USD chart (data from Kraken). The cryptocurrency may find it challenging to rise above the $55,500 or $56,000 resistance levels in the near term.
Bitcoin Price Recovery Attempt
- After extending losses below the $55,500 support zone and dropping below $53,200, Bitcoin tested the $52,500 level, forming a low at $52,569. The price is now attempting a recovery, moving above $53,200 and $54,000 resistance levels. It has also surpassed the 23.6% Fibonacci retracement level of the decline from $58,508 to $52,569.
- Despite this, Bitcoin is struggling to move above the $55,500 resistance zone. The price remains below $55,200 and the 100-hourly Simple Moving Average. Resistance near $55,200 includes a key bearish trend line and aligns with the 50% Fibonacci retracement level of the recent downward move.
Resistance and Support Levels
- The first major resistance is near $55,500. A clear break above this level could lead to further gains, potentially pushing the price toward $56,200, and possibly $57,500 if the upward momentum continues.
- On the downside, if Bitcoin fails to rise above $55,500, it could face further declines. Immediate support is around $54,000, with more significant support near $53,200 and $52,500. Additional losses may see the price move toward the $51,800 support level.
Technical Indicators:
- Hourly MACD: Losing momentum in the #BullishZone .
- Hourly RSI: Currently above the 50 level.
- Major Support Levels: $54,000, $53,200
- Major Resistance Levels: $55,200, $55,500
Source - newsbtc.com
#CryptoTrends2024 #BinanceSquareBTC #CryptoMarketTrend
