XRP/USD: technical analysis 03.04.2018

XRPUSDH403042018

Current trend

On 4-hour chart, XRP/USD price went up above the level of 0.4882 (Murray [0/8]).

If the current trend maintains, XRP/USD can grow further to the levels of 0.5127 (Murray [1/8]) and 0.5371 (Murray [2/8]), where is a high chance of a downward rebound.

The downward trend will be restored after the price is set below the level of 0.4806, which is the middle line of Bollinger Bands.

In this case, the next targets of sellers will be the level of 0.4638 (Murray [-1/8]), 0.4394 (Murray [-2/8]).

Technical indicators mostly reflect the moderate maintenance of the current upward movement.

MACD volumes are decreasing in the negative zone.

Stochastic’s lines are pointed upwards.

Bollinger Bands are pointed sideways.

Support and resistance

Support levels: 0.4882, 0.4638, 0.4394.

Resistance levels: 0.5127, 0.5371, 0.5615.

Trading recommendations

Long positions can be opened above the level of 0.5127 with the target at around 0.5371-0.5615 and stop loss 0.4950.

Short positions can be opened below the level of 0.4806 with the target at around 0.4638-0.4394 and stop loss 0.4980.