XRP/USD: technical analysis 15.03.2018


Current trend

XRP/USD has went down to the area of the level of 0.6378 due to high trading activity.

Technical indicators reflect the active maintenance of the current downward trend.

Bollinger Bands are diverging.

MACD is active growing in the negative zone.

Stochastic’s lines are pointed sideway in the oversold zone.

The lack of long-term corrections reflects the strength of the current trend.

If the current trend maintains, the next targets of sellers will be the level of 0.5859 (Murray [-2/8]), where is the high chance of an upward revers.

Support and resistance

Support levels: 0.5859, 0.4872.

Resistance levels: 0.6835, 0.7812, 0.8789.

Trading recommendations

Short positions can be opened from the current levels with the target at around 0.5859-0.4872 and stop loss 0.6650.

Long positions can be opened after the price rebound from the level of 0.5859 with targets at 0.6835 and stop-loss at 0.5580.