XRP appears to have reversed its one-month downtrend. But as many exchanges are determined to remove the cryptocurrency from the list in the coming weeks, some selling pressure could arise. Tron is seeing a strong uptrend and has tested resistance at $ 0.03. Zcash notes consistent sales and that it was unlikely to exceed $ 71.
XRP
Source: XRP / USD on TradingView
Over the past seven days, XRP has rebounded from the low of $ 0.17 to trade at $ 0.286. The duration of this northward movement indicated that the earlier downtrend from early December was over.
The RSI Rising above the neutral line to indicate bullish momentum. It is wandering into overbought territory on the 4 hour chart. The $ 0.3 level rejects XRP in the last few hours. But we can expect XRP to hold onto the $ 0.275 mark.
If this defense is successful, another attempt at $ 0.3 can be expected over the next few days. Closing a session below $ 0.275 will suggest XRP is heading further south to support at $ 0.255.
Brad Garlinghouse is threatening to leave the United States over regulatory issues in October. He might be forced to pull through. Asian markets still retain their confidence in the token. However, SBI Holdings of Japan has publicly stated that XRP is not a stock.
Tron [TRX]
Source: TRX / USDT on TradingView
Using the $ 0.0237 swing low Gann fan lines, we plot some potential resistance and support levels at the horizontal importance levels in parallel.
We observe that we respect the fan lines at the time of publication. Price faced resistance from the 1: 1 line after breaking above $ 0.03.
The MACD shows that a strong bullish momentum was behind TRX and although it has had to deal with some selling in the last few hours. Pushing the price back below $ 0.032, its outlook remained optimistic.
Zcash [ZEC]
Source: ZEC / USDT on TradingView
The long-term trend for ZEC is downward. The impressive rally in November was followed by steady selling volume, as the OBV shows.
The ZEC sees some rebounds on its downtrend. The current rebound is longer than the previous ones. Which suggests that a possible trend reversal like with XRP could be likely.
However, we always orient theOBV to the south. Unless that changes, the $ 71 level can be a formidable resistance. Indeed, he already rejected a previously strong movement with momentum about 10 days ago. It could start again.
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