XRP is unable to break through the resistance level of $ 0.3. It was trading in the $ 0.28 region, even as announcements of its delisting from popular exchanges arrived. Tron reverses a resistance level to support. But, it did not have a strong upward momentum. Dogecoin was calm on the charts too.
XRP
Source: XRP / USD on TradingView
Using Gann’s eighths rule for the range between $ 0.3 and $ 0.17 for XRP, some intermediate support levels are highlighted. The RSI remains below the neutral value of 50 on the 4 hour charts. This indicates a downward trend. However, the short-term dynamics of XRP are neutral.
Trade volume has been minimal over the past week. Even though the price rose to test the resistance level of $ 0.3 several times.
Tron [TRX]
Source: TRX / USDT on TradingView
TRX respects the 2/1 Gann fan line as resistance. But was able to reverse the $ 0.03 level to support. The MACD showed that momentum was evolving to favor the bulls. Indeed, it formed a bullish cross and crossed the zero line.
OBV does not show spectacular purchasing volumes. But, throughout the month of January, the buying volume increased. The last few days have seen a balance struck between buying and selling. A factor that must change if TRX is to rise towards the $ 0.032 level.
We can expect the 2/1 fan line to serve as resistance again. An above-average upward movement in trading volume is needed to return it to support. There is no evidence of such a move yet.
Dogecoin [DOGE]
Source: DOGE / USDT on TradingView
On the 1 hour graph, DOGE showed very little momentum in either direction. DOGE continues to trade sideways in the $ 0.009 region. The volume of trade is low.
Bollinger bands are tightening around price and the 20 SMA (white). They stay flat for the last two days. The Bollinger Band Width indicator was also on the downside. Even on the 4 hour chart (not shown), volatility in recent days has been declining.
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