On today’s crypto market, the price of TRX/USD pair has been fluctuating sideways perhaps due to the indecisiveness indicated by the RSI indicator that has been hovering between midpoints over the last 24hrs. Despite the horizontal movement that steadily moved on a tight range between $0.01830 resistance level and $0.01902, support level. TRX/USD pair opened the day trading at $0.01862, followed by the bull’s control that pushed the price north to close at $0.01876. However, the bulls could not sustain the bullishness; thus, bears resumed the downside trend and slipped the price down to the current price.
At the moment, the long-term SMA has crossover the short-term SMA thus suggesting a negative outlook in short ran. However, the RSI is pointing north-indicating reduction in selling pressure.
Currently, the bearish pressure is on the peak; thus, a break below $0.01902 level may trigger further downside move. Therefore, investors should take a short position and place their new targets near $0.01700.
Unlike TRX, LTC/USD pair showed a spike by 2.8% over the intraday. The famous coin jumped from $58.076 to $58.889, showing that the bulls have been on the throne. A bullish trend-line was also formed, indicating high interest in buying. Currently, $59.822 resistance level is being targeted. However, the positive sentiments showcased by the ascending trend-line, may not last since the technical indicators are now expressing negative scenarios. The long-term SMA has crossed above the short-term SMA and the RSI is declining below level 50, indicating a high possibility for further downside correction in the near term.
A break below the bullish-trend line marked at $58.500 may start a bearish rally that could correlate losses below $57.000. Nevertheless, if the price finds its way above $59.822, the bullish trend may proceed and test new resistance level near $65.000.
XRP/USD pair, on the other hand, is trading bearish; the popular coin first saw a bullish movement that pushed the price from $0.269 to an intraday high of $0.267. However, at around 21:00 there was a bearish crossover exhibited by the moving averages, also the RSI indicator dipped near the negative territory suggesting bearish expectations. The downside moves dipped the price to now changing hands at $0.259. Afterwards, investor’s sentiments have likely reduced, which has led to an intense selling pressure.
At the press time, the price is struggling to break below critical support level defined near $0.257. Thereby, a significant break below $0.258 may start a new downside move that may rally lower below $0.235 level.
Cryptocurrency Charts By Tradingview
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
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