XRDUSD Don't be fooled by this rise

26 Apr 2023

Radix (XRDUSD) is on a strong rise in the past five days. However, unless it closes above the 0.1200 Resistance, it is more likely to seek Support on either the 1D MA50 (blue trend-line) or the 1D MA200 (orange trend-line) before making a new High. That is because based on the 1D RSI, the current 5 day rise may be similar to the dead cat bounce on February 15 and December 15.

If however it closes above the Resistance, this pattern gets invalidated and we will buy, targeting the Higher Highs trend-line at 0.2000.


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