XRP - USDT on 4H interval Targets and Stoploss
I invite you to review the XRP chart against USDT, taking into account the four-hour interval. First, we will use the yellow lines to mark the downtrend channel in which the price is moving.
Moving on, we can move on to marking the support areas when the price starts to reverse. And here in the first place we have a support zone from $0.38 to $0.37, when the price falls below this zone we have a second zone of strong support from $0.35 to $0.33.
Looking the other way, we see that the price has reached the resistance point at $ 0.39, which so far has no strength to break. However, if it manages to break out above, we have a second support at $0.40, then a resistance zone from $0.41 to $0.42, and then resistance at $0.43.
Please look at the CHOP index, which indicates that most of the energy has been used, the MACD indicates that we are moving in a local uptrend, while the RSI shows a significant increase and we are approaching the upper end of the range, where the price often has a rebound.
Moving on, we can move on to marking the support areas when the price starts to reverse. And here in the first place we have a support zone from $0.38 to $0.37, when the price falls below this zone we have a second zone of strong support from $0.35 to $0.33.
Looking the other way, we see that the price has reached the resistance point at $ 0.39, which so far has no strength to break. However, if it manages to break out above, we have a second support at $0.40, then a resistance zone from $0.41 to $0.42, and then resistance at $0.43.
Please look at the CHOP index, which indicates that most of the energy has been used, the MACD indicates that we are moving in a local uptrend, while the RSI shows a significant increase and we are approaching the upper end of the range, where the price often has a rebound.