Distribution territories: $1.00, $1.10, $1.20.
Accumulation territories: $0.40, $0.30, $0.20.
This week also, Ripple’s XRP notably saw more lower lows than lower highs. The bears currently seem to be having the upper hand over the bulls as the trend continues ranging. The pair slightly declined southward under the trend lines of both the 13-day SMA and 50-day SMA, while still being within a long-definite range bound. The 13-day SMA has crossed over the 50-day SMA, while the market value is beneath it.
The Stochastic Oscillators have dipped into the oversold zone. They show that the bears are getting weaker. The current ranging trend is more likely going to be breached upward than downward. The bears can still be in command for a short while, before the bulls can take over and ride the market. Investors can possibly join the market once a decent surge is seen. Traders can watch out for a breakout to join the market with the use of proper financial management rules.
The views and opinions expressed here do not reflect that of Jacky Le and do not constitute financial advice. Always do your own research
