XRP, EOS, Synthetix Price Anaylsis: 04 April

By Saif Naqvi12 days ago


XRP cushioned losses at $0.57-support after getting rejected at the upper ceiling of $0.63. EOS attempted to reclaim the $6.08 resistance, while SNX was unlikely to sustain above $21.6 even if the price broke north over the coming sessions.


Source: XRP/USD, TradingView

Having recovered from lows of $0.4, XRP saw a favorable month of March and posted gains of 30% during this time period. While the price did get rejected at a strong ceiling of $0.63, it found support at $0.57 and avoided a further sell-off. This has been a recurring theme since mid-March but the cryptocurrency has maintained higher levels despite the occasional sell-off.

These movements suggested that XRP was not in an accumulation phase and higher levels could be forthcoming if the bulls hold on to the present-support line. If the red bars on the Awesome Oscillator do slip below the equilibrium mark, a bearish outcome was possible. This would highlight support at $0.54. On the other hand, the RSI pointed north from 53 and denied a breakdown possibility.


Source: EOS/USD, TradingView

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