XRP/BHD الدينار البحريني
Taken @ September 9th, 2021
XRP/USDT
XRP rallied and closed above the overhead resistance at $1.35 on Sep. 6 but the breakout proved to be a bull trap. The bears sold aggressively and pulled the price to the 50-day SMA ($0.98).
The long tail on Sept. 7 and today’s candlesticks show that bulls are attempting to defend the 50-day SMA. If the price sustains above $1.05, the buyers will try to push the XRP/USDT pair above the 20-day EMA ($1.18).
If they manage to do that, the pair could consolidate between $1.05 and $1.35 for a few days. On the contrary, if bears sustain the price below $1.05, the likelihood of a break below the 50-day SMA increases.
Source
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