Price found some support by the daily SMA200 but has been unable to produce a strong bounce. Natural targets above current level is the Weekly pp which is yet untraded at 0.93. And below price we have the untraded Yearly S1 and Weekly S1 confluence support at 0.50. On intradray chart (to the right) price is holding above the Daily pivot point and as long as it does , chances are it will test the R1 at 0.795. A break below and it will likely test the current low at 0.70 and even lower the S1 at 0.66. Overall we are seeing price trying to halt the sharp ongoing drop but Bulls would like to see a freeing green big candle up and a daily close above the 1.00 to shake off some Bears.
i'm following your analysis on xrp and btc lately and they provide very good and accurate guidance. Keep up the good work ! :)
CapMoore
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@mariusoprea, Thanks, I am trying to give quality charting not just abc with predictions. Glad you find them useful.
Marius2306
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@CapMoore, it's far better to have the overall picture with S/R lines and scenarios of what would happen instead of just showing elliot waves and pattern formations and go long and stuff like that. :)
This really gives you a better perspective in understanding the trend and the movement behind it.