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    Home»Analytics»Sixth Attempt to Break Through Resistance in XRP – Coin Analysis
    99a7ed02b47226dbb1b3e94188209dc86512ea3e
    Analytics

    Sixth Attempt to Break Through Resistance in XRP – Coin Analysis

    AdministratorBy Administrator08.03.2022No Comments3 Mins Read
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    Reading time: ~2 m


    Editorial BeInCrypto decided to take a closer look at the situation for a number of popular coins, including XRPwhich leaves no attempts to storm the line of downward resistance.

    BTC

    Since January 24, Bitcoin has been moving above the ascending support line. BTC tested this level four times (green icons). The last time it happened was March 7th. In addition, the price briefly broke below this line twice, but recovered above it.

    As long as this support remains unbroken, the short-term trend can be considered bullish. However, with each new touch, the support lines lose their strength. Therefore, it can be expected that eventually BTC will make its bearish breakout.

    See also: What will happen to bitcoin if the Internet is turned off

    Ascending BTC support

    Source: TradingView

    ETH

    ETH has been trading inside an ascending parallel channel since January 24. The median line of this channel has played the role of resistance many times (red icons). The last time it happened was February 25th.

    On February 28, ETH recovered above the midline and tried to turn it into support.

    However, on March 2, the price fell below this level (green circle) and has been declining ever since. At the moment, the market is approaching the channel support line and support of the February 24 wick (green icon).

    Read also: Ethereum will cost $7,609 in 2022 and $26,338 in 2030

    Sixth Attempt to Break Through Resistance in XRP – Coin

    Source: TradingView

    XRP

    The XRP rate has been declining since February 8, moving under the descending resistance line. The market tested this level six times (red icons), the last time on March 7th.

    Since the resistance lines lose strength with each new touch, you can expect the coin to eventually break out of it. This is the most likely scenario.

    In the event of such a breakout, the next immediate resistance will come into play in the $0.77-$0.80 region. This is the target range formed by the Fibo levels of 0.5-0.618 retracement.

    Read also: Ripple hopes to deal with SEC by November

    XRP Resistance

    Source: TradingView

    SOL

    The coin of the Solana SOL project has been trading inside the “falling wedge” pattern since January 24. The wedge is often considered to be a bullish pattern, which means that the price could make a bullish breakout.

    The RSI and MACD indicators give bullish divergence signals (green line).

    In case of a bullish breakout, the SOL price will target the nearest resistance in the $105 area.

    Read also: Solana projects with great potential: top 6

    SOL Wedge

    Source: TradingView

    AVAX

    Since January 22, the AVAX coin has been rising above the ascending support line, but on February 20 it broke through it, and on March 1 it turned into resistance (red icon). Since then, the price has come down.

    The nearest support is located around $66.

    Which of the minor coins do you consider promising? Share your opinion in the comments and join the discussion in our Telegram channel!

    1646753476 368 Sixth Attempt to Break Through Resistance in XRP – Coin

    Source: TradingView

    Read freshtechnical analysisonbitcoincanhere.

    Disclaimer

    All information contained on our website is published in good faith and objectively and for informational purposes only. The reader is solely responsible for any actions taken by him on the basis of information received on our website.




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    Analysis attempt Break Coin resistance sixth XRP
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