As I've written in the title, this resistance is very old, I had it drawn for a long time, I didn't think it was still valid but it's currently working as resistance. Moreover there's a bearish DIV on 4h RSI and, always at the same timeframe, VLPR shows control line is 20% lower than current price. I think a retracement is most likely than another leg up here.
As you can see XPR went +114% after the breakout of that descending channel, a price drop would be acceptable but in the long run this will go over his previous ATH.
Stay focused.
As you can see XPR went +114% after the breakout of that descending channel, a price drop would be acceptable but in the long run this will go over his previous ATH.
Stay focused.
Comentário:
Here a picture from 1h chart. XPR is testing a support right now, should it bounce upward it might breakout but in case it'll go down the first dashed line is a support between 0.5 and 0.618 Fib line, which sounds perfect for a reversal. Right now XPR doesn't follow $BTC 100% so if BTC keep retracing a bit after that pump it's not sure XPR will dump as well.
Comentário:
XPR reversal happened in the zone I had told you. Right now price is over previous resistance but with a clear bearish DIV on at least 2 indicators (not all of them though, for example not on CCI) and touching TMA upper band. It's possible it'll go down but if it goes there former R has to hold price and become S. Let's see!
Comentário:
ah, I forgot to say, if RSI breaks bearish DIV line this will keep pumping!
Comentário:
XPR is not stopping, it has hit my second reistance and broke the bearish DIV. Volume keeps rising, if things remains like that it can easily make of this resistance a support