While looking at the technical chart of XRP/USDT for one hour, it can be seen that the coin has been trading below the surface of the 200-day moving average for several days. The bears are slandering XRP to maintain their trend, even though it attempted to break out of the surface. In addition, at the time this article was written, the line representing XRP’s 200-day moving average was functioning as a major barrier. If XRP is successful in pushing over its 200-day moving average, then we can anticipate that the price of XRP will rise above the $0.39 mark.
Technical Analysis of XRP/USDT for the Past Hour
However, the value of XRP’s Relative Strength Index (RSI) is currently showing at 61.60, which is near the oversold region represented by a value of 70 for RSI, which is where a price reversal is possible.
Technical Analysis of MATIC and USDT for One Hour
The second chart shows a technical examination of the Polygon Network during the preceding hour (MATIC). Since the beginning of the month, MATIC’s price has been trading at a level that is lower than its 200-day moving average. It indicates that the coin is going through a period of declining value. At this time, selling pressure is keeping bears in command of the market. In the MATIC market, the resistance zone can be found between $1.1895 and $1.1663, and the support zone can be found between $1.1030 and $1.0924.
If MATIC can advance to the zone of resistance and then successfully break out of it, we can anticipate that MATIC will soar to a price of $1.3040 or higher. On the other hand, there is also the chance that it will fall to $1.0659, which is another option.
Technical Analysis of the BNB/USDT 1-Hour Chart
The third and final chart depicts Binance’s native token, which is the company’s proprietary cryptocurrency. Binance is currently the largest cryptocurrency exchange in the world. The current price of Binance Coin (BNB) is $286.5, trading at a price that is lower than its 200-day moving average and so showing a bearish trend. At the moment, BNB is trading in a range that is quite near to the previous support area, which was $282.9. If it breaks through that support level, BNB may fall to levels as low as $250.
The RSI for BNB is currently showing a value of 41.9; however, if the RSI value dips below the 30 thresholds of oversold value, then we can anticipate a few reversal patterns that would reverse the present bearish trend. But, to achieve a higher risk-to-reward ratio in their trade, investors should seek a few confirmation patterns before making their move.
Analytics Insight was the first site to publish The Top Rising Three Cryptos in the Previous 24 Hours: XRP, MATIC, and BNB.
