Baxia Markets News

XPR struggles to consolidate breakout

Written by Baxia Markets | Oct 5, 2021 4:00:00 AM

The cryptocurrency is showing recovery signs, but it has not been able to complete the resistance breakout at $1.06267 on our 38.2% Fibonacci retracement.

The Bollinger bands are closing up, indicating consolidation. We could see the price on this level for a few sessions; the markets are uncertain as the asset is trading inside the Ichimoku cloud, the price has been moving sideways for the last three trading sessions.

 



The relative strength index is currently at 54%, which is a good level as it will allow the price to move in either direction once the consolidation period is over.

Our parabolic SAR indicator suggests that the price will continue to move upwards, while the short and long-term moving averages indicate a downward trend as they crossed 16 sessions ago.

 

We love to hear new ideas from traders and want to know what you think! 

 

If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

 

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

 

Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.