Tag: pressure

The XRP price falls to $ 2.54, but the open interest reaches $ 5.49 billion, indicating a bullish pressure

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  • The MACD crossing supports the continuation of the upward trend.
  • XRP maintains a key support in USD 2.50, pointing at an objective price of USD 2.71.
  • A break below USD 2.50 could push the price to USD 2.29.

    • XRP has decreased slightly to USD 2.54 in the last 24 hours, but the increase in open interest indicates that traders can be preparing for a possible rebound.

    According to derivative data, the open interest in XRP futures has increased to USD 5.51 billion, its highest level in three months, which suggests greater speculative activity and renewed upward pressure even when the price cools.

    Open interest refers to the total number of active derivative contracts that have not yet been liquidated.

    When it goes up with price fluctuations, or despite them, it usually indicates the entry of new capital into the market and an accumulation of leverage positions.

    Despite the slight pricing, market participants seem to be positioning for a larger movement.

    XRP PriceFountain: Coinmarketcap

    The MACD indicator shows a bullish configuration

    The technical analysis further supports the case of a prolonged rally.

    The MACD indicator (MACD) of mobile sock convergence, a widely followed tool to evaluate the market impulse, shows the XRP MACD line well above its signal line.

    This type of crossing is considered a trigger bullish by many traders.

    The positive configuration of the MACD suggests that buyers currently have control.

    If the impulse continues to increase, XRP could attract more volume, increasing the probability of a price rupture above the current range.

    That said, this scenario would only remain valid if the Token avoids falling below the key support levels.

    The support in USD 2.50 is still crucial

    XRP’s short -term perspectives will depend on their ability to maintain the support zone of 2.50 dollars.

    A new successful test of this level could create sufficient purchase pressure to test the maximum of March of USD 2.71.

    Such movement would further reinforce the upward trend, especially if the open interest and volume continue to increase.

    However, if the price fails to stay above USD 2.50, there is a risk of a deeper setback.

    The next significant support level is found in USD 2.29, which could act as a minimum price in case of an increase in sales pressure.

    Traders change their approach to XRP derivatives

    Although much of the cryptocurrency market in general remains moderate, the higher performance of XRP has displaced attention to its derivative market.

    The strong increase in open interest reflects a renewed appetite for speculative positioning, especially among traders seeking to capitalize short -term price movements.

    The rebound also arrives at a time when XRP has remained largely within the range for several weeks.

    The recent rebound in derivatives may indicate a change in feeling, since institutional and retail investors seek exposure through leverage instruments.

    As always, the sustainability of the rebound will depend on several external factors, including the broader feeling of the market, the regulatory developments around Ripple and the macroeconomic signals.

    But with the increase in open interest and alcist technical patterns, XRP could continue to lead the profits, at least in the short term.

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    Hbar’s price falls 3.4% as RSI and Bop indicators point to greater sales pressure

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  • The RSI stands at 44.62.
  • The balance of power indicator returns a negative reading of -0.23.
  • The following key support is 0,150 dollars; The resistance is 0.185 dollars.

    • The native token of Hedera, Hbar, is showing signs of intensification of the bearish impulse, since technical indicators such as the relative force index (RSI) and the balance of power (BOP) suggest a growing domain of vendors in the market.

    The price of the Token has fallen 3.4% in the last week, now quoting at 0.1703 dollars, below its maximum of April 0.1747 dollars.

    This fall has left Hbar struggling to stay above the key support levels, with the RSI reading in a worrying 44.62 in the one day graph.

    Fountain: Coinmarketcap

    The RSI, a key impulse indicator used to evaluate whether a cryptocurrency is overcompraded or oversized, operates on a scale of 0 to 100. A RSI value below 50 usually reflects a weakening of the price impulse.

    In the case of Hbar, the fact that its RSI falls below the neutral brand of 50 and has a downward trend indicates a growing sales pressure.

    Unless there is a strong upward movement, the current trend can reinforce new declines.

    Power balance reading becomes negative

    In addition to the RSI, the Hbar power equilibrium indicator has become negative, with a reading of -0.23 from the latest data.

    The balance of payments compare the relative force of buyers and sellers for a defined period of time.

    A negative reading of the balance of payments means that sellers are currently more dominant, which could even weigh the Hbar price in the next few days.

    When the balance of payments remains in negative territory during a bearish trend, it reflects a continuous bearish feeling throughout the market.

    Combined with the low HBAR performance in other indicators, this suggests that buyers are currently marginalized and may need a strong trigger, such as a rebound throughout the market or an important development in the Hedera network, to recover the impulse.

    The price quotes below the key trend line

    Hbar has also fallen below a descending trend line, which reinforces the bearish configuration.

    A line of descending trend is drawn by connecting lower maximums for a period, indicating a constant downward pressure on the price.

    If Hbar fails to break this line up, the trend can be maintained.

    This formation has kept the token blocked on a descending channel for several weeks.

    While the price action remains below the trend line, technical traders can see this as a signal to sell or sell the asset in short.

    In the event that the descent continues, the next key support level is close to USD 0.150.

    A rupture below this level could pave the way for new losses unless a strong demand emerges again.

    What Hbar needs for recovery

    While the technical panorama is still weak, some factors could help change the impulse in favor of Hbar.

    A rupture above the line of descending trend, if accompanied by an increase in volume, could initiate a reversal and allow the Token to point to a recovery towards USD 0.185.

    This level represents a key resistance zone, previously tested at the end of April.

    However, for that to happen, Hbar needs to see a renewed interest of investors, either for positive developments in the hedera ecosystem or a broader recovery in the Altcoins market.

    Without a significant catalyst, the impulse indicators of the Token continue to suggest short -term bearish conditions.

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