Jeremy Martinez, senior technical analyst at, thinks that Ripple (XRP) has been struggling to stay above the 20-day EMA. Martinez also said that this is a bearish sign as it suggests that buying dries up at higher levels. The 20-day EMA is flat and the RSI is close to the midpoint, which points to a consolidation in the short term.
The XRP/USD pair has strong support in the $0.35660–$0.37835 zone.’s senior technical analyst also said that If the pair bounces off this zone, the bulls will again try to push it back above the 20-day EMA. On the other hand, if the support breaks down, the cryptocurrency will become negative and can plunge to the critical support of $0.27795. For now, traders can keep the stop loss on the long position at $0.35.
According to the opinion of Martinez, Litecoin (LTC) failed to sustain above the overhead resistance of $140.3450 on June 12. He hope traders booked partial profits on their remaining long position closer to $140 as suggested in the previous analysis. The remaining position can be protected with stops just below the 20-day EMA
Usually, in a strong uptrend, the pullback lasts for one to three days. The trend in the LTC/USD pair is still bullish as both the moving averages are sloping up and the RSI is in positive territory.
The resistance line of the ascending channel will act as the first support and below it the next strong support is at the 20-day EMA. If the price rebounds from either level, the bulls will again try to scale $140.3450 and extend the rally to $158.91 and above it to $184.7940.
Conversely, if the cryptocurrency fails to bounce off the supports, it will turn negative. A fall below the 20-day EMA can drag it towards the 50-day SMA, said the specialist.


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