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The post Bitcoin Recovery Lacks Conviction, Market Signals Another Pullback Risk appeared com. Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through. Continue reading Bitcoin Recovery Lacks Conviction, Market Signals Another Pullback Risk→

XRP price started a fresh decline below $2. 50. The price is now showing bearish signs and is at risk of more losses below $2. 30 in the near term. XRP price gained bearish momentum and traded below $2. 350. The price is now trading below $2. 420 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $2. 550 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a recovery wave if it stays above $2. 30. XRP Price Dips Further XRP price remained in a bearish zone below $2. 550 and extended losses, like Bitcoin and Ethereum. The price dipped below the $2. 50 and $2. 420 levels. The decline gained pace after there was a close below $2. 40. The price even tested $2. 250. A low was formed at $2. 260, and the price is now correcting some losses. There was a move above the 23. 6% Fib retracement level of the downward move from the $2. 552 swing high to the $2. 260 low. The price is now trading below $2. 40 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2. 40 level and the 50% Fib retracement level of the downward move from the $2. 552 swing high to the $2. 260 low. The first major resistance is near the $2. 480 level, above which the price could rise and test $2. 550. There is also a bearish trend line forming with resistance at $2. 550 on the hourly chart of the XRP/USD pair. A clear move above the $2. 550 resistance might send the price toward the $2. 60 resistance. Any more gains might send the price toward the $2. 650 resistance. The next major hurdle for the bulls might be near $2. 720. Another Decline? If XRP fails to clear the $2. 50 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2. 320 level. The next major support is near the $2. 30 level. If there is a downside break and a close below the $2. 30 level, the price might continue to decline toward $2. 250. The next major support sits near the $2. 220 zone, below which the price could continue lower toward $2. 20. Technical Indicators Hourly MACD The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) The RSI for XRP/USD is now below the 50 level. Major Support Levels $2. 320 and $2. 250. Major Resistance Levels $2. 50 and $2. 550. Continue reading XRP Price Downtrend Extends — Sellers Target Fresh Lows After Support Break→