- XRD token price after consolidating at the long term demand zone failed to sustain and fell below it.
- At present, the token is trading at the demand zone at $0.1017 with a decrease of -4.30%.
- The pair of XRD/BTC is trading at 0.00000286 with a decrease of -3.56% in the market cap of the digital asset over the past 24 hours.
XRD Token’s price is in a strong downtrend after breaking down the long-term demand zone and turning the supply zone at $0.15. There seems no hope for recovery in the Token as it again failed to surpass the important supply zone of $0.15. The Token has started forming lower low and lower high formation on a daily time frame. The Token fell after facing rejection at 50 and 100 EMA, and currently, it is trading below the vital 50 and 100 EMA.
XRD token price is currently below 20 EMA after the facing rejection of the green trendline. The Token is trading at the lower band of the Bollinger band indicator after failing to surpass the upper band of the Bollinger band indicator.
The Token recently broke down the crucial demand zone at $0.15, and after doing a retest at the long-term supply zone of $0.15, it has started falling again. Investors should be cautious and not take a long position until the $0.15 price level is not broken. Volumes have increased over the last trading days, causing volatility to increase, and thus investors should wait until the price settles and then take trades.
XRD token price is forming double bottom pattern on daily time frame
XRD token price, as per the price action, is forming a double bottom pattern as it has managed to stay above the long term demand zone. The technical parameters are suggesting the same.
Supertrend: Recent bearishness in the price of the XRD token led to the long term crucial demand zone breakdown at $0.15, and the supertrend gave a sell signal. The Token is currently trading below the supertrend line, acting as resistance. If the token bounces off the super trend trendline, there can be a bearish movement in the digital asset price. If the Token is able to break out of the supply zone at $0.15 sustain the above super trend buy line, it can turn into a bullish trend that can push the price up to $0.2049
Moving Average Convergence Divergence (Bullish): MACD indicates a bearish trend on the daily time frame as it gave a negative crossover. The seller’s signal line (orange) crossed the buyer’s signal line(blue) on the downside, indicating a possible continuation of the bearish momentum.If such momentum continues the token can fall rapidly and will become difficult for the token to recover.
RSI and ADX are showing bearish signs on daily time frame
XRD token has fallen below the demand zone and currently after retesting the demand zone turned supply zone it has again started falling. And the technical parameters are also suggesting the same.
Relative Strength Indicator: RSI is trading at 35.90, and recently the RSI Curve has given a negative crossover of 20 SMA. RSI Curve has fallen below the halfway mark of 50. The trend is bearish as of now, and it will continue until the Token crosses the price of $0.15 on the upside.
Average Directional Movement Index: ADX dipped below 30 as Token’s price fell. After the retest of the supply zone, the Token has started falling again, and the ADX curve is depicting the same.ADX curve has turned downwards, indicating a strong bearish movement for the upcoming trading days if the bulls do not take control and push the price higher.
Conclusion
RADIX token price, as per the price action is in strong downtrend and the technical parameters suggest the same. It remains to see if the token is able to push above $0.15 supply zone or bears keep the control pushing the price furthermore down.
SUPPORT: $0.10 and $0.093
RESISTANCE: $0.13 and $0.15
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.