XRP was forming a bullish triangle and could breakout to the upside but there was a notable lack of buying volume in recent days. Tron attempted to break out but bears stood firm, and at press time the bears were in control of the market. BAT was forming a series of lower highs as it headed toward an important level of support.
XRP
Source: XRP/USD on TradingView
XRP formed an ascending triangle (white). This is a bullish pattern that could see the price breakout toward the next resistance at $0.267 and beyond.
However, the OBV showed that the buying volume had dropped dramatically in the past couple of weeks. The price was unlikely to move upward since it disagreed with the interest of the market participants.
Hence XRP might face some losses in the next few days.
In other news, Ripple CEO Brad Garlinghouse recently said that tech firms had an “obligation” to contribute to working on societal issues, and was against Coinbase’s apolitical stance.
Tron [TRX]
Source: TRX/USDT on TradingView
TRX was forming a symmetrical triangle (white) and appeared to break out a few days ago. Trading volume spiked, but the next session saw even more intense trading activity as sellers forced the price back downward.
Subsequently, the asset had a weak move upward but did not possess bullish momentum. The MACD formed a bearish crossover and appeared to be headed beneath the zero line.
The next level of support for TRX lies at $0.0258.
Basic Attention Token [BAT]
Source: BAT/USD on TradingView
The moving averages painted a bearish picture for BAT. The 21 EMA (white) has been moving beneath the 55 EMA (pink) for the better part of the previous month.
At the time of writing, the 21 EMA looked to dive beneath the 55 EMA, following BAT’s drop from $0.224 to $0.211.
The asset has a level of support at $0.2 and bulls would have to defend this important level to initiate a period of accumulation.
