The coin can move down and test the support level of $0.021, should the bears increase their pressure, the support level of $0.021 may not hold and it will test $0.017.
XRPUSD Price Analysis – August 22
Resistance levels: $0.027, $0.032, $0.036
Support levels: $0.021, $0.017, $0.011
TRX/USD Long-term Trend: Bearish
The buyers of TRX/USD were unable to push the price higher far above the resistance level of $0.027. The price fell due to the bearish pressure towards the support level of $0.021. Some bearish candles were formed which further reduces the price last week. The price is below 9-day EMA and 50-day EMA is below the price. The coin can move down and test the support level of $0.021 this week. Should bears increase their pressure, the support level of $0.021 may not hold and it may be exposed to another support level of $0.017.
However, the price might go up within the next several trading days, in case the demand level at $0.021 holds and there would be a breakout towards the North at $0.027, further increase in price may reach $0.032 and $0.036 price level. The Relative Strength Index Period 14 on the daily chart is below 55 levels with the signal lines pointing towards the south, indicating that there could be a further bearish movement this week.
TRX/BTC Price Long-term Trend: Bearish
TRX/BTC is on the bearish movement. The coin found resistance at 24800 SAT last week; the level happens to be the high of the week. It rallied towards the south as the strong and massive bearish candles emerges, the former support levels at 23200 SAT, 21900 SAT has turned to resistance levels and the price is currently expose to the support level of 20000 SAT.
In case more sellers come in this week, there is a probability that the price will experience further downtrend towards the support level at 18300. Further decrease may test the previous low at 16800 SAT. Sell Stop can be placed at $0.0227, Take Profit at $0.0200 and Stop Loss at $0.02625.