Do you see the descending wedge? See the support coming from the previous lows? Yes, these are good signs to go long.
Also notice that RSI already hit the low (oversold) and STOCH is also bottomed down. MACD is not ready but since its a lagging indicator, it is not a huge problem.
You can see that the market is trying to end the current bear run. Just look at the buy volume spike happened around 0.5760 area. Ultimately it has failed (mainly due to BTCs weakness) but it still signals that bulls are fighting and trying to push the price high.
All in all, there is a limited space left for bears and bulls might take over soon. But of course, it also depends on BTC. BTC must remain neutral, or preferably begin to recover otherwise, all altcoins will remain weak. However, if you check XRPBTC graph as well, it also tells that XRP about to gain some strength against BTC.
Also notice that RSI already hit the low (oversold) and STOCH is also bottomed down. MACD is not ready but since its a lagging indicator, it is not a huge problem.
You can see that the market is trying to end the current bear run. Just look at the buy volume spike happened around 0.5760 area. Ultimately it has failed (mainly due to BTCs weakness) but it still signals that bulls are fighting and trying to push the price high.
All in all, there is a limited space left for bears and bulls might take over soon. But of course, it also depends on BTC. BTC must remain neutral, or preferably begin to recover otherwise, all altcoins will remain weak. However, if you check XRPBTC graph as well, it also tells that XRP about to gain some strength against BTC.
Commentaire:
XRPBTC
