XRP sank to $0.22 and has traded for most of 2020 at or under $0.3, with about 60 days only of trading above this mark. The short-term outlook for XRP was extremely bearish, although a dead cat bounce can occur. Cosmos saw rising bullish sentiment as it tested the $5.45 level of resistance once more, while Basic Attention Token traded within a range.
XRP showed an oversold bullish divergence between price and momentum on the 4-hour charts. Yet, this was one of those situations where technical analysis can’t be applied effectively.
News of Coinbase delisting XRP, effective January 19th, 2021 because of the SEC lawsuit comes alongside OKCoin and Bitstamp moving to delist XRP as well.
It is not possible to trade in a vacuum, and while XRP scalp trades can still be placed and profited off of, spot holdings faced a more grim scenario with regard to XRP.
The Directional Movement Index showed that ATOM was beginning a strong uptrend as the ADX and the +DMI (yellow and blue) moved above the 20 value.
The OBV also registered higher lows to indicate rising buying volume behind ATOM.
There is a level of resistance for the bulls to overcome at $5.45, while the region around $5.2 can be expected to serve as a region of demand for ATOM.
Basic Attention Token [BAT]
BAT has been trading within the $0.22 resistance and $0.2 support levels over the past few days. A close outside the range followed by a retest of that boundary level would indicate the direction of the next move for BAT.
Scalp trades can also be placed to trade within this range for BAT. The trading volume has been flat and a rise in volume would accompany any breakout.
The MACD showed weak bullish momentum till a few days ago but formed a bearish crossover beneath the zero line. Unless BAT manages to move above the mid-point of the range at $0.212 over the next few hours, there exists the likelihood that bearish momentum would force BAT to cede the $0.2 level of support.