Analysis

XRP, EOS, IOTA Price Analysis: 21 January

Published

4 years ago

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Source: Pixabay

XRP tested the $0.3 level of resistance repeatedly, and flipping this level of resistance to support would be a significant development for the bulls. EOS showed neutral short-term momentum as it traded above a level of support. IOTA climbed past $0.45 and targeted the $0.54 level of resistance.

XRP

Source: XRP/USD on TradingView

XRP has made a series of higher lows over the past few days as it repeatedly tested the $0.3 level of resistance. The RSI rose above neutral 50 and has stayed above it for nearly 60 hours, a suggestion that bulls might be gathering strength to breach the resistance and flip it to support.

The Stochastic RSI was recovering from its dip into oversold territory. The trading volume has been minimal. If the flip to support occurs on minimal trading volume, it is likely to reverse as a lack of volume suggests a lack of market conviction. A rejection would see XRP dip to $0.26 in the coming days.

In other news, former Ripple advisor Michael Barr is expected to be nominated by President Biden to the post of Comptroller of Currency (CoC).

EOS

Source: EOS/USDT

on TradingView

Like many altcoins on the market, EOS too saw low trading volumes over the past few days. The Bollinger bands tightened around the price to show reduced volatility. EOS held on to the $2.73 level of support.

Over the past week, EOS has been trading between $2.73 and $2.88 and did not indicate noticeable momentum on the charts. The OBV showed some equilibrium between buyers and sellers.

Either side of $2.73 lies the $3 resistance and $2.6 support to watch, should EOS show some activity in the markets.

IOTA

Source: IOTA/USD on TradingView

IOTA had formed an ascending triangle pattern, broken out, dipped back down to $0.44 to test a region of supply flipped to demand, and climbed to $0.48 once more.

IOTA was valued at $0.5 back in June 2019, and it had then been significant to the price as sellers stepped in at that level with strength. This could repeat. Hence, rising past this region would be a show of bullish strength and would see the price test the $0.54 level of resistance.

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