The move towards $ 0.45 indicated by XRP was quickly blocked after the bears in the market interfered with the charts. COMP was predicted to drop to $ 300, but there are also signs of an early uptrend reversal.
XRP price analysis
On the hourly charts, XRP recovered towards the $ 0.45 level after the formation of a bearish marubozu candlestick. However, the bears soon took control of the market once again. The RSI revisited the oversold territory after a short rise. The MACD histogram indicated a drop in bearish momentum even if the Signal line moved well above the fast-moving line.
However, on the buying side, there is a lack of momentum to warrant a move above the current resistance level. In the event of an unexpected break upward, the next resistance level is at $ 0.5.
Compound (COMP) price analysis
As momentum on the sales side increased, Compound lost its support of $ 412.3. COMP is trading around $ 340, down 25% from yesterday. The Awesome Oscillator registered bearish momentum as the red bars rose below the half line. In the event of an extended decline, the next level of support can be found at $ 300.
On the other hand, the Stochastic RSI is optimistic in its forecast as it is on the verge of showing a bullish trend in the oversold zone. A comeback at the current level could see COMP revisiting the $ 412.3 mark.