XRP/USDT – 4H – SELLThe combination Ripple/Tether (XRP/USDT) jumps from the bullish trendline downwards
A bearish descent down to the next support line at 2.114900000 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 2.350700000 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘On Neck’ chart pattern is discovered. The candles form ‘On Neck’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 2.909200000 |
| 2nd High | 2.728100000 |
| Next High | 2.350700000 |
| Current Price | 2.136200000 |
| Next Low | 2.114900000 |
| 2nd Low | 1.900000000 |
| 3rd Low | 1.283300000 |