XRP/USDT – 30M – SELLThe currency pair Ripple/Tether (XRP/USDT) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support at is certain.
Caution: A possible counter-trend in the direction of the resistance level at 3.485500000 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The currency pair is likely to fall.
Additionally a ‘Shooting Star’ candlestick chart pattern is discovered. The candles show ‘Shooting Star’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3.660700000 |
| 2nd High | 3.545000000 |
| Next High | 3.485500000 |
| Current Price | 3.420200000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
3.485500000 – 3.545000000 – 3.660700000 – 3.343900000 – 3.400500000 – 3.167500000
Trading Signals: FOREX – XRP – XRP/USDT – USDT – Shooting Star – Double bottom chart pattern