XRP/USDT – 30M – SELL

The currency pair Ripple/Tether (XRP/USDT) goes from the bullish trendline down.

A descent downwards to the next support at 3.499600000 is certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 3.649500000 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 3.5021 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 3.649500000 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Matching Low’ candle chart pattern is detected. The chart shows ‘Matching Low’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).

3.649500000 – 3.580900000 – 3.557900000 – 3.499600000 – 3.403800000 – 3.380000000

Trading Signals: FOREX – XRP – XRP/USDT – USDT – Matching Low – Rising Wedge Chart Pattern