XRP/USDT – 4H – SELL

The pair Ripple/Tether (XRP/USDT) moves from the bullish trendline downwards

A descending movement downwards to the next support line at 2.892000000 is certain.

Caution: A possible counter-trend in the direction of the resistance level at 3.334200000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart signal. The currency pair is likely to fall.

Then a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which could be a negative signal. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 2.78925 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 3.334200000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Matching Low’ candle pattern is detected. The chart shows ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to rise. 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).

3.334200000 – 3.382500000 – 3.178400000 – 3.115200000 – 2.892000000 – 2.955500000 — 38.061747706045 – 37.357690685833

Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – Matching Low – Symmetrical Triangle Chart Pattern – –