XRP/USDT – 30M – SELL

The combination Ripple/Tether (XRP/USDT) jumps from the descending trendline downwards

A continuation of the downtrend down to the next support level at 1.1172 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 1.6122 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘StochRSI %K line crosses below %D line’ indicator layout is found. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish chart signal. The currency pair is likely to fall.

Next a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which could be a negative chart scenario. The currency pair could go down.

Next a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

1.6122 – 1.6339 – 1.6216 – 1.1172 – 1.5274 – 1.7113 —
1.381700000 – 1.544200000 —
67.086814381023 – 79.597146947157 —
– —
1.6122 – 1770193800

Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – Bearish Engulfing – – –