XRP/USDT – 30M – SELLThe combination Ripple/Tether (XRP/USDT) jumps from the bullish trendline down.
A bearish trend downwards to the next support line at 2.366200000 is expected.
Caution: A possible change in the direction of the resistance line at 2.452200000 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 2.3667444 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support line at 2.452200000 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Two Crows’ chart pattern is existing. The chart shows ‘Two Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 2.909200000 |
| 2nd High | 2.728100000 |
| Next High | 2.452200000 |
| Current Price | 2.442800000 |
| Next Low | 2.366200000 |
| 2nd Low | 2.364100000 |
| 3rd Low | 2.343400000 |