XRP/USDT – 30M – SELLThe combination Ripple/Tether (XRP/USDT) goes from the ascending trendline downwards
A bearish trend downwards to the next support level at 2.366200000 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 2.452200000 could happen.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 2.3667444 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 2.452200000 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Two Crows’ candlestick chart pattern is existing. The candles show ‘Two Crows’. 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 probability 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 |