XRP/USDT – 1H – SELLIn addition a ‘Double bottom retreat down’ chart layout is existing. The formation shows ‘Double bottom retreat down’. which is a bearish chart scenario. The currency pair is likely to fall.
The combination Ripple/Tether (XRP/USDT) goes from the bullish trendline down.
A descending movement downwards to the next support line at 3.403800000 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 3.649500000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Northern Doji’ chart pattern is discovered. The candles form ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 3.660700000 |
| Next High | 3.649500000 |
| Current Price | 3.556700000 |
| Next Low | 3.403800000 |
| 2nd Low | 3.354700000 |
| 3rd Low | 3.343900000 |
3.649500000 – 3.557900000 – 3.485500000 – 3.403800000 – 3.354700000 – 3.343900000
Trading Signals: FOREX – XRP – XRP/USDT – USDT – Northern Doji – Double bottom retreat down