XRP/USDT – 1H – SELLThe pair Ripple/Tether (XRP/USDT) goes from the bearish trendline down.
A continuation of the downward movement down to the next support line at 3.115200000 is expected.
Caution: A possible change in the direction of the resistance level at 3.306700000 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Tweezers Top’ chart pattern is discovered. The chart forms ‘Tweezers Top’. 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 success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3.347500000 |
| 2nd High | 3.334200000 |
| Next High | 3.306700000 |
| Current Price | 3.284600000 |
| Next Low | 3.115200000 |
| 2nd Low | 2.964100000 |
| 3rd Low | 2.901400000 |
3.306700000 – 3.334200000 – 3.347500000 – 3.115200000 – 3.152100000 – 3.205100000 — 64.256244078335 – 61.849945861387
Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – Tweezers Top – Triple bottom chart pattern – –