XRP/USDT – 1H – SELL

The currency pair Ripple/Tether (XRP/USDT) goes from the bullish trendline down.

A bearish movement down to the next support at 2.981400000 will continue.

Caution: A possible reversal of the trend in the direction of the resistance level at 3.139700000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a negative signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 2.9532 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support line at 3.139700000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Outside Down’ candle pattern is existing. The candles show ‘Three Outside Down’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

3.139700000 – 3.058600000 – 3.066900000 – 2.981400000 – 2.964200000 – 2.953200000 — 25.696664566973 – 25.527008548423

Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – Three Outside Down – Double top retreat up – –