XRP/USDT – 30M – SELLThe pair Ripple/Tether (XRP/USDT) moves from the ascending trendline down.
A descent down to the next support line at 1.055600000 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 1.123000000 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 1.1157 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 1.123000000 could happen.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ chart pattern is found. The chart forms ‘Bearish Engulfing’. 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 success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.175800000 |
| 2nd High | 1.148000000 |
| Next High | 1.123000000 |
| Current Price | 1.120000000 |
| Next Low | 1.055600000 |
| 2nd Low | 1.031500000 |
| 3rd Low | 1.002600000 |
Download XRP/USDT Signal Image
Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – Bearish Engulfing