XRP/USDT – 30M – SELLThe currency pair Ripple/Tether (XRP/USDT) moves from the ascending trendline down.
A bearish trend downwards to the next support at 2.366200000 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 2.452200000 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 2.3667444 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 2.452200000 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Two Crows’ candle pattern is found. The candles form ‘Two Crows’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ going 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 |