There is also a ‘Falling Wedge Chart Pattern’ chart formation is found. The chart forms ‘Falling Wedge Chart Pattern’. which is a bullish chart scenario. The currency pair is likely to go up.
The combination Ripple/Tether (XRP/USDT) breaks through the descending trendline up.
The bullish trend up to the next resistance level at 2.337000000 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 2.118100000 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Current target is 2.22315 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 2.337000000 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Northern Doji’ chart pattern is existing. The candles show ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 2.354300000 |
2nd High | 2.337900000 |
Next High | 2.337000000 |
Current Price | 2.168800000 |
Next Low | 2.118100000 |
2nd Low | 2.109300000 |
3rd Low | 2.092400000 |
2.337000000 – 2.175900000 – 2.180100000 – 2.118100000 – 2.141700000 – 2.140700000
Trading Signals: FOREX – XRP – XRP/USDT – USDT – Northern Doji