XRP/USDT – 30M – SELLThe combination Ripple/Tether (XRP/USDT) jumps from the descending trendline down.
A continuation of the downward movement down to the next support at 2.078200000 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 2.198000000 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Two Crows’ chart pattern is discovered. The candles form ‘Two Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 2.229600000 |
| 2nd High | 2.212700000 |
| Next High | 2.198000000 |
| Current Price | 2.183100000 |
| Next Low | 2.078200000 |
| 2nd Low | 1.908300000 |
| 3rd Low |
2.198000000 – 2.189700000 – 2.145900000 – 2.078200000 – 2.095600000 – 2.175000000
Trading Signals: FOREX – XRP – XRP/USDT – USDT – Two Crows –