XRP/USDT – 4H – SELLThe pair Ripple/Tether (XRP/USDT) goes from the ascending trendline down.
A bearish movement downwards to the next support line at 2.196000000 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 3.035000000 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Matching Low’ chart pattern is found. The candles form ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 3.035000000 |
| Current Price | 3.033500000 |
| Next Low | 2.196000000 |
| 2nd Low | 2.078200000 |
| 3rd Low | 1.908300000 |
3.035000000 – 2.975000000 – 2.327100000 – 2.196000000 – 2.078200000 – 1.908300000
Trading Signals: FOREX – XRP – XRP/USDT – USDT – Matching Low – Triple bottom chart pattern