XRP/USDT – 30M – BUYThe pair Ripple/Tether (XRP/USDT) breaks through the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance line at 3.660700000 will continue.
Caution: A possible trend reversal in the direction of the support line at 3.167500000 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bullish Engulfing’ candle chart pattern is found. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 3.660700000 |
| Current Price | 3.490000000 |
| Next Low | 3.167500000 |
| 2nd Low | 2.987300000 |
| 3rd Low | 2.877400000 |
3.660700000 – 3.298600000 – 3.100000000 – 3.167500000 – 2.987300000 – 2.877400000
Trading Signals: FOREX – XRP – XRP/USDT – USDT – Bullish Engulfing – Double bottom retreat down