XRP/USDT – 30M – SELLThe combination Ripple/Tether (XRP/USDT) goes from the descending trendline down.
A continuation of the bearish trend down to the next support level at 3.380000000 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 3.535200000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which is often a bearish signal. The currency pair is likely to fall.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is certain. Target of the current trend is 3.4900532 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 3.535200000 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Two Crows’ chart pattern is existing. The chart shows ‘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 probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3.660700000 |
| 2nd High | 3.545000000 |
| Next High | 3.535200000 |
| Current Price | 3.518300000 |
| Next Low | 3.380000000 |
| 2nd Low | 3.354700000 |
| 3rd Low | 3.343900000 |
3.535200000 – 3.451300000 – 3.459400000 – 3.380000000 – 3.354700000 – 3.343900000
Trading Signals: FOREX – XRP – XRP/USDT – USDT – Two Crows – Triple bottom chart pattern