XRP/USDT – 1H – SELL

The pair Ripple/Tether (XRP/USDT) jumps from the bearish trendline downwards

A continuation of the downward movement downwards to the next support level at 3.421800000 will persist.

Caution: A possible trend reversal in the direction of the resistance level at 3.649500000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair could go down.

In addition a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 3.4186648 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 3.649500000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Black Crows’ candlestick pattern is existing. The chart shows ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.

3.649500000 – 3.557900000 – 3.485500000 – 3.421800000 – 3.403800000 – 3.354700000

Trading Signals: FOREX – XRP – XRP/USDT – USDT – Three Black Crows – Symmetrical Triangle Chart Pattern