XRP/USDT – 1H – SELL

The currency pair Ripple/Tether (XRP/USDT) jumps from the bearish trendline down.

A continuation of the downtrend downwards to the next support line at 3.001000000 is likely expected.

Caution: A possible change in the direction of the resistance level at 3.178400000 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘RSI fall below 30’ indicator layout is detected. The indicator shows ‘RSI fall below 30’. which is often a bearish chart signal. The currency pair is likely to fall.

Furthermore a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which could be a negative chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 3.001 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support line at 3.178400000 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘On Neck’ candlestick chart pattern is discovered. The candles form ‘On Neck’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

3.178400000 – 3.162100000 – 3.185600000 – 3.001000000 – 3.053300000 – 3.078800000 — 36.652012646498 – 36.350319657147

Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – On Neck – Symmetrical Triangle Chart Pattern –