XRP New bottom, is everything so bad?
In recent times, the price of Ripple has begun to decline drastically.
Most people who trade this coin or hold this asset start to panic.
So let's figure out what to expect in the future.
The main levels:
0.51000 - strong resistance.
0.31600 - is a local resistance that has been tested several times. First, at the beginning of 2019, more seriously in July, and later in September and November. For the next test, the price may once again depart from it. This level can be considered strong, but if the price can break it, then most likely there will be a powerful impulse for growth.
0.28500 - local support, which actively showed itself at the beginning of 2019. Most likely, with the breakdown of this level and price fixing above it, there will be an increase to 0.31600.
0.24700 - global support that buyers were able to successfully break through.
0.21500 - local support, under which many traders had stop loss.
0.17100 - perhaps the new global minimum Ripple in two years. But do not take it as 100%.
Action plan:
The level of 0.24700 was the level of global support that buyers were able to break through, however, do not forget about this level. From him (even better said from the zone 0.24700-0.27700) there was tremendous growth.
Therefore, if the price can be fixed above 0.21500 and breaks the trend line (red line), then there will be an increase to 0.24700. Ideally, if buyers can fixes over the level of 0.24700, then the price increase is likely to continue.
When a trend breaks, there will be my favorite pattern with a pullback in the price - a bullish trend - a pullback. On breaking through the trend, you should think about buying.
But the price may also push away from the trend, after which there will most likely be a small consolidation.
After collecting stop losses at the level of 0.21500 , i have an idea that the price will go at least 0.20400.
The indicators show the following:
-CCI unloaded and get ready to break through the level of -100, which hints at a slight increase.
-MAs move down by all the rules, which shows a downtrend. Since now the trend is really downward, as the new low is lower than the previous one. Therefore, we should expect a retest to the corridor between MAs (approximately at 0.24700, but possibly lower), after which if there is no bright support, then the price will go back again.
Conclusion:
In the coming days, ideally see a price increase to continue the scenario described above.
But if the price cannot go higher and break the trend line, then the decline will continue.
The only thing that can stop it is 0.20400 (today the new low of Ripple).
If the price cannot be fixed above 0.20400, then the level of 0.17100 will probably be a minimum until the end of 2019.
Most people who trade this coin or hold this asset start to panic.
So let's figure out what to expect in the future.
The main levels:
0.51000 - strong resistance.
0.31600 - is a local resistance that has been tested several times. First, at the beginning of 2019, more seriously in July, and later in September and November. For the next test, the price may once again depart from it. This level can be considered strong, but if the price can break it, then most likely there will be a powerful impulse for growth.
0.28500 - local support, which actively showed itself at the beginning of 2019. Most likely, with the breakdown of this level and price fixing above it, there will be an increase to 0.31600.
0.24700 - global support that buyers were able to successfully break through.
0.21500 - local support, under which many traders had stop loss.
0.17100 - perhaps the new global minimum Ripple in two years. But do not take it as 100%.
Action plan:
The level of 0.24700 was the level of global support that buyers were able to break through, however, do not forget about this level. From him (even better said from the zone 0.24700-0.27700) there was tremendous growth.
Therefore, if the price can be fixed above 0.21500 and breaks the trend line (red line), then there will be an increase to 0.24700. Ideally, if buyers can fixes over the level of 0.24700, then the price increase is likely to continue.
When a trend breaks, there will be my favorite pattern with a pullback in the price - a bullish trend - a pullback. On breaking through the trend, you should think about buying.
But the price may also push away from the trend, after which there will most likely be a small consolidation.
After collecting stop losses at the level of 0.21500 , i have an idea that the price will go at least 0.20400.
The indicators show the following:
-CCI unloaded and get ready to break through the level of -100, which hints at a slight increase.
-MAs move down by all the rules, which shows a downtrend. Since now the trend is really downward, as the new low is lower than the previous one. Therefore, we should expect a retest to the corridor between MAs (approximately at 0.24700, but possibly lower), after which if there is no bright support, then the price will go back again.
Conclusion:
In the coming days, ideally see a price increase to continue the scenario described above.
But if the price cannot go higher and break the trend line, then the decline will continue.
The only thing that can stop it is 0.20400 (today the new low of Ripple).
If the price cannot be fixed above 0.20400, then the level of 0.17100 will probably be a minimum until the end of 2019.
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。