Long

$XRP, Sleeping Giant

Weekly "Trend": currently in a bear trend, however, some signs of support found on the weekly. 1st sign of support is the Fibonacci retracement @ the 87% level from our swing low @ 38 satoshis to our swing high @ 22,963 satoshis. 2nd sign of support is the 2nd bounce off a possible uptrend line, meeting our subjective support drawn @ 2,700 satoshis. Bearish momentum at a momentary pause, looking for a correction. Last time we were in a descending pattern we saw a break from 4,500 satoshis as high as 11,600, this move happen in a week.

Daily "Pattern": Shifting over to our pattern timeframe we see attempting to break our resistance @ 2,700, a daily close above this level and expect a nice drive towards the upside. Stochastic RSI showing momentum in favor of bulls with no signs of slowing down. Daily resistance @ 3,300 & 4,000 satoshis

UnknownUnicorn2434649

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.