This is TECHNICAL ANALYSIS!
Hello investors! It’s been a while since my last XRP analysis, but in my defense the price did nothing since May 11, so I think we’re fine here.
Now XRP did a very classic and powerful bullish sign, a big hammer just after it hit the red line at $ 0.17. This pattern must not be frustrated, because XRP may seek further supports, like one of the pink lines below. But if everything goes accordingly to the plans, we may see a retest of the 38.2% fib retracement, which is amazing. Let’s see more closely, at the hourly chart:
This is interesting. This candle with this ridiculously long shadow is the result of a market with low volume, but the bull’s reaction is still impressive! Also, since you are still reading this, I bet you are finding this analysis somewhat interesting, otherwise you wouldn’t still be here, right? In this case, I invite you to follow me to keep in touch and remember to support this idea!
Back to XRP, it bounced exactly at the red line, and this tells me that XRP obeys the technical analysis very well, even when it faces a stressful moment.
Hopefully we will see another test of the “resistance zone” soon, if the bulls manage to keep the price up.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Now XRP did a very classic and powerful bullish sign, a big hammer just after it hit the red line at $ 0.17. This pattern must not be frustrated, because XRP may seek further supports, like one of the pink lines below. But if everything goes accordingly to the plans, we may see a retest of the 38.2% fib retracement, which is amazing. Let’s see more closely, at the hourly chart:
This is interesting. This candle with this ridiculously long shadow is the result of a market with low volume, but the bull’s reaction is still impressive! Also, since you are still reading this, I bet you are finding this analysis somewhat interesting, otherwise you wouldn’t still be here, right? In this case, I invite you to follow me to keep in touch and remember to support this idea!
Back to XRP, it bounced exactly at the red line, and this tells me that XRP obeys the technical analysis very well, even when it faces a stressful moment.
Hopefully we will see another test of the “resistance zone” soon, if the bulls manage to keep the price up.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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