Will XAPUSD break above 0.66155 resisance?Looking at previous data (Every time price broke above the 0.66155 )
1. 11 Dec - 17 Dec 2017 Week
- Price rallied all the way past 0.91723 to 3.31700 before the huge sell off the following week which saw price go all the way to 0.57!
2. 09 Apr - 15 Apr 2018 Week
- Price rallied up past 0.91723 to 0.96490, not as impressive as the first rally. Then a sell-off followed pushing price past the previous 0.57 level to 0.42.
And for close to at least 2 years, we saw price rejecting the 0.66155 level, failing to breach it. But then 2021!!
3. 26 Jul - 01 Apr 2021 Week
- XRPUSD broke the resistance massively, this was after a bullish momentum of 3 weeks before, zooming past 0.91723 , and then finally break the $1.00 psychological level and peak at 1.96900. AND THEN A SELL OFF! By the beginning of 2022 price was already below the 0.66155 key level. Again, acting as a ceiling for price.
4. 31 Jan - 06 Jan 2022 Week
- In the last week of January, bulls too charge after sellers failed to breach below 0.58536 which was acting as a minor support. Price pushes up to 0.91723 . Before the baton was passed on to bears.
5. 10 Jul - 16 Jul 2023 Week
- Closed that week above 0.66155 resistance, taping 0.91723 before receding.
We haven't seen price break and close above the 0.66155 level after the 5th attempt (10 Jul - 16 Jul 2023 Week). It has tried for close to 9 weeks (not consecutively) and failing every single time. But with how things are moving, already 2 weeks of bullish reign, could we see price attempting to cross over the resistance?
NB: If you have been paying attention, you'll notice that in all the instance I listed above the 0.91723 level has been tapped. In all the INSTANCES. For those that are not getting it, every time price crosses above 0.66155 , it touches the 0.91723 level. Then decisions are made there on whether to continue the bullish momentum or opposite. Do with this information what you would.
