After the massive increase in price on XRP recently it is time to zoom out and look at the most important horizontal levels of support and resistance.
These historical price points can help us to predict reversal points today. On the chart I tried to explain as clearly as possible why I charted certain levels and how to use them.
Overall I feel bullish on XRP, but in order for me to enter a long I would first want to see the level of $0.50 be confirmed. Then, through an S/R flip we could enter a long position.
Being more of a short term trader myself, I would go for a target of $0.60 at first. This will already give you a fantastic 15% gain. Obviously, the risk is high too with a 25% drop to the most nearby support. However, if we can confirm the 50cents as support I am less worried about that.
- Trading-Guru
These historical price points can help us to predict reversal points today. On the chart I tried to explain as clearly as possible why I charted certain levels and how to use them.
Overall I feel bullish on XRP, but in order for me to enter a long I would first want to see the level of $0.50 be confirmed. Then, through an S/R flip we could enter a long position.
Being more of a short term trader myself, I would go for a target of $0.60 at first. This will already give you a fantastic 15% gain. Obviously, the risk is high too with a 25% drop to the most nearby support. However, if we can confirm the 50cents as support I am less worried about that.
- Trading-Guru
Nota
Such amazing gains, even after the first increase of 60%. Who would've thought we would see gains to 160% so soon already!In my next idea, I update this chart with the most recent information:
Thảo luận về những biến động và nói cùng nhau về thị trường giao dịch ở cộng đồng Telegram này nhé!
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Thảo luận về những biến động và nói cùng nhau về thị trường giao dịch ở cộng đồng Telegram này nhé!
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.