Hello friends, what do you think about XRPUSDT?
Currently, XRPUSDT is correcting above the broken resistance area after reaching the 0.7442 mark (where below the active rising channel). Theoretically, the price is retracing to test the previous breakout, which should create a strong reaction, so what happens next?
On H1, the Fibo support levels of 0.618 at 0.6823 and 0.5 at 0.6632 are formed and the price is trying to retest them, which increases the possibility of a price increase. But! If sellers break this zone, the price could test local support before moving further.
The uptrend remains stable on the H1 frame, with no false breakouts pushing the price down. A retest of Fibo will provide impetus for higher levels.
Resistance levels: 0.7055, 0.7310, Fibo 0.8443
Support levels: Fibo 0.6823, 0.6632, EMA 0.6295
I expect price consolidation above the Fibo level to confirm that the market is ready to rise.
Currently, XRPUSDT is correcting above the broken resistance area after reaching the 0.7442 mark (where below the active rising channel). Theoretically, the price is retracing to test the previous breakout, which should create a strong reaction, so what happens next?
On H1, the Fibo support levels of 0.618 at 0.6823 and 0.5 at 0.6632 are formed and the price is trying to retest them, which increases the possibility of a price increase. But! If sellers break this zone, the price could test local support before moving further.
The uptrend remains stable on the H1 frame, with no false breakouts pushing the price down. A retest of Fibo will provide impetus for higher levels.
Resistance levels: 0.7055, 0.7310, Fibo 0.8443
Support levels: Fibo 0.6823, 0.6632, EMA 0.6295
I expect price consolidation above the Fibo level to confirm that the market is ready to rise.
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