How XRP got the bullish trend confirmation by Bullish Bngulfing
Hello everyone,
XRP is aiming to establish a new price zone between $0.62 and $0.64, which could pave the way for a further rise to $0.71-$0.75.
In this post, I will share with you a clear and easy analysis of the XRPUSDT pair on a 1H chart. As you can see, XRP recovered from the market dump and entered a wide price zone, which indicated a potential upward trend. Before the break of the downtrend line, there were two long-wick candles in the price zone, which showed that the buyers were testing the resistance level. The break of the downtrend line was followed by a strong bullish Engulfing candle, which signaled a reversal of the bearish momentum and a continuation of the bullish trend. I hope you find this analysis useful and informative.
What do you think about this analysis? Do you agree or disagree with it? Please share your thoughts and opinions in the comments below. I would love to hear from you.
Disclaimer: Please note that this is not a financial advice and you should do your own research before making any investment decision
XRP is aiming to establish a new price zone between $0.62 and $0.64, which could pave the way for a further rise to $0.71-$0.75.
In this post, I will share with you a clear and easy analysis of the XRPUSDT pair on a 1H chart. As you can see, XRP recovered from the market dump and entered a wide price zone, which indicated a potential upward trend. Before the break of the downtrend line, there were two long-wick candles in the price zone, which showed that the buyers were testing the resistance level. The break of the downtrend line was followed by a strong bullish Engulfing candle, which signaled a reversal of the bearish momentum and a continuation of the bullish trend. I hope you find this analysis useful and informative.
What do you think about this analysis? Do you agree or disagree with it? Please share your thoughts and opinions in the comments below. I would love to hear from you.
Disclaimer: Please note that this is not a financial advice and you should do your own research before making any investment decision