Ripple analysis today
Ripple analysis for today is carried out using a 4 hour time frame log scale. It was mentioned in the previous post that price action breaking to the upside of the bear channel, and also above resistance as indicated by the horizontal blue lines (previous post) would argue for a bullish bias in Ripple (XRP).
Commentary is provided based on the numbers marked on the chart.
(1) Bullish trendline with the most recent pivot occurring on November 4, 2018. Price closing below the trendline negates further upside in the price of Ripple.
(2) ~$0.46 and $0.42 is used in this Ripple analysis to indicate immediate support for Ripple. The support area does coincide with the support region of the trendline i.e. (1) above, therefore increasing the likelihood for resumption of bullish momentum at support.
(3) The Relative strength index (RSI) as shown here indicates that the current momentum has run out. Consequently, it is better to wait for a pull back in price before attempting to join the bullish trend. Retracement and price breaking back above the most recent high is therefore the most conservative entry for a long (buy) position.
Commentary is provided based on the numbers marked on the chart.
(1) Bullish trendline with the most recent pivot occurring on November 4, 2018. Price closing below the trendline negates further upside in the price of Ripple.
(2) ~$0.46 and $0.42 is used in this Ripple analysis to indicate immediate support for Ripple. The support area does coincide with the support region of the trendline i.e. (1) above, therefore increasing the likelihood for resumption of bullish momentum at support.
(3) The Relative strength index (RSI) as shown here indicates that the current momentum has run out. Consequently, it is better to wait for a pull back in price before attempting to join the bullish trend. Retracement and price breaking back above the most recent high is therefore the most conservative entry for a long (buy) position.
関連の投稿
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。