XRP: A breakout is imminent
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Hey! What's up guys?
let's jump right into the 3h chart.
We can see that we are currently in a descending triangle inside a Bullish Pennant and it is about to be broken.
The question is, are we going to test the long term support again at $0.63 or we are in the progress to continue a third wave?
Indicators:
Strong support: $0.63
Buy zone: $0.72
Date of the breakout: 17/05/2018
RSI: 49 (same level than in the breakout of April)
MACD: Showing an uptrend
More details can be found in the picture.
Good luck everyone!
let's jump right into the 3h chart.
We can see that we are currently in a descending triangle inside a Bullish Pennant and it is about to be broken.
The question is, are we going to test the long term support again at $0.63 or we are in the progress to continue a third wave?
Indicators:
Strong support: $0.63
Buy zone: $0.72
Date of the breakout: 17/05/2018
RSI: 49 (same level than in the breakout of April)
MACD: Showing an uptrend
More details can be found in the picture.
Good luck everyone!
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Sorry for my ignorance at this stage - I was very new in technical analysis.
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