XRPUSD: A breakout above $0.38 is necessary

2018年8月21日

XRPUSDT

Dear traders,

please enjoy my trading analysis, I go straight to the point, no bla bla.

KPIs
-XRP has to break above $0.38 to start a reversal tendency
-If it fails, we could go back to $0.20 - $0.28 zone
-In my opinion, between $0.28 and $0.38 is a no buying zone - we should have a confirmation (with volume) above or below

Arguments
1) Current $0.38 objective is based on the long term parabolic downtrend - it is used as a resistance (in white) - look at how XRP tries to get out of this circle but failed systematically - the more it tries, the more it goes down. Pay attention at how XRP is stuck between this white parabolic trendline and the purple middle term support. To some point, XRP will get it out and explode.

In my future analysis, I will provide details on retracement, so we will be able to narrow down price movement and identify buying or selling opportunities.

2) The second resistance is the EMA55 - XRP succeeded to break it in April but failed against the long term parabolic trendline - today, the long term parabolic trendline is touching EMA55 - so, we might assume that the rock bottom is here or very close, as if XRP breaks EMA55, it will also break the long term trendline - which never happened.

3) In orange, I have drawn a support and resistance line where XRP bounced back and forth; we can potentially foresee an upward price movement based on this inverted triangle.

4) Price contraction among EMA55 long term parabolic downtrend, long term support in orange and middle term support in purple indicate a big price move soon or later.

Ma maîtrise est sans faille et mon Skill sans égal.
Magic'ArKaiN

2018年8月23日

トレード稼働中

Based on the white parabolic trendline, the long term and middle term supports and resistances; I foresee 3 scenarios

Scenario 1: We break above $0.38 and we enter into a new bullrun - it should happen before end of August 2018

Scenario 2: XRP goes down and rebounces back and forth between the long term support in orange and the long term parabolic resistance in white - we enter into a new bull run at the beginning of October 2018

Scenario 3: XRP breaks below the long term support in orange and goes to the middle term support in purple - we enter into a new bull run at the beginning of November 2018