Four days ago Ripple broke out of the downward channel to ran in to an old peak resistance line. RSI recovered from oversold conditions.
The question now is will the upperband of the old downward channel serve as support.. or is this nothing more than a failed break and will ripple fall back in to its old downward channel..
For me its to hard to tell right now..
The question now is will the upperband of the old downward channel serve as support.. or is this nothing more than a failed break and will ripple fall back in to its old downward channel..
For me its to hard to tell right now..
Note
Ripple seems to have some support on the upperband of the downward channel. Despite risk seems biggest on the downside!Note
Upward support seems to have been found.. but very doubtfull if there is enough strength to overcome the horizontal resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.