Will XAPUSD break above 0.66155 resisance?
Looking at previous data (Every time price broke above the 0.66155)
1. 11 Dec - 17 Dec 2017 Week
- Price rallied all the way past 0.91723 to 3.31700 before the huge sell off the following week which saw price go all the way to 0.57!
2. 09 Apr - 15 Apr 2018 Week
- Price rallied up past 0.91723 to 0.96490, not as impressive as the first rally. Then a sell-off followed pushing price past the previous 0.57 level to 0.42.
And for close to at least 2 years, we saw price rejecting the 0.66155 level, failing to breach it. But then 2021!!
3. 26 Jul - 01 Apr 2021 Week
- XRPUSD broke the resistance massively, this was after a bullish momentum of 3 weeks before, zooming past 0.91723, and then finally break the $1.00 psychological level and peak at 1.96900. AND THEN A SELL OFF! By the beginning of 2022 price was already below the 0.66155 key level. Again, acting as a ceiling for price.
4. 31 Jan - 06 Jan 2022 Week
- In the last week of January, bulls too charge after sellers failed to breach below 0.58536 which was acting as a minor support. Price pushes up to 0.91723. Before the baton was passed on to bears.
5. 10 Jul - 16 Jul 2023 Week
- Closed that week above 0.66155 resistance, taping 0.91723 before receding.
We haven't seen price break and close above the 0.66155 level after the 5th attempt (10 Jul - 16 Jul 2023 Week). It has tried for close to 9 weeks (not consecutively) and failing every single time. But with how things are moving, already 2 weeks of bullish reign, could we see price attempting to cross over the resistance?
NB: If you have been paying attention, you'll notice that in all the instance I listed above the 0.91723 level has been tapped. In all the INSTANCES. For those that are not getting it, every time price crosses above 0.66155, it touches the 0.91723 level. Then decisions are made there on whether to continue the bullish momentum or opposite. Do with this information what you would.
1. 11 Dec - 17 Dec 2017 Week
- Price rallied all the way past 0.91723 to 3.31700 before the huge sell off the following week which saw price go all the way to 0.57!
2. 09 Apr - 15 Apr 2018 Week
- Price rallied up past 0.91723 to 0.96490, not as impressive as the first rally. Then a sell-off followed pushing price past the previous 0.57 level to 0.42.
And for close to at least 2 years, we saw price rejecting the 0.66155 level, failing to breach it. But then 2021!!
3. 26 Jul - 01 Apr 2021 Week
- XRPUSD broke the resistance massively, this was after a bullish momentum of 3 weeks before, zooming past 0.91723, and then finally break the $1.00 psychological level and peak at 1.96900. AND THEN A SELL OFF! By the beginning of 2022 price was already below the 0.66155 key level. Again, acting as a ceiling for price.
4. 31 Jan - 06 Jan 2022 Week
- In the last week of January, bulls too charge after sellers failed to breach below 0.58536 which was acting as a minor support. Price pushes up to 0.91723. Before the baton was passed on to bears.
5. 10 Jul - 16 Jul 2023 Week
- Closed that week above 0.66155 resistance, taping 0.91723 before receding.
We haven't seen price break and close above the 0.66155 level after the 5th attempt (10 Jul - 16 Jul 2023 Week). It has tried for close to 9 weeks (not consecutively) and failing every single time. But with how things are moving, already 2 weeks of bullish reign, could we see price attempting to cross over the resistance?
NB: If you have been paying attention, you'll notice that in all the instance I listed above the 0.91723 level has been tapped. In all the INSTANCES. For those that are not getting it, every time price crosses above 0.66155, it touches the 0.91723 level. Then decisions are made there on whether to continue the bullish momentum or opposite. Do with this information what you would.
Note
0.66155 resistance remains undefeated! As we wait for another try?
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