Breakout achieved, we may see a retracement to R1 or R2 targets. Given the history of this currencies movement, with large breakouts resulting in large retracements, it wouldn't be unexpected.
Although volume remains consistent while being over the EMA, the RSI is in an overbought position.
Predicted the buy zone around the 1030 price, however the buy zone was in fact around the 979 zone, also a previous support on the 22nd of April.
Given that the 979 zone reaches approximately 20 on the RSI, with my target buy zone reaching 30.
As for sale targets, we may see some unloading around the 0.618 Fib level, however my end targets will be the 0.5 and...
We can see a clear cup pattern on ICX, to complete the pattern a handle must occur. We can see some support and resistance on the 0.618 and 0.786 Fib levels. If the handle does occur, we may see consolidation between the 0.382 and 0.236 Fib levels. Volume has remained consistent.
XRP has seen an approximate gain of ~25% within the past week, given this statistic combined with the oversold position on the RSI I have prepared for a minor pullback of 200-300 sats. followed by the gain continuum. However, given the general market consensus it is also perfectly reasonable to assume the trend will continue.
Breakout achieved, we can see resistance at the previous ATH, in combination with the oversold position on the RSI. This breakout can be seen accompanied by a large increase in volume, the key indicator.
We may see a minor retracement to the previous support or resistance. I have taken some profits from this breakout and will me closely monitoring this currency.
So NCASH is holding the support line well and consolidating between the support and resistance, due to the time period since the H&S pattern formation and lack of breakout past the support I would classify it as nullified, the RSI support is holding stable as well. However volume continues to diminish, which is a negative sign for any future resistance breakouts,...
Following on from the last publication, the H&S trend reversal was rejected and the price is consolidating between two clearly defined support and resistance lines, with the RSI also showing a support level. Long wicks on the support level indicate a failed attempt at price reduction, however diminishing volume is witnessed, an increase in volume is required to...
Although a head and shoulders pattern was seen, there was no subsequent retracement, despite a formation accompanied by a bullish divergence on the RSI. Close monitoring of this currency is crucial, as a retracement may be imminent. However, an increase in volume and RSI is seen on the latest price increase, potentially nullifying the previous formation.
An...
ICX showing strong support within the 0.23 Fib level. Each Fibonacci level demonstrates support and resistance, particularly within the latter movements, currently showing resistance at the 0.38 retracement, with the long wick indicating an attempt and failure at break. One of the few high volume currencies to not experience a significant breakout.
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Disclaimer: my publications are personal journals for self-education and development, they are not financial advice.
So the Elliot Wave momentum continued to the 3rd point (although on the exact line I originally plotted ;), nonetheless, we saw a brief travel along the support line, followed by a bounce to the resistance line at point 4. During the momentum...
Disclaimer: my publications are personal journals for self-education and development, they are not financial advice.
Intended as a short-term analysis, this chart demonstrates that the Elliot Wave market psychology theory is present within XRP, also indicating the possibility of a falling wedge development (however I feel an increase in volume near the tip would...
