We seem to be forming an inverse head and shoulders on the 1-hour timeframe after hitting the strong support area around 0.78/0.80 earlier and being rejected by the 0.89 resistance. We have also backtested the break back into the large triangle and should see some upside here. RSI is moving nicely around mid-40s and MACD can cross trigger line at any time. As we...
We broke down from the smaller triangle (there was also a short-term ascending channel from which we broke down). Reached the bottom of the larger triangle and now we need to see whether it will bounce from here again like the previous 2 times or whether we will see a move down to the indicated targets. The target in yellow is from the breakdown of the smaller...
We see a definite ascending triangle here which could signal an eventual breakout to the top with the target indicated in purple. We could also be seeing the formation of the Right shoulder of an inverse head and shoulders with the target in green. The MACD just crossed but is still above the signal line and the RSI is above 50 but a bit undecided at the moment....
What I am currently seeing on the daily is the breakdown from the triangle, unsuccessful retest and subsequent drop. Hovering just above 1.10 (1.12) previous resistance that seems to be providing some support at the moment. A break of this level takes us to the next, and fairly strong support in the 1.0 - 1.02 region, also being a psychological support. Breaking...
Ok so now that I have your attention ;) We broke out of the symmetrical triangle that started in April. We are now retesting the bottom of that on triangle. IMO if we don't see a close above 1.46 we will very likely move down again. Due to the size of this triangle the move may be big. If we go through the 1.29 the first bit of support is at 1.13 but that is not...
XRPUSD has been consolidating in the 1.3 - 1.4 area and has formed two flags, one within the other. IF we break out the top of the blue channel we can see a move up to just below the 2 dollar mark. If we see that happening and we can get past the $2 psychological barrier the move may continue over time to the 2.87 area. Fro now though we have been blocked by the...
We have broken below the channel and retested unsuccessfully and also broken the minor support at around 1.32 and now testing the 0.618 which we pierced but bounced slightly on the 200EMA. We crossed below the trigger line on the MACD but getting closer to oversold on the RSI, however there is still space for some downward move. We may see a short-term move up as...
Triple top forming on the 30min timeframe for XRPUSD after we have seen the supply area around 1.43- 1.45 being tested unsuccessfully three times now. If we see another test at the 1.37 - 1.4 support and we break down below that we will retest 1.29 as that is the nearest support. RSI and ADX seem to be under pressure downward as is the MACD. A close above 1.45...
XRPUSD was rejected at the top of the channel again and although there is still some time for the candle to close, the RSI is not ideal and flattening out as is the MACD. A break to the upside seems unlikely if this candle closes below the top of the channel and or triangle. A break up has a target of around 1.7 where a break down will take us closer to the...
On the 30n we currently see testing of a double top formation which, if it plays out could take us down rapidly to the next support around 1.22. But let's see it could still bounce of the current support just below. My call is we see a drop, but hey I'm a noob and this is not trading advice :) Stay safe and do your own TA
We are currently back at the top of the channel we have been going down in the last few days. The MACD is edging upward and there is plenty of room for the RSI to move above the 50. We are holding above the major moving averages so in my noob opinion the only thing lacking here is the pressure that can be created by volume. Volumes have been low and 'sluggish'...
Ok so we hit the correction perfectly as per my previous analysis here We then saw a really nice bounce upwards to the top of the channel and currently above it with the Ichimoku providing some resistance at previous support levels. We should come down and test the channel and then (if held) move up to 2.01 area if we can finally clear that supply area just above...
As I am typing this we are testing the bottom of this support area with a double top in play that could take us down to the bottom of the channel. Also broke down from the triangle and retested unsuccessfully. Declining volumes. MACD below the signal line. RSI heading down and well below 50. If I had to call thsi we are definitely going down and that is how I...
Drew this up this morning as the resistance mid 0.9 has held up for quite a while with falling volumes and it just feels like a healthy correction should be on the cards. I am not an expert in any way and none of this is advice just trying to learn With the current crazy volatility, anything really is possible. Let's see, for now, I am on the sidelines for a bit...
On the daily there seems to be a descending triangle forming (early stages). We seem to have found support above 0.99-1.0 usd. Should it break back through that, I personally see us revisiting the lower 90s where a reasonably solid support level has formed. I think personally that we need to see some retrace for the momentum to get us past the resistance around...
If we look at the 1 h chart it seems that everything is indicating a break to the upside which could see us at the top of the channel at around 0.6. Price is below the #conversion line of the #Ichimoku though and we will need some volume. Plenty of movement left on the #RSI and the midline of the #bollinger and 20MA also supports this move. A break to the downside...
We see XRPUSD at the top of the downward channel again, I assume that with BTUSD being where it is some profit-taking may take us down again. Let's see however, there is still plenty room for movement on the RSI 4H just above the 50 now. Will all depend on whether we see a drop BTCUSD as that is in the overbought region. But hey stranger things have happened and...
Within the downward channel, we are now looking at a symmetrical triangle that could break either way. UP: Upcoming Spark drop may push us higher We are above the Ichimoku This will bring us up to the 0.5 retrace and around $0.625 and we will need some volume to surpass that. Down(more likely imo): Touched the top of the downward channel and reversed from that...