As You know from our older post then there was a red box which confirms bearishness if we got a candle close below that. We got a candle close below that area and after the market drop, we came down pretty heavily.
Currently, the price has stopped on the counter trendline which is pulled from the peak. This is not much a confirmation because of this trendline is too sharp but still. We have made a new lower low and approaching to the round number $0.4.
As we've mentioned earlier, then this $0.4 area is a pretty significant level: the round number itself has to work as a support and from the peak Ripple has dropped around 50 percent. This 50 percent is usually a good bounce level but currently, we can't say that we get a bounce from there because probably BTC' has ahead another leg down and this move may drop XRP' pretty heavily because recently, Ripple' has made highest gains and now it could make the highest drop but watch it closely and watch Bitcoin closely if it shows moves upwards from supports then XRP' has a good bounce area at $0.4.
If the $0.4 level breaks then the next support would be the major down-trendline since 17.02.2018, depends on the downwards move sharpness, at $0.35.
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Currently, the price has stopped on the counter trendline which is pulled from the peak. This is not much a confirmation because of this trendline is too sharp but still. We have made a new lower low and approaching to the round number $0.4.
As we've mentioned earlier, then this $0.4 area is a pretty significant level: the round number itself has to work as a support and from the peak Ripple has dropped around 50 percent. This 50 percent is usually a good bounce level but currently, we can't say that we get a bounce from there because probably BTC' has ahead another leg down and this move may drop XRP' pretty heavily because recently, Ripple' has made highest gains and now it could make the highest drop but watch it closely and watch Bitcoin closely if it shows moves upwards from supports then XRP' has a good bounce area at $0.4.
If the $0.4 level breaks then the next support would be the major down-trendline since 17.02.2018, depends on the downwards move sharpness, at $0.35.
If You are interested in the latest cryptocurrency news, coin reviews and breaking stories from the world of blockchain then visit our website! (The LINK is on the profile)
Hopefully, this analysis helped You out a little bit to confirm your own analysis and if You appreciate what we do here then hit the LIKE button!
Best regards!
Comentário:
The mentioned bounce has happened from $0.4!
