$XRP gaining bullish potential
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Key levels
Short term
Supports—> S1: 0.378 & S2: 0.34
Resistances—> R1: 0.48 & R2: 0.49
Medium/Long term
Supports—> S3: 0.28 & S4: 0.20
Resistances—> R3: 0.55 & R4: 0.62
Potential scenario
XRP marked its post bull run lowest point in August 2018, since then it has been making minimums (pivots) continuously higher than the previous one. This is a clear sign of markets trending up, which accompanied by the bull run that the most capitalised coins have had during the last 2 months, reinforce the possibility of having an extended upward trending market.
TA comment
We have been following this pair with an indicator that was highly requested by our users. The DMI measures the strength of positive and negative trends, then generating crossovers with the +DI (blue) and -DI (orange) line. As we can see in the chart, the DMI opened positions when the bullish potential of the price was gaining strength after bouncing on the support S1.
Pattern
During the time span displayed in the chart, the system has spotted the pattern called Three Advancing White Soldiers in two occasions bouncing on the support S1. This is is a bullish reversal pattern represented by three candles. After a downward trend, every candle has a long body and an upward direction.
Key levels
Short term
Supports—> S1: 0.378 & S2: 0.34
Resistances—> R1: 0.48 & R2: 0.49
Medium/Long term
Supports—> S3: 0.28 & S4: 0.20
Resistances—> R3: 0.55 & R4: 0.62
Potential scenario
XRP marked its post bull run lowest point in August 2018, since then it has been making minimums (pivots) continuously higher than the previous one. This is a clear sign of markets trending up, which accompanied by the bull run that the most capitalised coins have had during the last 2 months, reinforce the possibility of having an extended upward trending market.
TA comment
We have been following this pair with an indicator that was highly requested by our users. The DMI measures the strength of positive and negative trends, then generating crossovers with the +DI (blue) and -DI (orange) line. As we can see in the chart, the DMI opened positions when the bullish potential of the price was gaining strength after bouncing on the support S1.
Pattern
During the time span displayed in the chart, the system has spotted the pattern called Three Advancing White Soldiers in two occasions bouncing on the support S1. This is is a bullish reversal pattern represented by three candles. After a downward trend, every candle has a long body and an upward direction.
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