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Cryptocurrencies Market Update ➡️ Solid ECN
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[QUOTE="SOLIDECN, post: 209261, member: 80239"] [JUSTIFY][img]https://i.ibb.co/FWt75vC/xrpusd-forum-2.png[/img] [B]XRPUSD, H4[/B] On the four-hour chart, there is a narrowing of the price in the side channel of 0.3572 – 0.4345, which indicates an imminent impulsive movement of quotes. The formation of a "bullish" candlestick analysis pattern Inverted Hammer above 0.3755 signals that the asset has reached a local low, while the Bullish Belt-Hold pattern emphasizes buyers' confidence. Most likely, the quotes of the token will head towards 0.4345, consolidation above, which will allow the XRPUSD pair to rise to the zone of 0.4751 – 0.5373. An alternative scenario will be relevant if the buyers fail to hold the key support level of 0.3572. [img]https://i.ibb.co/gWQqPgG/xrp-1.png[/img] [B]XRPUSD, D1[/B] On the daily chart, there is a formation of a Symmetrical Triangle price pattern, after which the price can go either upwards or downwards. Considering that the instrument is currently trading at the bottom at a strong support level, then most likely, the movement will be upwards, which is confirmed by the formation of a series of "bullish" Hammer patterns. In the current situation, the most likely scenario is the growth of the asset to the area of 0.4345 – 0.5373. [img]https://i.ibb.co/w6hQdzX/xrp-2.png[/img] Resistance levels: 0.4345, 0.4751, 0.5373 | Support levels: 0.3572, 0.3043, 0.2614[/JUSTIFY] [/QUOTE]
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