Salve
Once an altcoin starts to move, any "strong" jump brings out flashes of the multiple years-long bear market... "Is this the top...?"
"Will prices start dropping now?"
Zooming out and looking at the bigger picture can surely help us with answering these questions.
Here we are looking at XRPBTC on the weekly timeframe , which we also call the 'long-term' chart.
Notice that prices just moved above EMA50 for the first time since 2019.
Once we see weekly above EMA50, it means that this is only getting started and there is room for more green.
On the chart above, you can see the fib. levels and over 280% of potential growth... This is only based on the Sept. 2018 high, there can be more.
Remember, just as prices can hit new All-Time Low when they drop, they can also hit new All-Time Highs when they move up.
Ciao
Once an altcoin starts to move, any "strong" jump brings out flashes of the multiple years-long bear market... "Is this the top...?"
"Will prices start dropping now?"
Zooming out and looking at the bigger picture can surely help us with answering these questions.
Here we are looking at XRPBTC on the weekly timeframe , which we also call the 'long-term' chart.
Notice that prices just moved above EMA50 for the first time since 2019.
Once we see weekly above EMA50, it means that this is only getting started and there is room for more green.
On the chart above, you can see the fib. levels and over 280% of potential growth... This is only based on the Sept. 2018 high, there can be more.
Remember, just as prices can hit new All-Time Low when they drop, they can also hit new All-Time Highs when they move up.
Ciao