March 2019 saw a drop in the tx count on XRP, dropping to an ATL(all-time-low) to 50413.9132278 since Jan 30th 2014.
The TX count has picked up since that drop and is currently close to the ATH(all-time-high) number at 1036995.28808622.
With the news which might has brought about the recent bullish move in price(XRP-Backed Coin to Be Launched on Binance DEX, Along with Bigger Number of Native XRP-Based Pairs), price is at the edge to making a bigger move.
On the 4hours time frame, the price of XRPBTC has constantly maintained a bullish reversal chart pattern, indirectly indicating a bottomed price action.
This sticks to the rules of classical chart patterns. The diagonal resistance which moved down to the left shoulder down to the right shoulder, is an important level which price needs to breakout through from.
The diagonal resistance is considered to be the NECKLINE. Head-and-shoulders bottoms are reliable chart patterns that sport a low failure rate and good average rise.
The pattern confirms as a valid one when price closes above a down-sloping neckline.
The levels to look out for are as follows:
NOTE: the breakout price/level are most times the buy/sell entry price(depending the move of the chart analysed)
Breakout: 0.00003302sats
Resistance 1: 0.00003444sats
Resistance 2: 0.00003668sats
Resistance 3: 0.00003856sats
Resistance 4: 0.0000410sats
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
The TX count has picked up since that drop and is currently close to the ATH(all-time-high) number at 1036995.28808622.
With the news which might has brought about the recent bullish move in price(XRP-Backed Coin to Be Launched on Binance DEX, Along with Bigger Number of Native XRP-Based Pairs), price is at the edge to making a bigger move.
On the 4hours time frame, the price of XRPBTC has constantly maintained a bullish reversal chart pattern, indirectly indicating a bottomed price action.
This sticks to the rules of classical chart patterns. The diagonal resistance which moved down to the left shoulder down to the right shoulder, is an important level which price needs to breakout through from.
The diagonal resistance is considered to be the NECKLINE. Head-and-shoulders bottoms are reliable chart patterns that sport a low failure rate and good average rise.
The pattern confirms as a valid one when price closes above a down-sloping neckline.
The levels to look out for are as follows:
NOTE: the breakout price/level are most times the buy/sell entry price(depending the move of the chart analysed)
Breakout: 0.00003302sats
Resistance 1: 0.00003444sats
Resistance 2: 0.00003668sats
Resistance 3: 0.00003856sats
Resistance 4: 0.0000410sats
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.