Ripple in a Flag is about to see a new Higher High soon!
Hey! I am back with another Technical Analysis, this time looking at Ripple.
I was looking at Ripple for a while, since this coin has seen really tiny volume and very stable price movement, which indicates strong volume incoming.
It was the same situation which is Bitcoin currently in and sees very tiny volume.
I was really busy lately, so I didnt even had time to write a proper TA to Ripple, even trough I ve seen that Move was ahead.
At least I have posted to my Discord group this chart and it went as expected.
Looking at current situation.
Ripple has seen sharp 21% breakout, with good demand levels and strong macd uptrend. This train ended when Ripple has performed triple top at RSI line and consolidation phase of breakout has begin.
In the consolidation phase Ripple has a flag that is forming.
Good looking flag pole, sharp tests, good volume, great demand and clear trend.
Conclusion
A
Ripple will break downtrend ressistance and go for a higher high right now.
B
Ripple can fail to break this downtrend ressistance and retest 8025 for somehow less bullish macd test, show uptrend and perform new higher high.
C
Ripple can also fail to break this bullish macd test and retest 7865 with a long wick and see bounce of this level, hard to say now how strong.
Thats all from me, for now. If you agree with this Technical Analysis , consider leaving that "Agree Button" blue, as it leads me to post more similiar Technical Analysis .
Thanks for your time and good luck trading!
I was looking at Ripple for a while, since this coin has seen really tiny volume and very stable price movement, which indicates strong volume incoming.
It was the same situation which is Bitcoin currently in and sees very tiny volume.
I was really busy lately, so I didnt even had time to write a proper TA to Ripple, even trough I ve seen that Move was ahead.
At least I have posted to my Discord group this chart and it went as expected.
Looking at current situation.
Ripple has seen sharp 21% breakout, with good demand levels and strong macd uptrend. This train ended when Ripple has performed triple top at RSI line and consolidation phase of breakout has begin.
In the consolidation phase Ripple has a flag that is forming.
Good looking flag pole, sharp tests, good volume, great demand and clear trend.
Conclusion
A
Ripple will break downtrend ressistance and go for a higher high right now.
B
Ripple can fail to break this downtrend ressistance and retest 8025 for somehow less bullish macd test, show uptrend and perform new higher high.
C
Ripple can also fail to break this bullish macd test and retest 7865 with a long wick and see bounce of this level, hard to say now how strong.
Thats all from me, for now. If you agree with this Technical Analysis , consider leaving that "Agree Button" blue, as it leads me to post more similiar Technical Analysis .
Thanks for your time and good luck trading!
Comment:
Uptrend has been formed, last macd test was unsuccesful, but histogram seen only one stick higher than previous and formed uptrend almost immediately and is about to go for another MACD test. RSI still uptrending.
Comment:
Looking at 30 min chart after looking at hourly so I we can get some into deeper into hourly. Uptrend channel, rsi found ressistance, bullish macd "slides" 8250 current ressistance, 8060 support, seems like an ascending triangle is being formed.
Comment:
Ripple is struggling to break upper ressistance level with unsuccesful macd tests as Bitcoin acts Bearish. Indicators suggests another test of ressitance level in this overextended flag.
