Remember ZEC? It made it’s first HL in a long time and moved 100% since. Remember VET? That made a slight HL in a while, broke a long downtrend and moved almost 200%.
Fun part, again everything is breaking out in January (just like ’16, ’17, ’18 and ’19 were the best quarters for alts in the first quarter of the year).
DASH broke a long term downtrend, ETC did, ZEC did and now Ethereum and Ripple are facing similar movements.
However, Ripple and Lumen don’t move in a natural way, they usually push hard before it goes.
From this, also given that the downtrend is broken on the USDT chart already and it looks to be January ’16 on this coin, I’m assuming that we’re going to break to the upside here with a fairly easy play.
Losing the green area around 2500 is a no-go and that would mean new lower lows.
However, breaking the downtrend after this compression and the targets are; 3750-3800, 4400-4450 & 6700-6800 for a move of around 170%.
Let’s see how this one unfolds.