Ripple is consolidating now, but the coin is still bearish as it is still moving in the channel (blue lines). Ripple can change the trend to bullish only if it brakes the channel at 0,68 Eur and at least 3 other indicators are possitive (RSI, MACD, MFI, Trend continuation factor,..). For the confirming the uptrend Ripple has to cross 200 MA at 0,74 Eur.
I think that ripple will not cross the channel as the indicators (RSI, MACD, MFI, Trend continuation factor, CCI) are not possitive enough for the trend change. The support at 0,45 Eur will be tested soon and if broken, we will move further to 0,35 Eur and finally to 0,22 Eur till 14 days.
As all altcoins copy the trend of Bitcoin, we have to carefully watch this coin...it will set the trend for the whole market.
If we take into account recent negative information for the crypto, the end of Bearish trend is unlikely.
The goal is to be calm and do not let the emotions influence own trading decisions based on previous analysis.
This is only my trading idea. It is not a trading advice...I am not a professional trading advisor.
I think that ripple will not cross the channel as the indicators (RSI, MACD, MFI, Trend continuation factor, CCI) are not possitive enough for the trend change. The support at 0,45 Eur will be tested soon and if broken, we will move further to 0,35 Eur and finally to 0,22 Eur till 14 days.
As all altcoins copy the trend of Bitcoin, we have to carefully watch this coin...it will set the trend for the whole market.
If we take into account recent negative information for the crypto, the end of Bearish trend is unlikely.
The goal is to be calm and do not let the emotions influence own trading decisions based on previous analysis.
This is only my trading idea. It is not a trading advice...I am not a professional trading advisor.