After 29 days of a bearish trend and a drop of 36%, the price is finally going through a better period and is about to register the 3rd consecutive day of growth.
Another important detail is given by the crossover of the 20 days Moving Average meaning that, according to the Bollinger Bands, we are assisting to a trend change which can also be confirmed if the price will finish the day higher than 0.3367$.
As we've mentioned on the previous posts, this first candlestick which is fully created after the price has crossed the 20 days Moving Average, can be considered as a very powerful confirmation of the trend. And the easiest way to check it is to follow the chart and to identify the previous similar situations :
- On the 5th of November, after the price has "jumped" above the 20 MA, the green candlestick has confirmed the increase which followed;
- On the 20th of November, after the price went below the same MA, the red candlestick has confirmed the decrease.
Having a look to the technical indicators as well, we can easily identify favorable circumstances for this scenario, as it follows :
* The RSI is 48 and it can be considered "neutral". It has managed to recover from the "oversold" position and it has potential go go even higher;
* The Stochastic`s crossover from the 16th of December has signaled the uptrend and the distance between the "fast" and the "slow" lines is still big enough. On top of this, there is still more room for the price to increase before the level of 80 will be reached;
* The MACD also above the Signal since 2 days ago, meaning that the uptrend has big chances to continue.
With the actual trading volumes, it seems that the odds are favorable for the price of Ripple and we have big chances to see the price reaching 0.36$ in the following days.
Another important detail is given by the crossover of the 20 days Moving Average meaning that, according to the Bollinger Bands, we are assisting to a trend change which can also be confirmed if the price will finish the day higher than 0.3367$.
As we've mentioned on the previous posts, this first candlestick which is fully created after the price has crossed the 20 days Moving Average, can be considered as a very powerful confirmation of the trend. And the easiest way to check it is to follow the chart and to identify the previous similar situations :
- On the 5th of November, after the price has "jumped" above the 20 MA, the green candlestick has confirmed the increase which followed;
- On the 20th of November, after the price went below the same MA, the red candlestick has confirmed the decrease.
Having a look to the technical indicators as well, we can easily identify favorable circumstances for this scenario, as it follows :
* The RSI is 48 and it can be considered "neutral". It has managed to recover from the "oversold" position and it has potential go go even higher;
* The Stochastic`s crossover from the 16th of December has signaled the uptrend and the distance between the "fast" and the "slow" lines is still big enough. On top of this, there is still more room for the price to increase before the level of 80 will be reached;
* The MACD also above the Signal since 2 days ago, meaning that the uptrend has big chances to continue.
With the actual trading volumes, it seems that the odds are favorable for the price of Ripple and we have big chances to see the price reaching 0.36$ in the following days.
Trade closed: target reached:
the trade was closed
