Ripple is currently testing the lower bullish trendline that forms the Bearish Pennant and Ascending Triangle. Yes you read that right, opposing formations.
LOI is also pushing a new low since the beginning of the month. All indications point to a break of this trend-line to test 0.64 again.
Regarding LOI - While the LOI was a little lower than where it is right now at the start of the month, the price was actually considerably higher. This discrepancy isnt something I can explain right now, law of supply and demand complication of some sort, but I thought it was worth pointing out.
LOI is also pushing a new low since the beginning of the month. All indications point to a break of this trend-line to test 0.64 again.
Regarding LOI - While the LOI was a little lower than where it is right now at the start of the month, the price was actually considerably higher. This discrepancy isnt something I can explain right now, law of supply and demand complication of some sort, but I thought it was worth pointing out.
Comment:
Price has so far held above that trend-line, gently touching it then pulling back... while this initially looks good i still see no indication of an actual upward move from this point.
