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Sep 4, 2018 1:52 AM

XRPUSD approaching support, potential bounce! Long

XRP / DollarBitfinex

Description

XRPUSD is approaching our support at 0.3349 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, short term ascending support line) and a strong bounce might occur above this level pushing price up to our major resistance at 0.3499 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastics (89,5,3) is approaching support where a bounce above this level might see a corresponding rise in price.
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Comments
InvestingScope
Correct illustration of the short term Ascending Triangle. We have 0.4100 as the major Resistance and remain bearish overall:

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