After 2 days in which the trading volumes have increased, the price of Ripple has manage to stabilize above the 20 days Moving Average and new bullish trend on a 1D Chart has started.
A similar price evolution like the one from today has been registered 2 times in the last 3 weeks but in both cases, the price lost it's ground afterwards, as it follows :
* On the 30th of January, the price of Ripple has "jumped" with almost 12% but in the next 7 days, it has lost all of it's gained ground based on the decreased trading volumes.
* The same thing happened on the 8th of February, when we could see an increase of almost 8% but this time the losses which were registered after were smaller than before (only 3.83%).
In both cases, the growth has been signaled by the Stochastic with it's "fast" line going above the "slow" one and with the MACD setting it's position at the top of the Signal.
From the technical perspective, this time is different :
* The RSI had a neutral position, meaning that the actual "impulse" shouldn't be aggressive
* The Stochastic has registered a crossover on the 14th of February but it also gave us "false" signals before
* The MACD's position above the Signal has been registered since the 8th but in the meantime, the price had an inconsistent evolution.
In this scenario, the most reliable indicator in deciding the price evolution is represented by the trading volumes. And from here, we have 2 possible scenarios :
1. If these one will stay at least constant, there are chances to see the price of Ripple trying to break the Resistance level of 0.3253.
2. On the other hand, if the volumes will drop after the impulse like in the previous 2 cases, it is possible to see the price going back towards the level of 0.3089$ which is also it's average value for the last week.
A similar price evolution like the one from today has been registered 2 times in the last 3 weeks but in both cases, the price lost it's ground afterwards, as it follows :
* On the 30th of January, the price of Ripple has "jumped" with almost 12% but in the next 7 days, it has lost all of it's gained ground based on the decreased trading volumes.
* The same thing happened on the 8th of February, when we could see an increase of almost 8% but this time the losses which were registered after were smaller than before (only 3.83%).
In both cases, the growth has been signaled by the Stochastic with it's "fast" line going above the "slow" one and with the MACD setting it's position at the top of the Signal.
From the technical perspective, this time is different :
* The RSI had a neutral position, meaning that the actual "impulse" shouldn't be aggressive
* The Stochastic has registered a crossover on the 14th of February but it also gave us "false" signals before
* The MACD's position above the Signal has been registered since the 8th but in the meantime, the price had an inconsistent evolution.
In this scenario, the most reliable indicator in deciding the price evolution is represented by the trading volumes. And from here, we have 2 possible scenarios :
1. If these one will stay at least constant, there are chances to see the price of Ripple trying to break the Resistance level of 0.3253.
2. On the other hand, if the volumes will drop after the impulse like in the previous 2 cases, it is possible to see the price going back towards the level of 0.3089$ which is also it's average value for the last week.
Trade closed: target reached:
the target of 0.3253$ has been reached. Trade closed!
