⭐ Good afternoon, hope everyone's doing well this week, especially with this good weather we've got today and a good play in our charts with XRP and much of the market having reversed as I was speaking on in the previous idea. I'll link that below if anyone want's to check it out for reference, can simply click on it and read through some of the notes and the train of thought we had going on heading into this:
⭐
⭐ As of writing this we sit at $1.178 looking now to test $1.18. I added an ascending wedge following our breakout from the descending channel on the 6th with those 20, 50 EMA's also converging which led to our break up and above local resistance of $1.10.
⭐ The 200 EMA sit's at $1.15 as of writing. It's now become a bullish catalyst helping us break through some of these local resistance levels and helping secure this Reversal I was calling out in the previous idea.
⭐ While I'm happy to see things played out as we we're considering we're still not in the clear. Main challenge now will be keeping above $1.15 and that 200 EMA.
⭐ Trading volume itself also speaks to demonstrate strong buying power after our convergence with the 200 EMA signaling bullish optimism though some heavy sell orders show some whales are still intent on dragging things.
⭐ I would set a price alert for $1.15 and keep an eye on that 200 EMA as that'll be our main hurdle currently as we'll have to fight to keep above that. Especially after this wave up.
⭐ Have to run but want to highlight we are also in an ascending channel currently if you mark some horizontal ascending lines you'll be able to see the channel that's formed since the breakout from our descending channel. Important to keep that channel in mind since we'll likely see some retracement once we exit the channel and we'll have to find the next support ourselves without technical support.
⭐ Thanks so much for joining me as always, appreciate you guys so much, grateful to have such a large community behind me, you guys support me and help make me who I am. Thank you and may this find you well. All the best till our next take!
Best regards,
~ Rock '
⭐
⭐ As of writing this we sit at $1.178 looking now to test $1.18. I added an ascending wedge following our breakout from the descending channel on the 6th with those 20, 50 EMA's also converging which led to our break up and above local resistance of $1.10.
⭐ The 200 EMA sit's at $1.15 as of writing. It's now become a bullish catalyst helping us break through some of these local resistance levels and helping secure this Reversal I was calling out in the previous idea.
⭐ While I'm happy to see things played out as we we're considering we're still not in the clear. Main challenge now will be keeping above $1.15 and that 200 EMA.
⭐ Trading volume itself also speaks to demonstrate strong buying power after our convergence with the 200 EMA signaling bullish optimism though some heavy sell orders show some whales are still intent on dragging things.
⭐ I would set a price alert for $1.15 and keep an eye on that 200 EMA as that'll be our main hurdle currently as we'll have to fight to keep above that. Especially after this wave up.
⭐ Have to run but want to highlight we are also in an ascending channel currently if you mark some horizontal ascending lines you'll be able to see the channel that's formed since the breakout from our descending channel. Important to keep that channel in mind since we'll likely see some retracement once we exit the channel and we'll have to find the next support ourselves without technical support.
⭐ Thanks so much for joining me as always, appreciate you guys so much, grateful to have such a large community behind me, you guys support me and help make me who I am. Thank you and may this find you well. All the best till our next take!
Best regards,
~ Rock '
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.