🔥 Hope everybody enjoyed labor day, you already know though, we're back at it again. Thanks for joining in with me today ladies and gentlemen.
🔥 Don't have too much time today, busy as usual so today's write up is gonna be pretty simple.
🔥 As TA stands right now we're doing alright, we have lost that 200 EMA no doubt but what matters is that we've managed to keep above that 0.50 blue dotted line, proves to show that we do have good support above 0.50 but once you fall below 0.50 it gets a bit tricky no doubt.
🔥 Below 0.50 and we risk falling much like we did on the 1st day of september in the chart but a couple big sell orders did also contribute to that so that is important to note, if we we're to fall again I would be looking to that 0.492 level and 0.486 below for support, below that it'll likely start a sell-off.
🔥 Did get close to 0.515 though after we've failed to establish any higher high's simply forming what slightly resembles a head and shoulders on the chart though that doesn't take into account the 0.50 support bounces we've been getting so we're still in that gray area I've been mentioning. Chances are again we'll just keep trending till some news makes or breaks us.
🔥 If we can manage to regain the 200 and pull up past 0.51 for a third time I will be looking to 0.5145 as well as the bottom of our consolidation channel above to identify whether or not we break that resistance there or get pushed back down.
🔥 Everything considered TA and news wise what matters is that XRP's keeping above 0.49 and 0.50 which has been the main goal. The longer we stay here and avoid falling further the better our chances of pulling up soon get but regardless like I've been saying it'll likely take a news catalyst for things to get triggered like that. We saw how Grayscale impacted the market before a lot of people took profits or sold out their positions pulling us back down to where we're at. So it'll likely take more news and better news to get us moving again but what matters for now is that we're keeping that support.
🔥 I've got to go but wanted to get something out real quick for today in the least, hope you guys are all doing well, and you already know you can leave a like or follow if you'd like, and if not, then just keep well and have a good one.
~ Rock '
🔥 Don't have too much time today, busy as usual so today's write up is gonna be pretty simple.
🔥 As TA stands right now we're doing alright, we have lost that 200 EMA no doubt but what matters is that we've managed to keep above that 0.50 blue dotted line, proves to show that we do have good support above 0.50 but once you fall below 0.50 it gets a bit tricky no doubt.
🔥 Below 0.50 and we risk falling much like we did on the 1st day of september in the chart but a couple big sell orders did also contribute to that so that is important to note, if we we're to fall again I would be looking to that 0.492 level and 0.486 below for support, below that it'll likely start a sell-off.
🔥 Did get close to 0.515 though after we've failed to establish any higher high's simply forming what slightly resembles a head and shoulders on the chart though that doesn't take into account the 0.50 support bounces we've been getting so we're still in that gray area I've been mentioning. Chances are again we'll just keep trending till some news makes or breaks us.
🔥 If we can manage to regain the 200 and pull up past 0.51 for a third time I will be looking to 0.5145 as well as the bottom of our consolidation channel above to identify whether or not we break that resistance there or get pushed back down.
🔥 Everything considered TA and news wise what matters is that XRP's keeping above 0.49 and 0.50 which has been the main goal. The longer we stay here and avoid falling further the better our chances of pulling up soon get but regardless like I've been saying it'll likely take a news catalyst for things to get triggered like that. We saw how Grayscale impacted the market before a lot of people took profits or sold out their positions pulling us back down to where we're at. So it'll likely take more news and better news to get us moving again but what matters for now is that we're keeping that support.
🔥 I've got to go but wanted to get something out real quick for today in the least, hope you guys are all doing well, and you already know you can leave a like or follow if you'd like, and if not, then just keep well and have a good one.
~ Rock '
