The price has been moving downwards within this channel, indicating a bearish market sentiment. Currently, the price is testing the 0.618 Fibonacci Level, which is a significant support level for traders and investors.
In terms of potential price movements, there are two key levels to watch for a breakout. The first level to watch is the breakout above the 0.3848 resistance level. If the price can break above this level, it could signal a reversal in the current downtrend and a potential bullish movement.
On the other hand, if the price breaks below the 0.3536 support level, it could indicate further bearish movements and a potential continuation of the current downtrend. Traders should be cautious and closely monitor these levels to determine the direction of the market.
It is also important to note that there is a significant liquidity area on the weekly support at the 0.30$ area. This means that if the price falls to this level, there may be a high demand for XRPUSDT, which could potentially lead to a price rebound. Overall, traders and investors should closely monitor the price movements of XRPUSDT, especially at the key support and resistance levels mentioned above, to make informed trading decisions.
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Follow the Shrimp 🦐
Keep in mind.
In terms of potential price movements, there are two key levels to watch for a breakout. The first level to watch is the breakout above the 0.3848 resistance level. If the price can break above this level, it could signal a reversal in the current downtrend and a potential bullish movement.
On the other hand, if the price breaks below the 0.3536 support level, it could indicate further bearish movements and a potential continuation of the current downtrend. Traders should be cautious and closely monitor these levels to determine the direction of the market.
It is also important to note that there is a significant liquidity area on the weekly support at the 0.30$ area. This means that if the price falls to this level, there may be a high demand for XRPUSDT, which could potentially lead to a price rebound. Overall, traders and investors should closely monitor the price movements of XRPUSDT, especially at the key support and resistance levels mentioned above, to make informed trading decisions.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
Comment:
a daily close above the structure could be a nice confirmation
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Kaboom
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Killed
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