Ripple: Time for consolidation

270 0
Hello Traders,

After 3 days of bull run, it is time for some consolidation.
As you can see from the chart, 70 cents has been a major resistance at the moment, and Ripple failed to surpass this point twice in last month.
Both Stoch RSI and RSI are both in overbought region, so I expect sosme retracement from here.

My initial target is 65.7 cents (23.8 retracement), followed by 62.3 cents (38.2 retracement). I don't expect Ripple to go anything lower than 38.2% retracement level, as it will most likely find support at EMA200.
If we consider this first rally as first wave of elliot wave , then I expect 3rd wave to be an explosive one, and my target for wave 3 will be 97 cents or $1.08 depends on where wave 2 completes.

Happy Trading!
Trade closed: target reached: Can it go 59 cents!??
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out