downtrend: 12 months of downtrend since 2022 has now been put on hold for range bound price actions
inside the range: many times the price respected the lower and upper boundary of the 18 EMA channel + ultimately the price decided to test resistance at 45 cents and then support at 25 cents.
break outs: a move above 45 cents would be bullish - a move below 25...
bulls and bears both agree that cardano is too cheap at 23 cents
bulls and bears are currently negotiating on whether or not cardano should be price higher, or lower than 40 cents
bulls and bears are also trying to decide if cardano should still be declining in value
cigar comment: no bias, just the facts
55 cents has been the upper boundary of support and resistance since 2018
55 cents has been tested frequently in the last 5 months
55 cent resistance is now broken
opinion: not likely to return to 55 cents
caveat: maybe will re visit for a re-test of support
opinikon: still I think it is not likely
conclusion: bull market for xrp
using the 18 week high/low channel (green/red)
bullish confirmation is given when price bounces back above the red/low/bottom of the channel
bearish confirmation is given when price bounces back below the green/high/top of the channel
until a bearish sign appears xrp is in a bull market
also: .55 is long term weekly resistance and support
looks like the price wil come back to test .78 or .76
possible triangle wave in progress
A triangle wave pattern in stock trading is a chart pattern that represents a temporary pause or consolidation in the prevailing trend. It is formed by drawing trendlines along a converging price range, creating a triangular shape. There are three types of triangles:...
a know fib extension for wave 5 is the 1.618
that is a serious price extension
whether or not this plays out remains to be seen
5 waves within each leg of the supertrend
not financial advice
this seems unlikely, but then so did $3.00 from half a cent!
the markets work in such a way that it will dissappoint the most amount of people most of the time.
that being said is this market setting up to shake out the most hands before staging a rally of disbelief?
of course the current rally, given the news, is an absolute rally of "OF COURSE THIS IS HAPPENING"!
my gut tells me the rug is going to be pulled...
long term view is interesting to see how bitcoin is touching points on the fib extensions
would also be interesting to see long term how the regressive fib channel plays into this
no predictions here, just a lens to look through
using 18 month high and low averages a channel in black shows the relative strength of price around periods when the averages get squeezed together
MACD histogram and signal line is currently showing similar to historic price increases