EMA 20/50 cross and critical daily close level. Prepare for more bearish behavior if the cross happens and support breaks. First support would be lower D1 but don't be surprised if it goes down to W1. Support after that would be swing low of first impulse up of the previous month A.K.A around the 0.6$ level.
If we do bounce, first target would be around upper D1...
Same set-up as my XRPBTC comparison of a few days ago. Probably the same outcome as this resistance is much greater than the one before.
If break on the downside, yellow trendline is the next resistance. After that the next big resistance is around 1$
If break on the upside, we could see the beginning of a new cycle to around 4.2-4.4$
XRP is touching the still intact log trendline. It's adjusted a small amount due to recent price action but still touching on previous up-swings.
If this holds and it continues to go up, we could see 4.2$ if the market wills it.
LTC looking good. Previous target hit. Next target is up on the chart. Forming a flag now which should make this next up-swing leg 3 out of 5. I would wait for a clear breakout to the top-side if you want to get in. This would confirm continuous up-swing movement.
Seems like we have a breakout of the "long"term downtrend. Broke out of the bounce retest of the trend-line as well. First small target and bigger medium term target on chart. Please draw some lines and confirm for yourself as well! Happy training and may the gains be with you.
My target box was only missed by a couple of cents. We all knew this was coming. Price action still well inside the log channel. Retrace can go down to 2.4$ action (previous ATH). It didn't dump as hard as some people would've thought/liked. Check the correction on the previous high for a comparison.
Keep an eye on the price when it gets to the channel lines. If...
The log chart shows me that we've still got momentum upwards. RSI has given us space again. Boillinger bands squeeze and not much of a retrace on this step. Short term trendlines have not been broken. I think we have a clear line to 3.37$.
I am using the logarithmic scale here as the lines between peaks and bottoms looks much crisper. A channel if you zoom out....
Has issues breaking through all-time high. Sell walls prevent us from crossing over. Flag pattern suggests that we'll see another push past this point, next target would be around 3.3$. If it fails, we might see a retrace to previous lows.
Adjusted the trend-line from ATH to current situation. Possible target adjusted a bit due to length of previous leg up. Might see a small retrace at that point or a retest of lower blue trend-line. After that we might see a challenge to the ATH and beyond.
Purple lines are the log channel. Still healthily inside the log channel as you can see.
Break-out confirmed. First two stops are on the chart. Good indication for huge upswing potential if price action hits these. Volume is picking back up after the holidays. Set your stop and enjoy the ride!
ABC was finished earlier than anticipated. Broke out of the downwards channel and is in a falling wedge now. If break on the upside, could test next fibonacci level and possibly even all-time high. If break on the downside, could retest yellow trendline from previous medium-term channel. Trade what you see. Happy new year!