Hi there,
XRPUSDT looks bullish at the M30, having completed the support area range of 0.56-0558.
The momentum moved in a bullish sequence of 1 to 2, which indicates a minor retrace may occur to break the high of 0.5742.
The price is attempting to change the momentum of the AB wave. The force of this change is from the low (Y), which forms a bullish pressure at 0.56 relative to higher time frames. Therefore, 0.56 is a potential reversal area, and a break below 0.5449 will invalidate the setup.
The 0.5900 is a significant resistance area and therefore a potential first target area zone.
Overall, the market bias seems to shift towards a bullish direction for a price range of 0.6100.
Happy Trading,
K.
XRPUSDT looks bullish at the M30, having completed the support area range of 0.56-0558.
The momentum moved in a bullish sequence of 1 to 2, which indicates a minor retrace may occur to break the high of 0.5742.
The price is attempting to change the momentum of the AB wave. The force of this change is from the low (Y), which forms a bullish pressure at 0.56 relative to higher time frames. Therefore, 0.56 is a potential reversal area, and a break below 0.5449 will invalidate the setup.
The 0.5900 is a significant resistance area and therefore a potential first target area zone.
Overall, the market bias seems to shift towards a bullish direction for a price range of 0.6100.
Happy Trading,
K.
Trade closed: target reached:
