Ripple has bounced nicely from the trendline with an impressive
candle. The resistance above Kijun sen (white line) is the Cloud at 2.46.
Support from here is the previous low, trendline and pivot cluster around
1.50. The candle will likely attract many hopeful buyers who wants
to be early on the next Ripple train going north. A smaller pullback
from here will find support around 2.00 . Only a counter move and
close below the current big green candle, will remove the bias for a
larger bounce and reversal from here. Ultimately, a breaching of
the Cloud will reestablish the bullish trend, but the projected bearish
Cloud is thick which tend to give additional resistance and typically
some consolidation before a breakout above it.
******
If you want to support this channel check out the
profile page at the top for details. Thanks.
******
candle. The resistance above Kijun sen (white line) is the Cloud at 2.46.
Support from here is the previous low, trendline and pivot cluster around
1.50. The candle will likely attract many hopeful buyers who wants
to be early on the next Ripple train going north. A smaller pullback
from here will find support around 2.00 . Only a counter move and
close below the current big green candle, will remove the bias for a
larger bounce and reversal from here. Ultimately, a breaching of
the Cloud will reestablish the bullish trend, but the projected bearish
Cloud is thick which tend to give additional resistance and typically
some consolidation before a breakout above it.
******
If you want to support this channel check out the
profile page at the top for details. Thanks.
******