As I anticipated this former trendline(in red) that once provided very strong support is currently providing significant resistance. Even though we have broken upward from the falling wedge and we still have a ways to climb to reach our breakout target we are currently being stalled sideways by this former trendline meanwhile the 1 day 200ma(in blue) is providing solid support. I think considering that the former trendline now acting as resistance is an ascending trendline that the 200ma should maintain support and we should have room to inch higher with ever new 1 day candle as we continue this sideways movement...we could potentially even stay below this red trendline and still reach our upward break target if we go sideways long enough with the 200ma breaking support. I have a feeling xrp will eventually find a way to break back above this trendline but it may take a few 1 day candles of consolidation first.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.