As predicted on the July 18, the #Ripple got rejected at the key resistance trend line and made a series of new short-term lows that placed the coin at the lowest levels since December 2017. Meanwhile, the #Ripple is still trading below the trend line but it now approaches it for another test after recording a positive day or two. The coin found buyers at the 78.6% Fibonacci support line and it rebounded, breaking the habit of creating short term lows. It is approaching the key resistance again and it is quite simply - a decision time. Another failure will most likely prompt another low while the break of the trend line should facilitate a higher move to the upside, as many bears have their stops placed above the trend line. IF you are looking to go long, wait for a break and close above the trend line before entering a trade with a stop below the trend line on a closing basis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.