XRP potentially forming a Head & Shoulders pattern. Pattern is a top signal with a bearish outcome...Note
Volume corresponds with a H&S top with highest volume on the left shoulder, less volume on the head and the least volume on the right shoulder. Price has also lost the 30-Day HullMA (green line above price) but has yet to flip bearish (red) on the Weekly...
Note
For a projected price target you use the Measure Rule from the neckline to the top of the head which is a 73% move here corresponding to $1.50 in price difference...
Which would be a full retrace of the move up back down to $0.51 if it plays out
Note
Note
Full break of downtrend. Closed.
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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.