Pattern Identified: Symmetrical Triangle
The symmetrical triangle is a consolidation pattern formed by a series of lower highs and higher lows, converging into a triangle shape. It reflects market indecision and often precedes a significant breakout, either upward or downward, depending on momentum and volume.
🔍 Pattern Description:
Upper Resistance Line (Descending): Connecting the lower highs since February 2025.
Lower Support Line (Ascending): Connecting the higher lows since December 2024.
Consolidation Zone: Price has been moving sideways within the triangle, indicating accumulation.
Critical Breakout Level: Around $2.23 — the price is currently testing this resistance.
📈 Bullish Scenario:
If the price successfully breaks above the upper triangle resistance with strong volume:
Target 1: $2.5855 (previous minor resistance)
Target 2: $2.9534 (key historical resistance)
Target 3: $3.2781
Maximum Target: $3.40 (local previous high and psychological level)
Breakout Confirmation: A daily candle close above $2.30 with significant volume could signal a long entry.
📉 Bearish Scenario:
If the price fails to break out and instead breaks down below the lower trendline:
Support 1: $2.00 (psychological & horizontal support)
Support 2: $1.85
Major Support: $1.55 (strong historical demand zone)
Breakdown Confirmation: A daily close below the lower triangle boundary with high volume would signal further downside.
📌 Summary:
XRP is nearing the apex of a symmetrical triangle — a major move is imminent.
A confirmed breakout could trigger a rally towards $3.40.
A breakdown may lead to a drop toward $1.55.
Recommendation: Wait for confirmation before entering long or short positions.
#XRP #XRPUSDT #CryptoBreakout #SymmetricalTriangle #XRPAnalysis #Altcoins #TradingView #TechnicalAnalysis #BullishCrypto #CryptoSignal
The symmetrical triangle is a consolidation pattern formed by a series of lower highs and higher lows, converging into a triangle shape. It reflects market indecision and often precedes a significant breakout, either upward or downward, depending on momentum and volume.
🔍 Pattern Description:
Upper Resistance Line (Descending): Connecting the lower highs since February 2025.
Lower Support Line (Ascending): Connecting the higher lows since December 2024.
Consolidation Zone: Price has been moving sideways within the triangle, indicating accumulation.
Critical Breakout Level: Around $2.23 — the price is currently testing this resistance.
📈 Bullish Scenario:
If the price successfully breaks above the upper triangle resistance with strong volume:
Target 1: $2.5855 (previous minor resistance)
Target 2: $2.9534 (key historical resistance)
Target 3: $3.2781
Maximum Target: $3.40 (local previous high and psychological level)
Breakout Confirmation: A daily candle close above $2.30 with significant volume could signal a long entry.
📉 Bearish Scenario:
If the price fails to break out and instead breaks down below the lower trendline:
Support 1: $2.00 (psychological & horizontal support)
Support 2: $1.85
Major Support: $1.55 (strong historical demand zone)
Breakdown Confirmation: A daily close below the lower triangle boundary with high volume would signal further downside.
📌 Summary:
XRP is nearing the apex of a symmetrical triangle — a major move is imminent.
A confirmed breakout could trigger a rally towards $3.40.
A breakdown may lead to a drop toward $1.55.
Recommendation: Wait for confirmation before entering long or short positions.
#XRP #XRPUSDT #CryptoBreakout #SymmetricalTriangle #XRPAnalysis #Altcoins #TradingView #TechnicalAnalysis #BullishCrypto #CryptoSignal
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✅ Twitter: twitter.com/crypto_nuclear
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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.