Ripple has grown in line with the latest crypto rally but today things look a little bit different. The most popular centralized digital currency has been dropping ever since the start of the trading day and has lost almost 15%.
The plunge started during Asian trading hours and the current daily low is $0.78. Several indicators fired off “sell” signals and we’ve picked one of them for a more detailed look – the MACD.
But the main thing that is happening on the chart of Ripple right now is the pattern that is unfolding before our eyes – a bearish engulfing candle will be formed if today’s closing price is below yesterday’s opening price.
We created a guide to this pattern not long ago, here’s a link to it for a more detailed look: https://youtu.be/AKOfdPMQJe8
We also identify the support and resistance levels on the daily and hourly charts to find out where there could be potential turnarounds and/or milestones for the week ahead.
Related Post:
- Bitcoin Forming Another Bearish Engulfing Candle. Episode 225 – Cryptocurrency Technical Analysis
- Bitcoin Bearish Engulfing Candle. Episode 226 – Cryptocurrency Technical Analysis
- Bitcoin, Ethereum, Litecoin, XRP : Bearish Engulfing Candle?! Crypto Technical Analysis
- ? Bitcoin MONTHLY CANDLE CLOSE STREAM! BULLISH ENGULFING ? Ep. 847 – Crypto Technical Analysis
- Bearish Engulfing – Learn cryptocurrency – technical analysis course
- STARS ARE ALIGNING FOR CARDANO!!!! THIS CANDLE MIGHT BE THE MOST IMPORTANT CANDLE IN THE HISTORY!!!
- Ripple Intraday Analysis May 7, 2018: Bearish Pennant Forming
- NewsBTC Ripple Analysis March 28, 2018: Bearish Flag Forming
- Golem is forming bearish Shark and entered in potential reversal zone | GNT price prediction
- XRP Forming A Double Bearish Divergence ? | XRP Price Prediction (10 Feb 2023)
