XRPשורט
XRP Break of the 3/18 Low?
Hey traders watch out! Hopefully you guys are ready for some more selling!
XRPUSD not only broke through the bottom of my downtrend channel (in black), but it also broke through my support zone (in blue).
The 20 EMA now rests right above my support zone (in blue) giving that level and even stronger resistance if we decide to turn things around.
If we break down here past the low of 3/18 we could eventually see at .42 cent XRP, which would be great!
The MACD is beginning to cross, and the Stoch RSI is absolutely overbought and is beginning to cross as well. All these signals along with BTC dropping like a stone out of the bear flag it has been in and high sell volume, this is a shear sign that we are heading to make lower prices here very very soon. However, BTC has not confirmed the bottom of the bear flag as new resistance, so I would watch very closely to see what happens next here in the coming hours, especially with BTC and the current bear flag that we just broke out of to the downside.
~Mainstay
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
XRPUSD not only broke through the bottom of my downtrend channel (in black), but it also broke through my support zone (in blue).
The 20 EMA now rests right above my support zone (in blue) giving that level and even stronger resistance if we decide to turn things around.
If we break down here past the low of 3/18 we could eventually see at .42 cent XRP, which would be great!
The MACD is beginning to cross, and the Stoch RSI is absolutely overbought and is beginning to cross as well. All these signals along with BTC dropping like a stone out of the bear flag it has been in and high sell volume, this is a shear sign that we are heading to make lower prices here very very soon. However, BTC has not confirmed the bottom of the bear flag as new resistance, so I would watch very closely to see what happens next here in the coming hours, especially with BTC and the current bear flag that we just broke out of to the downside.
~Mainstay
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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