Ripple ( ) is having a strong bounce after hitting just below our “demand zone”, you can read about it in our previous Ripple analysis here:
I mentioned that Ripple tends to become weak when is and vice versa, so we closed our Ripple trades and looked for this “demand zone” to buy back in.
Now we see that completed a wave and is starting to retrace, as becomes weaker, Ripple can become stronger, we are seeing this scenario play out nicely, which gives further strength to the signals we are now getting from the chart.
- The had a strong bounce after hitting oversold.
- High green bar (daily candle needs to close above 0.0000710 or EMA10 for a strong close).
- formation are showing signals of a low.
Note: Remember to use a stop-loss if you open a trade for Ripple based on these signals as things can change any minute. So even though some signals are really good, valid and strong, they can still become invalidated as time goes on.
We also have a long term analysis for Ripple vs Tether ( ), this can be read below:
This is just a quick analysis and reminder for Ripple fans and traders, this is not a piece of trade advice.
Thanks a lot for reading, remember to hit like now…
This is Alan Masters.
Namaste.
Published at Fri, 05 Apr 2019 12:30:43 +0000