Ripple #XRPUSD - internal correction and rally goes on?
Diupdate
TECHNICAL ANALYSIS:
The price of Ripple quoted to the Dollar set a new local high at 3.317, just below 100% Fibo at 3.414, followed by a downward 50% retracement of the previous upward impulse. Level 2.47 will therefore now act as support for bulls.
From the perspective of the Elliott Wave Theory, the current growth cycle may not have finished yet, as the alternative counter (in red) indicates the possibility of further impulsive increases rally.
TREND and IMPORTANT LEVLES:
Main trend: UP
Indirect trend: UP
Daily trend: UP (price in correction)
Key Levels:
for further increases - level 3.060 and later 3.317
consolidation/correction zone-levels from 2.27 to 3.06
for the continuation of falls - level 2.27 and later 1.62
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PPS: The next cryptocurrency analysis will be published if this post will receive min. 50 likes. :)
The price of Ripple quoted to the Dollar set a new local high at 3.317, just below 100% Fibo at 3.414, followed by a downward 50% retracement of the previous upward impulse. Level 2.47 will therefore now act as support for bulls.
From the perspective of the Elliott Wave Theory, the current growth cycle may not have finished yet, as the alternative counter (in red) indicates the possibility of further impulsive increases rally.
TREND and IMPORTANT LEVLES:
Main trend: UP
Indirect trend: UP
Daily trend: UP (price in correction)
Key Levels:
for further increases - level 3.060 and later 3.317
consolidation/correction zone-levels from 2.27 to 3.06
for the continuation of falls - level 2.27 and later 1.62
PS: Make sure you are following me!
PPS: The next cryptocurrency analysis will be published if this post will receive min. 50 likes. :)
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New levels are in play now as the correction is evolving. As long as the level of 2.16 is not violated, the outlook is more bullish than bearish.
Any violation of the level of 2.80 means the market will go to test the highs at 3.32.
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