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Ripple H4(4 Hours) Chart Analysis – Heikin Ashi Candles, Higher Highs, ADX Indicator, Two Strong Support Zones
On the H4 chart, we have a bullish rally and currently, it looks like this bullish rally is about to continue. Based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward-moving market conditions so it basically reflects a bullish environment. In addition to this, we could see that the price which was moving higher has created higher highs based on the MACD indicator, which is a sign of gaining momentum towards the bullish side. Also, the ADX indicator gave a bullish signal here at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads a value over 25, we may consider this as another evidence of bullish pressure. In addition to this, currently, there are no signs opposing this bullish view. Also, we had two strong resistance zones and the price which was moving higher has broken above these zones and is holding above them. After the breakout, these strong resistance zones are acting as strong support zones for us. So based on all this, until these two strong support zones shown in the image below(marked in green) holds my short-term view remains bullish here and I expect the price to move higher further after pullbacks.
It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this short-term buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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