Hi Traders! We have Ripple update and follow up of the buy opportunity. On the previous post here I mentioned that the price is on a corrective phase and once this correction completes itself we can go long. We also had a good downtrend line that has formed and we can go long once the price breaks above it. Lets see how this setup has developed now.
Ripple H1 Chart :
On the H1 chart a new downtrend line has formed. The price has created a false break with bullish divergence which we may consider as a confirmation of the bullish momentum. Also the price respected the good support zone and has managed to close above it. A break above 2.06 which will open the door for the bulls and we might see the price reaching the high at 3.2 again. Once we get a breakout above 2.06 we can start looking for buys.
Note: Until the last low at 1.56 is holding we are after buys.
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