๐ $XRP | Is the complex correction continuing?
Price: $1.3392
Weโre seeing a strong rebound from the low of 1.2840 to the high of 1.3534, followed by choppy, overlapping price action rather than a steady rise. This is consistent with the possibility of a complex W-X-Y correction forming, but confirming it requires monitoring the waves on higher timeframes.
๐น Key resistance: $1.3534.
๐น A break above it and holding there: could support a continued rebound.
๐น Nearby support: $1.3263.
๐น Next support: $1.3152, followed by the low at 1.2840.
What are the indicators saying?
* RSI(12) is around 50: neutral momentum.
* MACD is slightly negative: there is no confirmed strong bullish signal.
* Current trading volume is below both displayed volume averages, meaning the breakout has not yet received clear confirmation from volume.
๐ Bottom line: Iโm not anticipating the end of the correction. Iโm waiting either for the pattern to complete and a clear reversal signal to appear, or for a break above 1.3534 and a sustained hold above it to confirm the reboundโs strength.
#Xrp #BitcoinShortTermHoldersReach4.08MBTC #Xrp๐ฅ๐ฅ
Price: $1.3392
Weโre seeing a strong rebound from the low of 1.2840 to the high of 1.3534, followed by choppy, overlapping price action rather than a steady rise. This is consistent with the possibility of a complex W-X-Y correction forming, but confirming it requires monitoring the waves on higher timeframes.
๐น Key resistance: $1.3534.
๐น A break above it and holding there: could support a continued rebound.
๐น Nearby support: $1.3263.
๐น Next support: $1.3152, followed by the low at 1.2840.
What are the indicators saying?
* RSI(12) is around 50: neutral momentum.
* MACD is slightly negative: there is no confirmed strong bullish signal.
* Current trading volume is below both displayed volume averages, meaning the breakout has not yet received clear confirmation from volume.
๐ Bottom line: Iโm not anticipating the end of the correction. Iโm waiting either for the pattern to complete and a clear reversal signal to appear, or for a break above 1.3534 and a sustained hold above it to confirm the reboundโs strength.
#Xrp #BitcoinShortTermHoldersReach4.08MBTC #Xrp๐ฅ๐ฅ