๐ $XRP โ Entering an Extreme Bouncing Zone
The bounce from the broken trendline failed, and price resumed the decline from the July peak.
The downside move from the peak remains within a 3-swing structure and has currently reached the equal-legs area of 1.034 โ 1.003.
It's now retesting the June lows, and an initial bounce higher could happen from there.
However, the main daily trend remains bearish, so a break below the June low will confirm downside continuation.
#Crypto #Trading #ElliottWave
The bounce from the broken trendline failed, and price resumed the decline from the July peak.
The downside move from the peak remains within a 3-swing structure and has currently reached the equal-legs area of 1.034 โ 1.003.
It's now retesting the June lows, and an initial bounce higher could happen from there.
However, the main daily trend remains bearish, so a break below the June low will confirm downside continuation.
#Crypto #Trading #ElliottWave