Let's talk about $XRP and market structure 👀
I have been learning about long-term channels lately, and XRP is a very good example to understand it.
In a long-term ascending channel, the price moves between two lines - one on top and one at the bottom. As long as the price stays inside, the structure is considered valid.
What I noticed in XRP is that even after a big correction, it is still trading inside that same long-term channel and holding above its 2-week moving average.
For me, the interesting part is not the price, but the structure. It has not broken the lower line of the channel yet.
This is why I am watching how it reacts around the support area. If the structure holds, it will be interesting to see. If it breaks, then the whole structure changes.
I am still learning, so I wanted to ask you all:
Do you think long-term channels are still useful in this market, or do you prefer to trade only short-term levels?
Share your thoughts, I want to learn from you.
This is just for learning and discussion, not financial advice. DYOR.
#XRP #Ripple #Crypto #BinanceSquare #LearnCrypto
I have been learning about long-term channels lately, and XRP is a very good example to understand it.
In a long-term ascending channel, the price moves between two lines - one on top and one at the bottom. As long as the price stays inside, the structure is considered valid.
What I noticed in XRP is that even after a big correction, it is still trading inside that same long-term channel and holding above its 2-week moving average.
For me, the interesting part is not the price, but the structure. It has not broken the lower line of the channel yet.
This is why I am watching how it reacts around the support area. If the structure holds, it will be interesting to see. If it breaks, then the whole structure changes.
I am still learning, so I wanted to ask you all:
Do you think long-term channels are still useful in this market, or do you prefer to trade only short-term levels?
Share your thoughts, I want to learn from you.
This is just for learning and discussion, not financial advice. DYOR.
#XRP #Ripple #Crypto #BinanceSquare #LearnCrypto
