“The Breakdown Suggests the Attempted Recovery from the April 7 Lows Has Likely Ended.”, – WRITE: www.coindesk.com
A rising Wedge Comprises Two Converging Trendlines that Connect Higher Lows and Higher Highs. This Convergence Suggests that Upward Momentum is Weakening. WHEN The PRICE MOVES BLOW The LOWER Trendline, It Signals A Shift to A Bearish Trend.
Xrp Dived Out of Itsing Wedge Pattern Dringing Wednesday’s Early Asian Hours, Suggesting That Attempted Recovery from The April 7 Lows Near Control.
Access to technical Analysis Theory, Analysts Should Identify the Starting Point of the Rising Wedge As The Initial Support Level Following The Breakdown, Which MEANS XRP CAN. The Cryptocurrency Has Also Fallen Belen the Ichimoku Cloud, A Momentum Indicator, On the Hourly Chart, Reinforcing the Bearish Outlook Indicated by the Rising Wedge Breakdown.
Xrp’s Hourly Chart. (TradingView/Coindesk)
Tuesday’s High of $ 2.18 is the Level for Bulls to Beat to Invalidate the Bearish Outlook.
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