#XRP ascending triangle?

19. Nov. 2024

📊#XRP ascending triangle?

🧠From a structural perspective, we are currently in a complex consolidation phase between the stage resistance zone and the neckline support zone. Only if we successfully break through the inflection point can we build a long structure to continue the upward trend.

➡️From a graphical perspective, there is a chance to form an ascending triangle here. Breaking through the inflection point will be seen as an upward breakthrough, and the probability of continued rise will increase. If it falls below the long defense point, a short structure will appear, and there will be a possibility of a pullback.

➡️No matter how the market develops in the end, we just need to try it with risk management.

Let's see 👀

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XRPUSDT.P

20. Nov. 2024

Trade wurde manuell geschlossen

#XRP

Development does not meet expectations
Close position

From a structural perspective, we are currently within the target area and resistance area at the daily and weekly levels, and have constructed multiple short structures, so we need to be alert to the risk of a pullback.

The next strong support can be focused on the support area where the neckline and the buying zone overlap.