Alikze »» XRP | Rising triangle pattern

30 sept.

🔍 Technical analysis: Rising triangle pattern


- It is in the supply zone in the daily time frame.

- An ascending triangle is now formed.

- Therefore, with the support of the 59 cent zone, it will have the ability to break the supply zone.

- After the failure of the supply area, it can continue its growth until the next supply area.

- According to the formation of the incremental triangle pattern, it can grow as much as the height of the triangle up to the area of ​​one dollar.

- Therefore, after the failure of the supply zone and pullback to it, it can climb up to the next supply zone.

💎Alternative scenario: In addition, if the dynamic trigger zone is broken from the bottom, the bullish scenario will be invalidated.
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30 sept.

Note

Currently, according to the analysis, it has faced sales pressure in the supply range. Therefore, expect to face demand in the range of 0.58. The failure of the supply zone will pave the way for the upward movement of the currency.