Bearish Triangle at the Top Calls for Caution

The price of Ripple has been in an uptrend for some time – and this trend could continue above the uptrend line. However, there are dark clouds on the horizon, and an inversion triangle suggests caution.

These triangles usually form at the top of a trend, but also before prolonged consolidations. In terms of Elliott Wave Theory, such a triangle that reverses price movement is part of a flat or complex horizontal pattern.

The problem with Ripple’s price comes from a comparison with the two previous triangulation models. They acted as extensions – pennants. The continuation pattern above the uptrend line is bullish enough to warrant a move to higher highs, which has happened.

Only now the triangle has been broken downwards and the price is threatening to drop below the rising trend line. The key area below is crucial for price action in the short to medium term.

If the crypto currency market peaked the week Coinbase went public, that would be something.

Price Ripples Technical Analysis

Bulls might take some chips off the table, as the triangle, as a reversal pattern, calls for caution. A move below the key zone indicates further weakness. Bears will want to wait for such a move before selling with a stop at the highs.

Don’t miss your chance! Follow us on Telegram and Twitter.

Pulse prediction price

More content

Bearish Triangle at the Top Calls for Caution

Related Tags:

ripplexrp lawsuitlatest news on ripple lawsuitripple lawsuit news todayxrp newsripple price,People also search for,Privacy settings,How Search works,Ripple,Payment protocol,xrp lawsuit,latest news on ripple lawsuit,ripple lawsuit news today,xrp news,ripple price,xrp announcement,ripple sold xrp

Latest News

How to Invest in Amazon Coin

Amazon Coin is the cryptocurrency of Amazon.com, and it has already been released for use on the platform. This coin can be used to...

The Retail Adoption Wave is Coming

The retail industry is undergoing a massive transformation. Blockchain technology has the potential to revolutionize this sector, making it more secure and efficient than...

Is Smooth Love Potion (SLP) a Good Investment?

Smooth Love Potion is a cryptocurrency that has been around for a while now. It was originally created as a joke, but it caught...

Kraken Fees: Breakdown for Crypto Trading and Purchasing

Fees are a major issue for traders and consumers of cryptocurrency, even though the industry is still in its infancy. Kraken’s fees have been...

Related articles