Good Morning, please see the original chart (Sep 7, 2021) for information and explanation about how the channels were created in connection with fibonacci retracement tool.
Today we will be continuing to look at XRP using the 15 minute time frame, and we are in the same position as yesterday. We are looking at upper resistance at about $1.19 and lower support at about $1.03. You will notice that overnight, we took a stab at the support level but were immediately rejected. It is clear, again, that these fibonacci channels as I call them, are governing the movement of XRP at this moment, with the classical fibonacci retracement levels also holding relevance.
We will wait and see what happens today, much like yesterday. Same potential entry point at around $0.87-$0.85 if our support at $1.03 breaks. It also would not shock me to see a brief dip below (like the brief rise above) and then a return to our current channel.
Today we will be continuing to look at XRP using the 15 minute time frame, and we are in the same position as yesterday. We are looking at upper resistance at about $1.19 and lower support at about $1.03. You will notice that overnight, we took a stab at the support level but were immediately rejected. It is clear, again, that these fibonacci channels as I call them, are governing the movement of XRP at this moment, with the classical fibonacci retracement levels also holding relevance.
We will wait and see what happens today, much like yesterday. Same potential entry point at around $0.87-$0.85 if our support at $1.03 breaks. It also would not shock me to see a brief dip below (like the brief rise above) and then a return to our current channel.
