XRP/USDT: Historical Resistance and Retesting Inverse H&S ?
In our analysis of the XRP/USDT chart, we have identified two significant price levels that traders should closely monitor.
Firstly, the range between 0.5329 and 0.5365(gann levels) represents a historically strong resistance zone.
Secondly ,after encountering resistance at 0.5329 to 0.5365, XRP/USDT might undergo a retracement and retest the inverse head and shoulders pattern. This retest is anticipated to take place within the range of 0.4704 to 0.4746. The completion of this retest would further validate the potential bullish reversal signaled by the inverse head and shoulders pattern.
Utilize this analysis to make informed trading decisions while remaining attentive to potential market volatility.
#plan your trade , trade your plan.
Firstly, the range between 0.5329 and 0.5365(gann levels) represents a historically strong resistance zone.
Secondly ,after encountering resistance at 0.5329 to 0.5365, XRP/USDT might undergo a retracement and retest the inverse head and shoulders pattern. This retest is anticipated to take place within the range of 0.4704 to 0.4746. The completion of this retest would further validate the potential bullish reversal signaled by the inverse head and shoulders pattern.
Utilize this analysis to make informed trading decisions while remaining attentive to potential market volatility.
#plan your trade , trade your plan.