An overview of important support and resistance levels of the four major currency pairs of the ongoing week. |
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• First key support level of EUR/USD: 1.012001 • First key support level of USD/CHF: 0.960014 • First key support level of GBP/USD: 1.196346 • First key support level of USD/JPY: 136.258525 A technical Analysis of the boastful cryptocurrency; XRP XRP, the boastful and the topmost on the cryptocurrency list, has experienced drops in value after reaching the all-time high of $3.2, which put the long-term buyers in a desperate situation. Within the past weeks, the sellers were able to reach the all-time low of $0.2860, which made the price saturation with buys in weekly and monthly time frames, and this issues a potential price increase (however slight) within the upcoming candles. If the crypto market remains in crisis and pressure trend, and the support lines are broken and threatened, the important upcoming support level is $0.1640. The price has stopped the further decline in the weekly time frame by reaching the two important support levels. Also, the price has formed and stabilized at the price bottom of $0.2860, which could not move the price ahead. Regarding the price actions formed since 2021, the harmonic pattern of Gartley has been created. With the formation of this pattern’s “D” point, a fair warning has been issued for price increases within the upcoming candles (weekly and monthly). In case of a price increase, the target prices are the support levels of $0.3736 and $0.5. In the current situation, in shorter time frames like daily and four hours, the downtrend is dominating (a waring for short-term buyers), and the minimum requirement for trend reversal and price increase signal for the mentioned scenario happens is when a price bottom forms and stabilizes. Therefore, the important support levels in the current situation are $0.32, $0.311554, and $0.3 Warning: Please note that the cryptocurrency market is highly volatile, and trading crypto assets is risky. Also, given the complicated market status, the above analysis is by no means financial advice for selling or buying cryptocurrencies. (Not Financial Advice) CloseOption Team |
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