5th March Ripple Technical Analysis
The information and comments contained herein are not investment advice. Analyzes and evaluations I have done should be based on technical data
In summary ripple spent a very calm week this week
I have prepared a chart daily and each candle represents 1 day
I usually use trend lines and important indicators to read the graphs. The RSI indicator comes at the beginning of these. I am viewing charts daily or 4 hours.
The movements that Ripple has shown have not made any changes in the medium and long term, but on the other hand I think it is very important to recover strength. The FIBO 0.236 ($ 0.93) was also very important area for resistance and support. On the last day of the week ripple broke these levels upwards. It is very important for the future to be permanent on this level. If the bullish movement continues, there is an intermediate resistance at the level of $ 1.19. The FIBO on this resistance is expected to be at 0.382 ($ 1.38) level resistance. The up direction of the RSI indicator is supportive in terms of upward direction. The RSI value is around 46, indicating that purchases are not over. In this phase, RSI must be in our watch. Currently, the FIBO 0.236 ($ 0.93) level is not the first support level. If sales are below this level, we will not be able to enjoy the next support trend.
A stagnant week for Ripple was behind. When we looked at the chart, it was the first such a quiet week for ripple after ten weeks. At the beginning of the week, the ripple of $ 0.89 went to $ 0.88 -0.94. The week closed at $ 0.94. This was the highest level of the week, with a 5% increase on a weekly basis.
In Ripple we see the most stagnant figure of the past week. The weekly FIBO started below the level of 0.236 ($ 0.93), ripple, tried to pass this resistance in the middle of the week and was not successful. It's back to the starting price again. During the week the price movement continued below this level. However, if we look at the last day of the week, we see the FIBO breaking up 0.236 ($ 0.93).
Ripple is the direction in which the graph will go out, we can have a 0.25 $ movement in that direction .. but the market will be recovering and -1.85% will contribute to the RSI position ripple so we can experience an increase of 0.25 $. target $ 1.15
