Ripple On an Upside Move – Ripple sometime before broke above a descending trend line hinting that a reversal from the slide may be in order. Price then gained the upside move as it also busted through a consolidated pattern. Ripple aiming for the next area of interest at 0.3600 and then the 200 SMA dynamic inflection point around 0.3800. The sell-off is more likely to resume than to reverse. Globalxchange.
Global exchange. RSI for the pair is indicating overbought conditions, stochastic is moving up but also dipping into the overbought territory to signal that seller might take over. A bit of consolidation could be seen, but this might still prove to be a bullish continuation pattern. Global exchange. A break higher could spur a climb that’s the same height as the flag’s mast while a break lower could trigger a pullback to the 100 SMA, broken trend line, or former range resistance.
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