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Bitcoin

Flash Habboudia signs with XRP preparation for more downward direction

Ripple faced sharp rejection on the upper border of its disputed wedge, which led to a significant decrease. In addition to the Haboodi expectations, the original declined under the average transportation of each of 100 days and 200 days, which raises an important technical update that raises the possibility of extensive correction.

XRP analysis

Daily chart

The last XRP attempt to get out of its long -term unification range was faced with a noticeable sale pressure. After testing the upper borders to form a descending wedge near $ 2.5, the original was firmly rejected and since then it decreased sharply, which reduced both the moving averages for 100 days and 200 days, which had previously been working as a dynamic support around the level of $ 2.2.

This declining development is more intensified due to the appearance of the death cross, as the 100 -day MA crossed less than MA 200 days, and it is often seen as a sign of landmarks from mid to long.

As the momentum is now preferred, the concentration is transmitted to the following important support areas: Psychological level $ 2 and a wedge that is less than $ 1.5. These lines are likely to be a decisive battle jackets for bulls that try to stop the downward trend.

The graph for 4 hours

With the timeline for 4 hours, XRP was limited to a short -term racist, usually a declining pattern. The price has been violated since then the lower direction line of the bomber near $ 2.3, confirming the collapse and strengthening of the declining narration.

Currently, Ripple tests the main support level at $ 2.1. The decisive decrease below this level can accelerate the declining direction, and opens the door to fall towards the support area of ​​$ 1.5. On the other hand, if buyers are able to defend this level, a temporary unification phase may follow between $ 2 and $ 2.3, although the momentum still tends to drop unless a strong reflection develops.

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