Wait | 05 July 2018

Wave Analysis

After a rebound from the 4 hour support level 0.4476., Ripple rallied higher but is currently trading around a key resistance trend line acting as a resistance to the falling channel formation. This is a good sell place, and as long as the trend line protects the upper side, we expect a clear rebound from this level to pick a short position with the first target at 0.5414 and the next at 0.6950. This view can only be invalidated in case the price breaks below 0.4476. If this is the case, we'll expect further rally downwards.

Trade Recommendations:

Wait for a clear break above the immediate trend line to pick a long position.

101% Double the volume