Ripple: should we buy now?
The market is in the uptrend on the Daily price chart. The price is around the support level now. The correction came to an end on October 3 and the pullback buying opportunity was formed.
The movement in recent days has formed a new support level with the borders of $0.4457 – $0.4168.
The nearest target for the upward movement is the resistance level with the borders of $0.4882 – $0.5109 formed on September 29 – October 1.
If the market is closed above this resistance successfully, the price is likely to move forward to the target #2 – it is the resistance level with the borders of $0.6485 – $0.6572 formed on May 4 – 5.
Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of September 27 – 29.
The movement in recent days has formed a new support level with the borders of $0.4457 – $0.4168.
The nearest target for the upward movement is the resistance level with the borders of $0.4882 – $0.5109 formed on September 29 – October 1.
If the market is closed above this resistance successfully, the price is likely to move forward to the target #2 – it is the resistance level with the borders of $0.6485 – $0.6572 formed on May 4 – 5.
Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of September 27 – 29.
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