Elliott waves crypto analysis – Remain long with your target at 1.0552


Wave Analysis

After a false break below the 4 hour support level 0.8348, Ripple pulled back again above this level and is currently rallying above it, this is a clear bullish dominance signal and as long as this level is not violated to the lower side with an exceptionally big candle, we expect a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upper side and should break above 1.0552 with the next ideal target at 1.1592. This view will only be rendered futile in case the price breaks below 0.8344, this being the case, we’ll expect a drop towards 0.7058.

Trade Recommendations:

Remain long with your target at 1.0552

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