Ethereum is toast against XRP! Broke out of channel formed during 2018 on good volume and back to Dec highs set
in 2017. XRP currently forming a Bull flag and looks like higher prices to come for XRP should it clear the yellow box on good volume. XRP is a buy in the yellow box area.
Who does really look a XRP ETH chart lol, anyway I did make one...
I am not a ew fanatic, but I respect the 3 wave.
We got a bear div on rsi, and fib 0.5 looks good it can bounce before that, but this is how I look it
Also the trading fork hits there
.RIPPLE/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 46.
. While the price downtrend in the Daily chart is not broken, bearish wave in price would continue.
. There is still a possibility of...
Ripple (ETH pairing) has found strong support (green line) and is currently consolidating along it to finish wave 2.
Wave 3 will begin once top of resistance line (triangle) is broken.
Remember... "Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5" ;).
Remember to update stops at each fib level.