Published
4 years ago on
November 21, 2019
In this 30-minute chart of Ripple/ Euro (XRP/EUR), there is an appreciating range from 0.2175 to 0.2335.
We can see the price depreciated to the 0.2250 level (identified by the blue up arrow), just above the 0.223612 level, representing the 61.8% retracement of the appreciating range.
We can see the price then appreciated to the 0.2282 level (identified by the red down arrow), just above the 0.227388 level, representing the 38.2% retracement of the appreciating range.
Using RSI, we can see the slope of RSI (14) and RSI Average (3) were both positive during the appreciation from 0.2240, and that RSI (14) bullishly crossed above RSI Average (3). In subsequent bars, we can see the slope of RSI (14) remained unchanged with RSI (14) indicating at 52.883, an indication the appreciation was losing momentum.
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