Ripple Technical Analysis for 06/29/2017 – Triangle Still Intact?
Ripple is still putting up a fight and recovering from its lows, creating a new symmetrical triangle formation on its 4-hour time frame. Price could be due for a test of resistance at the 0.2800 area from here.
The 100 SMA is still below the longer-term 200 SMA on this chart, though, so the path of least resistance is to the downside. In other words, resistance levels are more likely to hold than to get broken. Also, the moving averages appear to be holding as dynamic inflection points for the time being and keeping gains in check.
Read more here: http://www.livebitcoinnews.com/ripple-technical-analysis-06292017-triangle-still-intact/
Nice analysis!
Interesting analysis... but who knows? They may release some news tonight which will make price explode. I'm hoping something like that will happen but with Ripple and their XRP... I'm not all that confident that it will ever go even to $1.
So what happens when it reaches the tip of this triangle? up or down?