A prominent analyst highlights an important area of resistance for XRP to cross in order to approach a new all-time high.
Known in the industry by the nickname Credible, he told his 263,300 followers that XRP is showing strength right now and the sky will be the limit if it breaks the resistance area in the High Time Frame (HTF).
“Once XRP manages to reclaim $ 1.70 on HTF, it will target new ATH … you can see here why this area is so important.”
XRP / USD 3-day chart | The source: Credible / Twitter
According to the Credible chart, the $ 1.50 to $ 1.70 zone was the breakout point in May, triggering a multi-month downtrend for XRP until it bottomed out in July.
The crypto strategist is also looking at Hedera Hashgraph (HBAR), a public network for peer-to-peer payments. According to Credible, the HBAR looks bullish after breaking above a key level.
“HBAR just had its first daily close above the below mentioned supply zone ($ 0.42). Seat belt. Your patience will pay off. ”
HBAAR / USD daily chart | The source: Credible / Twitter
Credible also said that most altcoins look bullish despite the recent broad-based correction.
“Most altcoins keep their bullish structure. The sell-off only left long wicks below, a sign of buying pressure. So I think altcoins could explode heavily in the near future. ”
You can see the coin prices Here.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
According to Dailyhodl