Dash, Ripple - Potential Opportunities In Cryptocurrency Market
TeleTrade-DJ International Consulting Ltd | Jan 31, 2018 11:11
Since the beginning of the year, the majority of cryptocurrencies have followed a correction trend after ending the year, also in general, with large appreciations in percentage terms.
However, there are some cryptos that are showing signs of rejection to new bearish movements.
In this article, we going to look at two cryptocurrencies that we consider have a potential for medium/long term.
- DASH (DASH/USD)
- Ripple (XRP/USD)
On the weekly chart, we can observe that in the last 3 weeks the price has started a correction movement as soon as it reached values close to $1600
At this moment the price is already in the $700.
We can also see that it is close to interesting levels of fibonacci (68.2% e 78.6%) so it can be interesting to follow this cryptocurrency once it starts to give clear signs of rejection, similar to what happened in the closing of the previous week's candlestick
h3 Ripple - Daily time frame chart Analysis/h3Ripple has been one of the most highly valued crypto-coins in recent months (especially at the end of 2017).
However, since it reached new highs to pass the $3 barrier, it has been correcting and giving signs that the price may be stuck in the range between $0.89 and $1.2
Using the tools of technical analysis we can see that, curiously, this range is where the 78.6% fibonnaci level is found, so the possibility of starting a new uptrend may be soon.
Therefore, we can expect a further appreciation on Ripple’s value in the medium/long term.
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