đ Ripple price is swinging inside a symmetrical triangle pattern, a breakout is likely soon!
đ On the 4-hour chart, Ripple price is swinging inside a symmetrical triangle pattern, indicating that this digital asset is going through uncertain conditions. The pivot point is currently located at $0.5267, while the next support level is located at $0.5161. If the price drops below this level, it may suffer greater losses, heading towards the support levels at $0.5070 and $0.4987.
đ On the other hand, the price is facing strong resistance at $0.5394, and if the price succeeds in breaking it upwards, it may continue to rise to test the next resistance levels at $0.5542 and $0.5651.
đ The 50-day exponential moving average (EMA-50) at $0.5352 is a resilient resistance level confirming the strength of the resistance level at $0.5394.
đ The Relative Strength Index (RSI) at 52 indicates neutral momentum, but the formation of a symmetrical triangle pattern indicates an upward breakout.
đ Traders should watch these important levels very carefully, as the formation of a symmetrical triangle pattern usually leads to strong price movements when broken.
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