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Ripple is on fire, enjoying a spectacular recovery. There are  three levels for the 40% jump, and the move may not be over just yet. What levels should we watch?

The  Technical Confluence Indicator  shows that an initial target is at $0.4817  which is the convergence of the four-hour high, the Bolinger Band 15-Upper, and the 1h-high. However, this is a weak line of resistance.

The next level to watch is $  0.4985, just under the round fifty cent level, where we note the one-day high. The top target is $  0.5252  which is the Pivot Point one-day Resistance 1.

Looking down, robust support awaits at $  0.4576  which is the confluence of two considerable technical lines: the Bolinger Band 4h-Upper and the Fibonacci 23.6% one-day.

Another cushion is at $  0.4479  where we see the Pivot Point one-month Resistance 1, the BB 15m-Lower and the Simple Moving Average 50-15m.

All in all, the path of least resistance is up. Support is stronger than resistance.  

“‹”‹”‹”‹”‹”‹Click to see the Full Confluence Indicator

Here is how it looks on the tool:

XRP USD Technical confluence September 21 2018

The Confluence Detector finds  exciting opportunities using Technical Confluences.  The TC is a tool to locate and point out those price levels where there is a  congestion of indicators,  moving averages,  Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.

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This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence  adjacents  price levels. These weightings mean that one  price level without any indicator  or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas.

Learn more about Technical Confluence

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