Bearish XRP Triangle Stops Bulls, Toncoin (TON) Performs Fundamental Breakout, Bitcoin (BTC) Is Above $60,000: What’s Next? By U.Today
From Investing.com
September 16, 2024 02:30 AM:
XRP is currently trading within a symmetric triangle pattern, facing strong resistance at the top with a lack of significant breakout indicating weak bullish momentum. While short-term bearish, the pattern suggests a longer-term bullish trend but bulls are currently losing the battle.
Toncoin broke above the crucial 200 EMA at $5.57, indicating a potential change in price trajectory with the possibility of further upward movement. Breaking more resistance levels, especially the 50 and 100 EMA, will be key for Toncoin’s bullish momentum to continue for a sustained rally.
Bitcoin has finally breached the $60,000 milestone, sparking optimism for a long-term market recovery. However, crucial resistance levels at the 50 EMA and 100 EMA must be overcome to signal a confirmed bullish trend reversal. Failure to maintain momentum above $62,000 could lead to retracement to lower support levels.
Read more at Investing.com: Bearish XRP Triangle Stops Bulls, Toncoin (TON) Performs Fundamental Breakout, Bitcoin (BTC) Is Above $60,000: What’s Next? By U.Today