squeeze momentum indicator tradingview reddit

#SQUEEZE MOMENTUM INDICATOR TRADINGVIEW REDDIT UPDATE#

#SQUEEZE MOMENTUM INDICATOR TRADINGVIEW REDDIT UPDATE#

In the most recent update on January 11, the SEC has taken steps to compel Ripple to furnish financial documents and information related to its XRP sales. The ongoing case remains a pivotal factor influencing the future price movements of XRP, as it is yet to reach a conclusive resolution. It is noteworthy that XRP has been unable to make significant strides towards the crucial $1 mark despite high expectations following partial legal clarity affirming its non-security status in the Securities and Exchange Commission ( SEC) case. First slow, as it is happening now, and then a sudden crash to liquidate all those who are long,” he added. “This combination of signals can lead to a major drop. The descending triangle formed since mid-November, coupled with lower highs and decreasing volume, painted a concerning picture for the XRP market. Looking back to Santana’s analysis from January 5, he highlighted the alarming signs of an imminent crash, where he pointed out that XRP had consistently moved below EMA200 with a weak Relative Strength Index (RSI) of 34.33, signaling a bearish momentum. I will be here sharing with you the best time to enter when support is found,” he said. We will have plenty of time to buy at lower prices and enjoy and entire year of growth (2024). Since this is just the start, brace for impact.

“It will be a very strong correction based on the action today. The subsequent day, January 12, marked a full-red session, leading Santana to predict a correction based on the day’s market action but remained optimistic about prospects. The upper triangle trendline also witnessed a touch, signaling a potential reversal. For instance, on January 11, he highlighted a critical rejection point just below the Exponential Moving Average 50 ( MA), where XRP briefly exceeded the level of $0.6054 but ultimately closed below it. In arriving at this projection, the analyst shared several technical analyses. Notably, in a TradingView post on January 12, prominent cryptocurrency analyst Alan Santana pointed out, based on recent price movements and technical indicators, that investors should brace for impact, forecasting XRP will undergo ‘a very strong correction’. In response to this trend, analysts are now forecasting substantial declines in the valuation of XRP in the coming days. The token has suffered significant losses recently, falling below the $0.60 support level. Although the general cryptocurrency space is experiencing a bearish trend, primarily attributed to the diminishing excitement surrounding the Bitcoin exchange-traded fund ( ETF), XRP stands out as one of the most affected cryptocurrencies.

Squeeze momentum indicator tradingview reddit