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RIPPLE, VECHAIN AND ELROND



The entire crypto market was deep red yesterday. So today we're taking a closer look at Ripple, VeChain, and Elrond. Is there already a chance of a trend reversal here? Are we seeing bullish signs and a recovery?

Ripple had to cope with a sharp price decline yesterday. Here, too, we saw a dip of over 10% at times. We are currently at around USD 0.95, which is significantly higher than yesterday.

After we were at the lowest point at around USD 0.90 and thus briefly left our falling wedge chart pattern downwards, we are now back in this position, which is a good sign.

In addition, we have formed a bullish divergence in the RSI on the 4H chart , which could give us an additional boost for today or the weekend.

Same picture at VeChain. Here we also had a drop of over 15% at times, until the market  recovered somewhat over the course of the night . We are now at around $ 0.1152.

Here, too, we see a bullish divergence in the RSI , which could bring us something bullish and cause a trend reversal in the smaller time units. First of all, we should pay less attention to the trading volume.

Since there is clear uncertainty in the market, the trading volume in the current situation is to be rated weaker than after a bullish breakout. The next resistance is at around $ 0.125.

At Elrond, a correction after this steep rise at the beginning of the week was more than overdue in order to be able to continue to rise healthily. Right now we're in a support zone at around $ 411.

After EGLD rose from one high to the next this week and we have now reached an all-time high at around USD 550.00, the correction did not come as a surprise. 

The monthly support R3 currently gives us significant support for the 4H support zone. This should not be broken, otherwise courses of up to USD 350.00 would be possible again.

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