A nearly followed analyst and merchant followed warns that the XRP payment token is threatened with massive collapse.
In a new article, the Crypto Ali Martinez merchant said to his 133,300 subscribers on the social media platform X that XRP could form a downstream and lower (H&S) model on the daily graph.
A model of head and shoulders generally suggest that an asset loses momentum and could reverse its upward trend if the price breaks below the support of the structure.
“XRP shapes a head and shoulders on the weekly graphic. It highlights the support of $ 2. Holding it is crucial. “
Looking at the trader’s painting, it seems to predict that XRP will fall to $ 1,255 if the crypto supports $ 2.
XRP is negotiated at $ 2.38 at the time of the editorial staff, up 2.3% in the last 24 hours.
Then, the analyst suggests that Solana (floor) can climb to the upper terminal of an ascending channel after respecting the diagonal support of the pattern around $ 126.
An ascending channel is traditionally considered as a bullish motif, indicating that an asset prints higher and higher ups.
“Solana prepared to bounce?
Solana is traded at $ 129 at the time of the editorial staff, up 1% in the last 24 hours.
Finally, the trader claims that the intelligent qtum (QTUM) draft contract could prepare for a huge corrective decision if it moves below a key support level which has remained intact since November 2022.
“Qtum could be about to have an eye on the support level of $ 1.88.”
Based on the trader’s table, it seems to predict that Qtum can dive at such low $ 0.63.
Qtum is negotiated at $ 2.23 at the time of the editorial staff, up 4.2% in the last 24 hours.
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