Latest news with #ElliottWave
Globe and Mail
27-05-2025
- Business
- Globe and Mail
USDJPY Faces An Intraday Corrective Recovery: Elliott Wave Intraday Analysis
USDJPY is sharply bouncing after reaching May lows within the wedge pattern for wave »v« of an impulse, so it can be now trading in a higher degree abc correction, which can recover the price back to 145 – 146 resistance area before bears return. Basic bearish Elliott wave pattern shows that a five-wave impulsive decline indicates for more weakness after a corrective three-wave pause. For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on May 26 2025:
Business Mayor
24-05-2025
- Business
- Business Mayor
XRP Price Flashes Signal That Triggered 600% Rally In November 2024
Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. After mirroring Bitcoin's strong breakout over the past week, XRP recently surged to an intraday high of $2.47 before retracing to a lower daily close. Despite this, the broader outlook for XRP is bullish, with the altcoin generally moving in lockstep with Bitcoin and the wider crypto rally. According to recent analysis, a key technical signal just flashed, one that previously preceded a massive 600% rally in November 2024. Familiar Weekly RSI Signal Returns After 200 Days According to crypto analyst Dark Defender, XRP has once again produced a rare Golden Cross on its weekly RSI indicator, an event that last occurred on November 4, 2024. That signal directly preceded XRP's explosive 600% rally, and its reappearance points to the potential emergence of a similar trajectory for the crypto. Related Reading Notably, the appearance of the new RSI cross coincides with the elimination of a long-standing weekly resistance trendline after XRP broke to $2.59 on May 14. The analyst's chart clearly highlights this breakout, with a bright green trendline now breached and a bullish pin bar candlestick forming just above it, adding strength to the bullish case. Read More XRP Whales Loading Up – Data Reveals Buying Activity Source: Dark Defender on X The RSI's behavior in the 1W candlestick timeframe chart below is also particularly telling. The purple RSI line has crossed above the yellow moving average once again, exactly as it did in early November 2024. Back then, XRP flashed the cross when its price was trading around $0.5. However, the ensuing price action saw it explode by over 600% to peak at a multi-year high around $3.31 on January 12, 2025. $3.33 In Sight, But $5.85 May Be The Real Prize Considering the previous price action after the weekly RSI cross in late 2024, crypto analyst Dark Defender's outlook is based on repeating the same 600% rally or close in the coming weeks. Following this development, Dark Defender has outlined two key price targets. Related Reading The first is $3.33, close to the multi-year peak in January 2025. Should XRP break past that level, the next major target lies around $5.85, corresponding to the 261.8% Fibonacci level. The analyst refers to this upper range as the parapet, meaning that this level could be the next all-time high peak after the price rally. The Elliott Wave structure plotted on the chart outlines a five-wave impulsive move, and XRP is now about to enter wave III, the longest and most powerful wave in a bullish cycle. If this structure plays out as expected, XRP could rapidly push through $2.59, hold above $3.33, and rally toward the upper boundary of the projection range. Interestingly, none of these price targets uses a repeat of the full 600% rally . The $3.33 target is 43% away from the current price level, while $5.85 represents a 150% gain from the current price. At the time of writing, XRP is trading at $2.34. XRP trading at $2.3 on the 1D chart | Source: XRPUSDT on Featured image from Pexels, chart from
Globe and Mail
21-05-2025
- Business
- Globe and Mail
Elliott Waves: Dollar Index Can Be Targeting New Lows
Markets started the week in a bit of a risk-off tone—stocks slowed down a bit on Monday , after Moody's downgraded the US credit outlook over the weekend. But nothing significant so far. Interestingly, the dollar also sold off, opening with gaps across the board, which— as we know—can eventually be filled. From an Elliott Wave perspective, we've been eyeing for potential bearish reversal on the Dollar Index last week, and so far the price action supports that view. We've seen three waves up from the April lows, and now also some sell-off that signals for continuation lower—especially as the channel support is broken. But the most important to watch is the US treasuries; a completion of five waves down in C, and a turn up/lower US yields can make dollar much weaker, down to 98.
Business Mayor
15-05-2025
- Business
- Business Mayor
XRP Elliott Wave hints at correction – Why $2.34 support matters next
XRP Elliott Wave analysis suggests a wave 2 correction, with $2.33 as the key level to watch. The MVRV at 2.9 signals neutral sentiment, well below levels that typically mark market tops. After rallying to hit a local high of $2.65, Ripple [XRP] has slightly retraced on its price charts. The altcoin has dropped for two consecutive days to a low of $2.49. At press time, XRP traded at $2.50, down 3.31% on the daily chart. Crypto analyst Man of Bitcoin suggested that XRP may have already topped locally, citing the Elliott Wave structure. Source: X According to the analyst, if the altcoin breaks below the descending trend line, it would indicate that the correction is already starting. Looking at the Elliott Wave analysis, the current support for the corrective wave 2 is building. Wave 2 is a corrective phase that leads to a pullback erasing most gains made during wave 1. This pullback emerges especially when the market starts experiencing a price upswing and investors start to take profit. The support zone for wave 2 lies between $2.19 and $1.79, with $2.33 acting as the next key validation level for downside continuation. Price rally not backed by demand, data shows According to AMBCrypto's analysis, XRP's recent rally was not backed by actual demand but the speculative move by speculative buyers. Source: Santiment For starters, looking at XRP's Price–DAA Divergence, it has remained negative throughout the past week despite the price rally. A negative divergence creates a bearish signal interpreted as unsustainable price movement that's not supported by a growing user base. Thus, prices have grown faster than the actual demand, creating a mismatch. Read More Virtuals price prediction: Should you expect new lows below $2? Such a mismatch leads to lower prices. Source: CryptoQuant Adding weight to the demand concerns, XRP's NVT Ratio spiked from 99 to 207, signaling that valuation outpaced transaction volume. A rising NVT ratio implies that markets are further confirming that the recent price uptrend was not backed by strong demand, which usually leads to price correction. Although XRP prices are not currently supported by a growing user base, the altcoin's MVRV suggests that a top is unlikely and the retrace will not result in strong losses. At 2.9 MVRV, XRP remains in a neutral zone. Historically, a local top has occurred around 3.2 while a market top has emerged above 3.5. Source: Santiment So, what's next for XRP? The recent decline in XRP's price appears to be primarily driven by a broader market pullback. According to analyst Man of Bitcoin, a drop to $2.19 seems unlikely at this stage. If the downward trend persists, XRP may see a pullback to around $2.34 before possibly making another upward move. Conversely, if the retracement is influenced by the overall market sentiment, we could witness a rebound that allows XRP to reclaim the $2.56 level.
Globe and Mail
08-05-2025
- Business
- Globe and Mail
Crude Oil : How we spotted the direction based on Elliott Wave
Crude oil is bearish, and it's coming nicely lower as expected by Elliott wave theory, even on the intraday basis in the past two weeks, as we will represent below that our members received in paid membership. If you are interested in more analysis like this, visit us @ On April 22, we were tracking an a-b-c correction within downtrend, where wave 'c' was forming an ending diagonal pattern, so we warned about limited upside and resistance at 66 area for the final subwave (v) of the wedge pattern within 'c' before bears show up again. TIP: Keep in mind that ending diagonals are powerful patterns, so it need special attention by our analysts. Crude Oil 1H Chart From April 22 2025 Later on April 25, we got that reversal from projected resistance after a completed ending diagonal a.k.a. wedge pattern within wave 'c', so we pointed out that more weakness is coming after an intraday pullback. TIP: Top was in place, so more weakness was in view based on this powerful pattern. Crude Oil 1H Chart From April 25 2025 On April 29, it made a nice intraday pullback, which we saw it as a bearish setup formation with waves 'i' and 'ii' that caused a nice bearish set-up. Crude Oil 1H Chart From April 29 2025 Later on May 02, it extended nicely lower below base channel support line within a projected wave 'iii', but we mentioned and highlighted that more downside can be seen for wave 'v' after a wave 'iv', right into the base channel resistance. TIP: When base channel is broken in wave three, that same lower line can act as resistance after wave four retracement. Crude Oil 1H Chart From May 02 2025 As you can see, on May 05 Crude oil retested the previous intraday lows for wave 'v', which actually confirms the bearish trend, so we can expect more weakness after a corrective pause. TIP: Elliott wave pattern suggests that market will change a direction when five wave move is nearing the end Crude Oil 1H Chart From May 05 2025 By today, on May 7th Crude is already back above 59.00. Our members also received a Trading note by our team, based on this clear recognizable wave pattern. This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy here.
