Market Update: ETHUSD & XRPUSD – Jan 11th, 2023

NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.

ETHEREUM – ETHUSD: Looking To Sell AT Or Around $1351 – $1384 Resistance Area

Comments: The market is now trading (As of this writing) just below the $1351 – $1384 short-term resistance area.

The market sold off significantly from the recent Bearish Tailed Candle formation (Also known as Bearish Pin Bar Setup), that had formed right below the $1351 – $1384 Resistance Area on Wednesday, Dec 14th.

Potential Trade Signal: We are waiting to sell on a pullback to the $1351 – $1384 resistance zone, and after a Bearish Setup or Signal.

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RIPPLE – XRPUSD: Price Moved Higher From The Bullish Candlestick Setup

Comments: Price moved slightly higher from the Bullish long-Tailed Candle formation (Also known as Bullish Pin Bar Setup) that had formed just above the 0.3026 – 0.3205 short-term support area on Monday, Jan 2nd (We posted this Potential Trade Signal in the Jan 3rd Market Update, and hopefully some traders got on board).

Potential Trade Signal: We are still looking to buy on a pullback to within the range of the current Bullish long-Tailed Candle formation (Also known as Bullish Pin Bar Setup), with stops below the low of this setup (Second chance entry).

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Disclaimer: The risk of loss in trading financial market products, like Cryptocurrencies can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Any content posted here should not be considered financial or Trading advice, this newsletter is just for information purposes and is just the author’s opinion.