Pseudonymous crypto analyst Credible tells his 263,300 followers that XRP is currently taking it one level at a time and should see clear skies to new all-time highs (ATH) once it breaches a high timeframe (HTF) resistance.
“Once we manage to clear $1.70 on HTF, we are going to absolutely take off targeting new ATH… You can see here why this region, in general, is so significant.”
According the Credible’s chart, the area between $1.50 – $1.70 was the point of breakdown in May, which ignited a multi-month bear trend for the seventh-largest crypto asset until it bottomed out in July.
Looking at Bitcoin, Credible says that BTC is primed for a short-term bounce after retesting support around $62,000.
“[BTC] decided to take the lows first. Let’s run it back to $66,000 = now. Note that while BTC made a local lower low here, most alts did NOT. This is a good sign.”
On November 8th, when Bitcoin rallied above $67,000, Credible predicted the rally would fall short and BTC would go through a short-term pullback.
The crypto strategist is also looking at Hedera Hashgraph (HBAR), which is a public network for peer-to-peer payments. According to Credible, HBAR looks bullish after climbing above a critical level.
“Ladies, gents, and HBAR-barians, we just got our first confirmed daily close above the supply zone that I was referring to below ($0.42). Buckle up. Your patience is about to be handsomely rewarded.”
Credible also says most altcoins look bullish despite the recent across-the-board correction.
“Downside limited from current levels. Most alts took big hits but ultimately were retesting key breakout levels and have maintained their bullish structure, leaving long [liquidation] wicks in their wake. This was just a shakeout and most of the damage is done in my opinion.”
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter , Facebook and Telegram
Surf The Daily Hodl Mix
Check Latest News Headlines
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Susanitah
The post Trader Who Called Latest Bitcoin Correction Says XRP Is One Resistance Away From Rallying to New All-Time High appeared first on The Daily Hodl .