Golden Cross Signals Potential Reversal for Crypto After Brutal Downtrend
Market analyst Xaif Crypto signals a potential bullish turn as a Golden Cross emerges on the Ichimoku Cloud. After a prolonged downtrend, the cryptocurrency has stabilized at $1.44 per CoinCodex data, hinting at consolidation ahead of a possible recovery.
The Ichimoku Cloud, a key technical indicator, highlights support, resistance, and momentum.
A Golden Cross, when the Tenkan-sen rises above the Kijun-sen, signals potential bullish sentiment. Xaif Crypto notes this cross is forming below the cloud (“Kumo”), suggesting early bullish momentum, though confirmation is needed for a strong uptrend.
Meanwhile, XRP faces its fifth consecutive losing month, a streak that preceded a 60,000% surge in 2017.
Well, bulls could regain control if the price breaks back above the Ichimoku Cloud, signaling a shift from bearish to neutral or bullish. This could spark a strong rally toward $1.65, a potential 14% gain, reversing weeks of selling pressure.
Ichimoku Cloud Signals Potential Bullish Reversal
XRP’s current stabilization around $1.44 marks a critical decision point. Sustaining above this level could trigger a bullish breakout, while failing to reclaim the Ichimoku Cloud may deepen the downtrend and reinforce bearish sentiment.
Consecutive higher lows signal a potential near-term rebound, making this moment pivotal for short-term price action.
What’s the key takeaway? Well, Xaif Crypto signals a pivotal moment for the cryptocurrency because a Golden Cross and bullish Tenkan/Kijun signals suggest potential upside.
Reclaiming the Ichimoku Cloud could spark a reversal toward $1.65, giving traders a key opportunity after prolonged bearish pressure. The next sessions will determine if bulls or bears dominate.
Conclusion
The cryptocurrency stands at a key turning point. A Golden Cross on the Ichimoku, alongside bullish Tenkan/Kijun signals, suggests that reclaiming the cloud could trigger a reversal toward $1.65.
While recent losses warrant caution, bulls strengthen above the cloud, whereas a failure to hold current levels may prolong the downtrend.
Therefore, the coming days will be critical in defining the market’s shift toward optimism or continued weakness.
Source: https://coinpaper.com/14956/xrp-bulls-eye-1-65-as-golden-cross-sparks-reversal-hype
