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These three altcoins are all showing the same bearish pattern right now. In this article, we will be talking about the levels to watch to get an estimate of where the price is headed.
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XRP Bearish Pattern
Right now, the XRP price has rejected from the top of the channel, and there is a very high probability that the price will sell-off back down to the base of the channel in the coming days.
For this sell trade to occur, we need to see the XRP price continue to trade below that previous high of $1,0685. If that level holds, there is very high probability that XRP will sell-off back down to the base of the channel in the coming days.
LTC Bearish Pattern
LTC is currently trading within a channel. This channel provides us with key levels to trade-off from in the short term. We are expecting to see the LTC price sell-off back down to the base of the channel in the coming days. So a sell trade at this point in time with a stop loss above that $195 highs would be a high probability trade setup.
LINK Bearish Pattern
This same bearish pattern is playing out on the LINK/USD chart. We can see the channel forming and the altcoin price respecting it. The key level to watch on the Link chart is the $27.948 previous highs level. A price break above this level invalidates the sell setup.
Final Verdict!
The XRP, LTC, and LINK charts provide us with a high-quality short-term trade to the downside, but in no way are these trades without risk. The key levels we have mentioned above are the points of invalidation for each of these trades.
For More Trade Setups
Check out our price prediction on Bitcoin and Ethereuim. In this video, we explain the key levels to watch and what to look out for in the coming days!
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