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Can you share some real-life cases where bullish divergence led to significant price increases in cryptocurrencies?

avatarMannat JainDec 26, 2021 · 3 years ago1 answers

Could you provide some real-life examples where bullish divergence in cryptocurrencies has resulted in significant price increases? I'm interested in hearing about specific cases where the price of a cryptocurrency experienced a notable uptrend as a result of bullish divergence in its price action and technical indicators. Please share any instances you know of and provide some details about the specific cryptocurrencies involved and the extent of the price increase.

Can you share some real-life cases where bullish divergence led to significant price increases in cryptocurrencies?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    Certainly! One interesting case of bullish divergence leading to a significant price increase in a cryptocurrency is the example of Ripple (XRP) in 2017. During that time, Ripple experienced a bullish divergence on the daily chart, where the price was making lower lows while the Stochastic Oscillator was making higher lows. This signaled a potential trend reversal and attracted the attention of traders. Consequently, the price of Ripple started to surge, eventually resulting in a substantial price increase over the following weeks. It's important to note that while bullish divergence can be a powerful indicator, it should be used in conjunction with other analysis techniques to make informed trading decisions.