Which cryptocurrencies have shown significant price reversals at Fibonacci retracement levels?

3 answers

• Dec 26, 2021 · 3 years ago
  Yes, there have been several cryptocurrencies that have shown significant price reversals at Fibonacci retracement levels. One notable example is Bitcoin (BTC), which experienced a strong price reversal at the 61.8% Fibonacci retracement level during the bull market of 2017. Another example is Ethereum (ETH), which also experienced a price reversal at the 38.2% Fibonacci retracement level during the same period. These price reversals can be attributed to the psychological significance of these Fibonacci levels among traders and investors.
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• Dec 26, 2021 · 3 years ago
  Definitely! Many cryptocurrencies have shown significant price reversals at Fibonacci retracement levels. For instance, Ripple (XRP) experienced a notable price reversal at the 50% Fibonacci retracement level in 2018. Litecoin (LTC) also had a significant price reversal at the 78.6% Fibonacci retracement level during the same period. These price reversals indicate that Fibonacci retracement levels can act as strong support or resistance levels in cryptocurrency markets.
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• Dec 26, 2021 · 3 years ago
  Absolutely! Fibonacci retracement levels have played a significant role in the price movements of cryptocurrencies. One example is Bitcoin Cash (BCH), which experienced a major price reversal at the 23.6% Fibonacci retracement level in 2019. This shows that even the smaller Fibonacci levels can have an impact on price reversals. It's important for traders to pay attention to these levels and use them as part of their technical analysis strategy.
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