Ripple, Electronuem, Steem and SBD ready for new highs?

In the past 36hours we experienced nearly all altcoins plummeting due to some fundamental factors behind it. A lot of investors were shaken out of the volatile market as prices dipped lower clearing all positions being held by investors especially people with little or no idea how the market operates. Some may call it market manipulation while some may say it’s pump and dump or whatsoever. Financial markets like Stocks, futures, forex do create dip lows and highs which is normal in these markets for those who are into trading in the financial markets as mentioned above. Crypto currency is a new market listed among these markets, most of its move are caused by speculations and fundamental factors(news)from investors. In the last 36 hours we experienced a massive drop/pullback on the crypto world which have made a lot of people panic about its next move and some people even loosing their initial investment on these pullbacks. Technically i made some analysis on certain coins which I’m much interested in ofcourse I will share them with everyone in the community and I will like to know what you guys think about my analysis. I applied technical analysis from my experience trading the biggest financial market which is the foreign exchange market. I am a day trader in the forex market, most times I apply technical analysis on crypto charts which actually plays out most of the time. Here are some of my technical analysis on certain coins.

•steem/Btc

I’m much interested in Steem/btc because it’s a coin which is used here on steemit. I’m much interested in the value of Steem. The above chart is a technical analysis carried out by me. In this chart, we have price settling at a deep Fibonacci key zone which happens to be the 61.8 and 78.6 retracement zone. I’m patiently waiting for a bounce on that deep retracement zone and possibly if we get a break out of the descending trendline then we might see steem gain a whole lot of value which is going to Favour all the steemians.

•SBD/BTC

SBD/BTC is another coin I’m really concerned about. For the past 5 days the Steem block dollar has been loosing value. The coin traded at $8.2 as at last week and it’s currently trading at $4.15 dollars for one SBD.

SBD correlates positively with the Steem(they have the same similar price movements on the charts). SBD is also sitting at a deep Fibonacci retracement zone of 61.8% to 78.6%. These Fibonacci regions are critical price zones that prices bounces or rejects from most of the time In both forex, futures,stocks and cryptos. If we get a break or if price bridges this critical zone(strong or important zone) then we could likely see further continuations to the downside on these coins making it lose more value technically which we hope it doesn’t. I’m anticipating a breakout from the descending trendline, if we get a breakout then we could see price rally to the upside making SBD gain a whole lot of value and putting smiles on our faces lol.

•Electroneum

Next altcoin is Electronuem which holds a lot of potentials. Price pretty much rejected from this fib region so we might likely see price move to upside possibly creating new highs taking away previous highs.

•XRP/USD

A lot of investors expected ripple to touch $4 a ripple from the $2 level. Unfortunately that didn’t happen as sometimes it’s quite difficult to predict price movements. Ripple plummeted to $1 making a lot of investors panic from the massive pullback. But there seem to be hope for a possible new highs around $3.6 or $4.00 to be created from the current level. The waiting game begins.