Market Review and Technical Analysis

  1. Review of Yesterday's Market Trend

    • Yesterday, XRP showed a trend of rising and then falling within a short period, testing the highest point around 2.72 USD but quickly retracing and closing near 2.57, indicating significant selling pressure above.

    • On the 4-hour candlestick chart, the price is still running along the MA30 (daily moving average). The short-term moving average is turning upwards, indicating that bullish power still exists, but there is strong resistance above.

  1. 1-Hour Chart Analysis (Short-Term)

    • MA7 (Short-Term Moving Average) is currently around 2.57, indicating price support, but there is short-term downside risk.

    • MA30 (Medium-Term Moving Average) support level is at 2.56; if effectively broken, it may further pull back.

    • Resistance Level: The key resistance above is in the 2.65-2.72 range, where yesterday's spike failed to stabilize, indicating multiple tests are still needed in the short term.

    • Candlestick Pattern: Yesterday's high point around 2.7289 formed a significant long upper shadow, indicating substantial bearish pressure in the market.

  2. 4-Hour Chart Analysis (Medium-Term)

    • MA100 (Daily Moving Average) long-term support is around 2.43, indicating this position is an important dividing line between bulls and bears.

    • The candlestick structure is forming a slow ascending channel, but it currently faces resistance above. After a short-term pullback, watch to see if it can stabilize above 2.60 again.

    • MACD Indicator: The DIF line and DEA line are nearing a death cross at high levels, indicating a reduction in short-term bullish momentum and warranting caution against price decline risks.

Operation Suggestions

Operation Direction: Today, the focus is on shorting at highs, with some long positions at lows. Market sentiment is showing a bearish bias, and strategies can flexibly respond to pullback opportunities.

Short Position Operations:

  • Entry Range: 2.62-2.65

  • Target Levels: First Target 2.56, Second Target 2.50

  • Stop Loss Level: 2.72

  • Reason: The short-term upper shadow line is suppressing, bullish momentum is insufficient, and the MACD indicator shows bearish signs.

Long Position Operations:

  • Entry Range: 2.50-2.52 (close to MA100)

  • Target Levels: First Target 2.60, Second Target 2.65

  • Stop Loss Level: 2.43

  • Reason: The area around 2.50 serves as a support zone; if stabilization signs appear, a light position can be taken to capture a rebound.

Today's overall trend for XRP is expected to be primarily a volatile correction, with short-term resistance at 2.65-2.72 and support at 2.56. If the key support level of 2.56 is broken, it may further test the 2.50 or lower levels. In terms of operations, prioritize short positions at highs and light long positions at lows.

Understanding market rhythms is the beginning of wealth management! Follow Lao Tan, plan ahead, and let the next peak belong to your account! Stay tuned to Lao Tan, and never let opportunities slip away!
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