$XRP 12/10 Night Market Analysis
Price Trend
• Latest Price: 2.1656 USDT, 24-hour decline expanded to -10.06%, further indicating strong bearish pressure.
• The chart shows that the price continues to operate below the resistance line and is below the moving averages (EMA7, EMA25, EMA99), indicating a bearish trend in the short term.
• The marked take-profit balance price is 2.0150, which represents a potential target support area.
Technical Indicators
1. Moving Averages (EMA & MA):
• EMA7 (Short-term Moving Average): Continues downward, indicating strong bearish trend in the short term.
• EMA25 and EMA99: Forming a resistance zone, if the price cannot break through, it will further test the support.
• MA5 and MA10: Short-term moving average death cross, reinforcing bearish signals.
2. MACD Indicator:
• DIF line and DEA line are close to the zero axis but still in the negative zone, indicating weak market sentiment.
• The histogram is shrinking, indicating that bearish strength has slightly weakened, but no reversal signs have been observed.
3. Trading Volume:
• Trading volume is slowing down, the market may be in a wait-and-see phase, attention should be paid to breakout or breakdown signals.
Support and Resistance Levels
• Support Level: 2.0150 (Take-Profit Balance Price), if it breaks below this point, it may further test 2.00.
• Resistance Level: 2.2978 (EMA25), if it can break through, a short-term rebound may occur.
Strategy Recommendations
Bearish Operations
• If holding a short position, consider using 2.0150 as the target price and strictly set a stop-loss at the resistance level (such as 2.29).
• Short position targets can be set at lower support areas (such as 2.00 or below), but be cautious of rebound risks.
Bullish Operations
• If looking to buy the dip, it is recommended to wait for the price to approach 2.0150 and confirm a stop-loss signal before entering.
• After entering, set the stop-loss at 2.00, with the initial take-profit target set near EMA25 (2.2978).
Other Considerations
• Pay attention to market news (such as XRP lawsuits or cryptocurrency policies), as such news may bring significant volatility.
• Control position sizes to avoid excessive losses due to sharp price fluctuations.
If there are further needs or if trading plans need to be refined, feel free to discuss again!