$XRP 12/10 Midday Analysis
Technical Analysis Update
1. Price Movement
• Current price is 2.1498 USDT. Although the decline is still at -13.01%, there have been certain signs of rebound recently.
• The price has touched the short-term support at 2.01 USDT and has stabilized and rebounded in this range, indicating that this support level still holds some strength.
2. Increase in Trading Volume
• Trading volume has significantly increased, especially during the rebound process, showing that funds are entering the market, and bullish forces are starting to attempt intervention.
3. EMA Moving Average Situation
• The short-term moving average (EMA7) and the medium-term moving average (EMA25) are still declining, indicating that the larger trend has not completely reversed.
• However, after the rebound, the price is close to the short-term moving average. If it can break through EMA7 (2.2147 USDT), it may further test higher resistance levels.
4. MACD Indicator
• The MACD indicator is still in the negative zone but shows a converging upward trend, indicating that the downward momentum is weakening and there may be room for a short-term rebound.
Operational Suggestions
1. Short-term Operations
• Entry Point: If the price breaks through 2.22 USDT (EMA7 position), a light long position can be pursued.
• Stop Loss Point: It is advisable to set it below 2.01 USDT to control risk.
• Target Level: The short-term target can be around 2.30 USDT, with further rebounds testing 2.40 USDT.
2. Wait-and-see Strategy
• If the short-term moving average (EMA7) cannot be broken, it may fall back again to 2.01 USDT, which is a lower-risk entry zone.
• If the price falls below 2.00 USDT, it is advisable to temporarily wait and see to avoid further downside risk.
3. Long-term Layout
• If you believe in the long-term value of XRP, you can accumulate in batches around 2.01 USDT to 2.10 USDT, patiently waiting for the market to warm up.
Risk Warning
• The market is currently still dominated by bears, and the short-term rebound may only be a correction, so excessive optimism is not advisable.
• Price volatility is significant, and it is recommended to strictly implement stop-loss strategies to avoid losses caused by emotional trading.
Choose a suitable strategy according to your trading style and keep an eye on market trend changes at all times!
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