Signal for Long and Short Positions
Long Position: $XRP /USDT has shown strong bullish momentum, breaking above $2.80 with a 21.14% increase. If the price holds above $2.80, further upside is possible.
Short Position: A pullback is evident with a rejection near $2.9092. If XRP fails to reclaim this level and drops below $2.80, it could indicate a shorting opportunity toward lower support levels.
Support and Resistance Levels
Immediate Support: $2.6366
Key Support Zone: $2.5102 (previous low)
Immediate Resistance: $2.9092 (24-hour high)
Key Resistance Zone: $3.00 (psychological barrier)
Market Insights
Volume Analysis: The volume surge indicates strong buying interest, but the red candle suggests sellers are stepping in at higher levels.
MACD: The MACD shows bullish momentum with the histogram turning positive. However, divergence could be monitored for signs of weakening momentum.
Moving Averages (MA):
MA(5) at $2.80 indicates short-term momentum aligning with current levels.
MA(10) at $2.64 suggests medium-term support is in play.
Conclusion
Watch for price action around $2.80 to determine if bullish momentum persists.
If resistance at $2.9092 breaks, a long position targeting $3.00 is viable.
If price falls below $2.80, a short position toward $2.6366 or $2.5102 may be considered.
Continuously monitor volume and MACD signals for confirmation of trend strength.