$XRP
/USDT Technical Analysis and Trade Strategy馃幆馃殌
Technical Indicators Overview
1. Current Price: $2.4853
2. Bollinger Bands (20, 2):
Upper Band (Resistance 1): $2.8223
Middle Band (Pivot): $2.6471
Lower Band (Support 1): $2.4719
3. Parabolic SAR: $2.8517 (Bearish)
4. Trend Analysis:
Current price is below the Middle Band and SAR, indicating a bearish bias, but the proximity to the Lower Band suggests a potential reversal if buying pressure increases.
Trade Strategy
Entry Point
Long Position: Enter at $2.50 - $2.55 if price stabilizes near the Lower Bollinger Band and shows a bullish candlestick pattern (e.g., hammer or engulfing).
Targets 馃幆
1. Target 1 (T1): $2.65 (Middle Bollinger Band and pivot zone)
Expect moderate resistance. Consider partial profit booking here.
2. Target 2 (T2): $2.82 (Upper Bollinger Band)
Strong resistance zone. Exit 50-70% of the position if price reaches this level.
3. Target 3 (T3): $2.90 (Recent high)
Aggressive target; suitable if momentum and volume increase significantly.
Stop Loss
Set at $2.25 (Below the 24h Low) to limit downside risk.
Risk Management
Risk-to-Reward Ratio (RRR): Aim for at least 1:2 (risk $0.25 to earn $0.50 or more).
Allocate no more than 2-5% of your capital to this trade.