Trend Analysis: Technical Data Support
1. Daily Level Observation
Moving Average System (MA): The 7-day moving average (MA7) is currently at 2.28, and the 30-day moving average (MA30) is at 2.25. The K-line closed below the 7-day moving average support yesterday, indicating strong short-term bearish forces and a weak short-term trend.
Long-term Moving Average Resistance (MA100): The 100-day moving average is at 2.33, forming a strong resistance area above.
K-line Pattern: The K-line had a long upper shadow (high of 2.34) yesterday, indicating that the bulls are weak and the bearish forces are strengthening. If it breaks below the support level of 2.25 today, it may trigger further adjustments.
MACD Indicator:
DIF and DEA are running below the zero axis, and the current convergence state shows that bearish forces have weakened.
The bearish momentum bars are shortening, indicating a demand for a rebound in the market, but the rebound space is limited, and no obvious reversal signal has formed yet.
Technical Indicator Support
1. ATR Indicator (Volatility):
The current ATR value is 0.037, indicating that the daily fluctuation range of XRP is still within 300-500 points. In a short-term oscillating pattern, the upper and lower Bollinger Bands become key support and resistance areas.
2. Volume Observation:
Yesterday's trading volume decreased, reflecting a lowered willingness to trade by both bulls and bears, which may lead to a market reversal. If the price breaks below 2.25 today, bearish sentiment may further release, triggering a larger adjustment.
3. KDJ Indicator:
The K value and D value are around 40, currently running bearish, but the J value (22) is close to the oversold area, indicating that there may be a technical rebound demand in the short term; attention should be paid to the effectiveness of the 2.25 support.
2. 4-hour Level Observation
Moving Average System (MA): The short-term price is running below the 30-hour moving average (MA30: 2.29), with significant pressure above, and MA30 and MA100 forming a bearish arrangement, indicating a clear short-term downtrend.
Bollinger Bands: The price is blocked near the middle track of the Bollinger Bands (2.29) and has failed multiple attempts to break through; the support level near the lower track (2.26) has become a key area for bulls and bears to contend. The contraction of the Bollinger Bands indicates intensified short-term fluctuations and a possibility of a market reversal.
RSI Indicator: The current RSI value is 45, in a neutral and slightly weak range, indicating that short-term bearish forces have a slight advantage, but approaching the oversold range requires vigilance for a technical rebound.
Trading Volume: Yesterday's trading volume was low, indicating cautious market sentiment. If the price breaks below 2.25 today, bearish sentiment may further release.
Today's Operation Suggestion
Short Selling Strategy
Entry Range: 2.29 - 2.31
First Take Profit Level: 2.27
Second Take Profit Level: 2.25
Stop Loss Level: 2.33
Mainly Bearish Operations: The bulls were weak yesterday, and the upper shadow line and the drop below the 7-day moving average indicate that the short-term market remains bearish. Today, attention should be paid to whether the support at 2.25 is effective; if it breaks below this point, it may further explore 2.22.
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