1. Price forecast (short-term, medium-term)
• Short-term forecast: The chart shows that the price is in the accumulation zone near the $0.60 level. A breakout of this level upwards could lead to a rapid rise to the nearest resistance at $0.70. However, if the $0.60 level is not broken, a rollback to support in the $0.55 area is possible.
• Medium-term forecast: If the price consolidates above $0.70, the next significant resistance level is in the $0.85-$0.95 zone. If this level is broken, we can expect movement to $1.00 and higher.
2. Support and resistance levels
• Support:
o $0.55 is an important support level from which a rollback is possible in the event of a negative scenario.
o $0.50 - the next support level in case of a breakthrough of $0.55.
• Resistance:
o $0.70 - the nearest resistance in the short term.
o $0.85-$0.95 - an important resistance zone in the medium term.
o $1.00 - psychological resistance level.
3. Entry, exit, stop loss points for LONG positions
• Entry point: 🟢LONG is recommended upon breaking through the $0.60 level with confirmation of volume and consolidation above.
• Exit point: First target - $0.70, second target - $0.85-$0.95.
• Stop Loss: Place below $0.55 to limit losses in case of negative developments.
4. Entry, exit, stop loss points for SHORT positions
• Entry point: 🛑SHORT is recommended upon breakout and consolidation below $0.55.
• Exit point: First target - $0.50, second target - $0.45.
• Stop Loss: Place above $0.60 to protect against unexpected price increase.
5. LONG and SHORT scenarios with probability assessment
• 🟢LONG scenario:
o Probability of implementation: 60%.
o Conditions: Successful breakout and consolidation above $0.60 with volume confirmation.
• 🛑SHORT scenario:
o Probability of implementation: 40%.
o Conditions: Breakout and consolidation below $0.55 while downward pressure continues.
Technical indicators (influence on price):
• LiquidationHeatMap Liquidation Levels: Indicators indicate possible liquidations in the event of a strong price move in either direction.
• Volume: Low volume may make it difficult to break through key levels, while an increase in volume on a break of the $0.60 level will be a confirming signal for a LONG position.
• Anchored Volume Profile: Indicates the accumulation zone in the current range.
• Ichimoku Cloud: The price is at the border of the cloud, a breakout of the cloud can give a strong signal for further movement.
• Parabolic SAR: The readings indicate a possible trend reversal.
• EMA: EMA moving averages are showing neutral conditions but a bullish crossover is possible.
• YK Round Levels: The $0.60 level is a key level within the round levels.
• RSI: Is in the neutral zone, but the trend is downward, which may indicate a lack of momentum for a strong upward move.
⚠️General conclusion
The current situation for XRP indicates the need for caution. The price is at key support and resistance levels, which can determine the further direction of movement. The LONG scenario looks more preferable, provided that $0.60 is broken and the volume is confirmed. However, in case of a downward breakout of $0.55, a SHORT scenario can be considered.
Recommendation: The current situation requires careful monitoring of market dynamics and reactions to key levels. Subscribe to stay up to date with the latest news! 🔔💰➡️🌀@INVESTIDEAUA
