Today's technical analysis

1. Intraday trend characteristics (4-hour chart)

  1. Current price position: XRP is currently trading around 2.2199, and the K-line has just risen above MA(7), but is still under pressure from MA(30) (2.2457) and MA(100) (2.3685).

  2. Short-term trend:

    • The price quickly fell back from the previous high of 2.7289, with the current low at 1.9001 forming significant support.

    • The current rebound strength is limited, and the price is still oscillating within a downward trend channel.

  3. MACD Indicator:

    • DIF and DEA are running below the zero axis, and the bearish momentum bars are gradually shrinking, but there is no clear golden cross signal, indicating a lack of momentum for the rebound.

  4. Bollinger Bands:

    • The middle line of the Bollinger Bands (around 2.25) forms short-term resistance, and the price is currently close to the lower band support area (around 2.15), with a short-term oscillation range of 2.15-2.25.

2. Review of yesterday's market

  • Yesterday's K-line was mainly characterized by a rise and then a fall, reaching 2.25 but failing to break through, and then retreating to around 2.20.

  • Overall, the market shows a weak pattern of rebound being blocked and oscillating downwards.

Operational suggestion: primarily short positions, supplemented by long positions.

Based on technical analysis, it is expected that XRP will maintain a bearish oscillation pattern today, with the short-term range likely fluctuating between 2.15 and 2.25. The following are specific operational suggestions:

1. Short position operation

  • Entry range: 2.235-2.250 (close to MA(30) and the middle line of the Bollinger Bands resistance level)

  • First take profit level: 2.190 (near previous low support)

  • Second take profit level: 2.150 (close to the lower band of the Bollinger Bands)

  • Stop loss level: 2.265 (break above yesterday's high to prevent further upward movement)

2. Long position operation

  • Entry range: 2.150-2.160 (close to yesterday's low support)

  • First take profit level: 2.200 (midpoint of the previous oscillation range)

  • Second take profit level: 2.235 (near the middle line of the Bollinger Bands)

  • Stop loss level: 2.125 (break below important support to prevent significant downward movement)

Today's XRP trend is expected to continue the weak oscillation. In the short term, focus on the breakthrough conditions of the 2.15 support and 2.25 resistance. Before breaking through these key positions, it is recommended to primarily operate within a range, combining yesterday's trend and current technical indicators, with a priority on high short and low long strategies.

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