XRP's entire correction is not deep, belongs to a volatile downward shape, and the rebound strength during this period is also stronger. Yesterday's daily line has engulfed the previous day's bearish line, and we are currently undergoing a 4-hour level rebound, with a chance to exit the consolidation area first. However, the decrease in volume is also very obvious, and the height of the rebound may be limited.
Positions to pay attention to
Support position
First position 2.1-2.12
Second position 2
Third position 1.9-1.95
Resistance position
First position 2.234 (already tested once)
Second position 2.43-2.47
Third position 2.64
In trading, it's important to follow the trend, going with the big and against the small. When the trend comes, get on the windfall, and be flexible in turning from trend to counter-trend. Resisting the trend is like a mantis trying to stop a car, disrupting your mindset and trading rhythm.
Most of the time in the crypto market, price movements occur at night. Especially closely related to U.S. stocks, friends, remember to be quick in taking profits and decisive in cutting losses. Holding positions has no meaning.
If you have any interpretations of price movements for other cryptocurrencies or questions regarding trading, feel free to leave comments.
Personal opinion, please read rationally. Not investment advice.
If you think my analysis is helpful to you, please don't hesitate to like, follow, and comment.
Wishing you smooth trading. Thank you!
