$XRP
The market resembles a ship slowly sinking.. the downtrend is mercilessly dominant, and the three moving averages (7-day, 25-day, 99-day) form an iron ceiling above the price, seemingly suffocating any hope of an upturn. The MACD indicator screams danger: its lines are below zero, and its bearish crossover confirms that selling momentum is intensifying.
But in the darkness, there's one candle: the RSI indicator at 34.57 warns of overselling... this might trigger a quick bounce, pushing the price towards 2.28-2.29, but beware! This bounce is just a trap for buyers.
You face two critical levels:
* 2.2380 is the last line of defense... if broken, the ship will sink towards 2.20 and even 2.18.
* 2.3125 is the only rescue key, but an ascent to it is impossible without a liquidity miracle.
Within 24 hours, you might see a green candle rise to 2.28 as a technical retracement... but it will be a signal to sell, not buy. In the coming week, a break below 2.2380 is the most likely scenario (80% probability), and it will open the door to a harsh decline.
* Do not touch buying unless the price touches 2.23, and set your stop-loss at 2.22.
* Sell every rally towards 2.28-2.29, and take your profits at 2.24.
* For long-term portfolios: wait for the fall to 2.18 or the miraculous break above 2.31... the former is more likely.
> "This is technical analysis and not financial advice."
>
One last word? The current is strongly bearish, and the bull needs a rocket to save the situation.
