Recently, XRP has continued to decline, with prices falling below the $2.9 mark, and market sentiment is low. A 3-minute breakdown of key signals to teach you how to respond 👇
🔍 Trend analysis: Bears control the field, difficult to turn around in the short term
1️⃣ K-line formation: fluctuating downwards
Downward trend: Prices have dropped from 3.0479 all the way back to 2.9067, with bears clearly dominant in the short term.
Long bearish line warning: The long bearish line on February 1 shows strong selling pressure, with bulls having no power to counterattack!
2️⃣ Technical indicators: Bears are converging but have not reversed
MACD signal: Hourly chart MACD is below the zero axis, both DIF and DEA are negative, bears control the field, green bars are shortening, a weak rebound may occur in the short term.
RSI approaching oversold: current value close to 30, nearing the oversold zone, there may be technical rebound demand, but the strength is questionable!
EMA signal: short-term EMA (30) below long-term EMA (120, 200), clear bear arrangement, price struggling below EMA30, limited short-term rebound space!
3️⃣ Trading volume hides secrets
Selling pressure released: trading volume surged on February 1 and then fell back, indicating that after the selling pressure was released, the market entered a wait-and-see state.
Overall sluggish: current trading volume is stable, market participation is low, and significant trends are hard to come by!
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🎯 Operation strategy: sell high and buy low, keep an eye on key positions!
📌 Buy point
First strike: 2.85 USDT (previous low + integer support level, light position trial long)
Second strike: 2.80 USDT (stronger integer support level, higher risk-reward ratio, but beware of breakout risks)
🛑 Long position discipline: decisively stop loss if it breaks 2.75 USDT, don't go against the trend!
📌 Sell point
First target: 3.00 USDT (integer resistance level + resistance near EMA30, suggested to reduce positions here)
Second target: 3.05 USDT (previous high resistance level, low probability of breakthrough, if it truly reaches this point, decisively liquidate!)
🛑 Short selling stop-loss: admit defeat and exit if it breaks 3.10 USDT to prevent being 'closed the door and beaten' by bulls!
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⚠️ Risk warning
Heat is declining: ranking has dropped to 7th place, market attention is decreasing, and liquidity may further shrink!
The bear market is not over: MACD + EMA dual pressure, rebounds are just opportunities to escape, don't be greedy!
Trading volume is sluggish: market participation is low, big funds may still be on the sidelines, and significant unilateral trends are hard to come by!
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Summary: Short-term bearish, lightly test long near 2.85, gradually exit above 3.00! Remember, in a weak market, it's better to miss out than to make a mistake, strictly stop loss on breakouts!
(Strategy for reference only, the market is risky, all-in may lead to liquidation!)