XRP / USDTShort
XRP/USDT 1H: Bears in Control – Next Stop $2.50?
XRP/USDT 1H Chart Analysis
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Market Condition:
Key Levels:
Smart Money Analysis:
Trade Setup (Short Bias):
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Market Condition:
- Price: $2.608, showing bearish momentum after breaking previous support.
- Market Structure: Clear lower highs and lower lows, confirming a bearish trend.
- RSI: 34.11, oversold but no clear bullish divergence yet.
Key Levels:
- Resistance: $2.90 (previous support now resistance).
- Support: $2.50 (psychological level).
- Premium Zone: $3.10 - $3.15.
Smart Money Analysis:
- Market Makers in Distribution Phase, pushing price lower.
- Heavy Selling Pressure with clear institutional footprints.
- Confidence Level: 8/10 for short setup.
Trade Setup (Short Bias):
- Entry: $2.65 - $2.70 on relief bounce.
- Targets:
- T1: $2.50.
- T2: $2.35.
- Stop Loss: $2.85 (above recent swing high).
- Risk Score: 7/10 (Favorable R:R).
- Wait for a relief bounce to $2.65 - $2.70 before shorting.
- Market structure suggests further downside likely.
- If price breaks $2.50, expect increased momentum downward.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.