XRPUSDT SHORT

Going into the week, I will be looking for the 60 cent level. As it is a crucial level for the bulls. Unless we see a strong reversal from that point, I anticipate a break of the support, and the main target would be around 56 cents. This scenario is backed by a bearish funding rate + the lack of buying in this area represented by CVD.

My other indicators suggest:
Order-Book: Bearish
Funding-Rate: Bearish
Open-Interest: Bearish
Long/Short Ratio: Bearish
CVD: Bearish

I hope you like this analysis and give a thumb for more content.

Note

First Target reached. Let's see what happens at this crucial level.

Note

Slight bounce from the 60 cent level with little volume. I expect a break of the 60 cent level with TP2 as the next crucial level to look for.

Note

TP2 reached - I expect to see further downside this week.

alex_brunner

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alex_brunner