Technical Analysis of XRP/USDT
2024-12-13
Category: None

📊 Technical Analysis of XRP/USDT (Weekly Chart)
Key Highlights:
Long-term Ascending Channel:

The chart shows a strong upward ascending channel highlighted by blue lines. 📈
The lower boundary serves as strong support, and the upper boundary acts as a key resistance. 🔵
Support and Resistance Levels:

Resistance Zone: Between $2.6 and $1.9. 🟥
Support Zone: Around $0.96 and the lower boundary at $0.29. 🟩
600% Target:

A potential bullish target of around $6.54–$6.39 has been identified. 🚀✨
✅ Possible Price Movements:
The price has recently rejected near the resistance zone and may retrace toward $1.9. 🔄
If the support level at $0.96 holds, a bullish rebound toward the channel’s upper boundary and the $6.54 target could occur. 📈💹
Breaking below critical support (below $0.46) may lead the price toward the channel's bottom, near $0.29. ⚠️📉
🎯 Trading Strategy Suggestion:
Buy Entry: Near key supports like $0.96. 🟢
Stop Loss: Below the channel’s lower boundary or $0.46. ⛔️
Take Profit: Around $3.0, $6.54, or the channel’s upper boundary. 🏆
🛑 Important Note:
This analysis is for informational purposes only. Always perform further research and apply proper risk management before making financial decisions. ⚠️





