XRP/USD Bearish Reversal Setup – H1 Chart 🕐
Analysis:
Entry Point: Price entered a short zone near 2.21828, which aligns with a previous resistance zone.
Bearish Rejection: The price formed a rejection wick and bearish candle at the resistance, signaling a potential reversal.
EMA Confluence: The price is testing below the red 50 EMA, and the 200 EMA (blue) is acting as dynamic support.
Support Zone Retest: The recent price pullback suggests a possible retest of the small support zone around 2.19106.
Target: The projected downside target is 2.06869, aligned with the prior demand zone.
Stop Loss: Positioned above resistance at 2.21828, just outside the upper rejection area.
📌 Summary:
Trend Bias: Bearish
Entry: Around 2.21828
Target: 2.06869 (≈ -6.67%)
Stop Loss: Above 2.21828
Analysis:
Entry Point: Price entered a short zone near 2.21828, which aligns with a previous resistance zone.
Bearish Rejection: The price formed a rejection wick and bearish candle at the resistance, signaling a potential reversal.
EMA Confluence: The price is testing below the red 50 EMA, and the 200 EMA (blue) is acting as dynamic support.
Support Zone Retest: The recent price pullback suggests a possible retest of the small support zone around 2.19106.
Target: The projected downside target is 2.06869, aligned with the prior demand zone.
Stop Loss: Positioned above resistance at 2.21828, just outside the upper rejection area.
📌 Summary:
Trend Bias: Bearish
Entry: Around 2.21828
Target: 2.06869 (≈ -6.67%)
Stop Loss: Above 2.21828
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Join my refrel broker link
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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.