EGRAG Crypto: XRP May Revisit Key Support Before Major Rally
- Historical Warning: EGRAG Crypto highlights that XRP has historically fallen below the 50-month EMA, often continuing down to the 100-month EMA, suggesting that the current market structure may indicate another liquidity sweep, impacting investor confidence.
- Support Range Analysis: XRP is currently trading near the $1.10 support level, but the analyst warns that if selling pressure persists, it could drop to a lower range between $0.70 and $0.90, which may help establish a stronger foundation for future growth.
- Gradual Investment Strategy: Despite the potential for further downside, EGRAG Crypto continues to accumulate XRP through a dollar-cost averaging strategy, arguing that trying to pinpoint the exact market bottom often hinders investors from building meaningful positions during broader market cycles.
- Long-Term Outlook Remains Bullish: While a deeper correction may occur, the analyst's long-term outlook remains optimistic, projecting future targets near $7, $8, $13, and even $27 if XRP completes its current cycle structure, indicating strong growth potential ahead.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 10 technical signals, shows that 6 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0194 | 0.0278 | 0.035 | 0.0434 | 0.0506 | 0.059 | 0.0662 |
| Fibonacci | 0.0278 | 0.0338 | 0.0375 | 0.0434 | 0.0494 | 0.0531 | 0.059 |
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