XRP Liquidations Drop Significantly, Market Stabilizes
- Decline in Liquidations: Data from CryptoQuant indicates a steady reduction in total XRP liquidations over the past 30 days, with long liquidations reaching approximately $39.8 million while short liquidations were significantly lower at around $19.7 million, highlighting ongoing pressure on bullish traders.
- Decrease in Leverage: The notable drop in leverage usage across the XRP market suggests that traders are stepping back from high-risk strategies, significantly lowering the chances of sudden liquidation cascades, which helps stabilize prices and reduce volatility.
- Cautious Market Sentiment: The 30-day cumulative funding rate remains slightly negative at around -0.000007, indicating that traders are still positioning defensively despite an overall decline in market activity, reflecting a cautious outlook on short-term price increases.
- Consolidation Phase Indicators: The dominance of long liquidations signals structural weaknesses in the market, as bullish traders face pressure during recovery attempts, suggesting that price action may remain contained within a narrow range as buyers and sellers reach temporary equilibrium.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 0 indicators are flashing buy, while 6 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 | 0.0566 | 0.0584 | 0.0603 | 0.062 | 0.0639 | 0.0657 | 0.0675 |
| Fibonacci | 0.0584 | 0.0598 | 0.0607 | 0.062 | 0.0634 | 0.0643 | 0.0657 |
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