XRP/USDT Bullish Breakout Anticipatio XRP/USDT Bullish Breakout Anticipation 🚀
Technical Analysis:
The chart illustrates a potential bullish setup for XRP/USDT based on price structure, support/resistance levels, and harmonic movements.
🔍 Key Observations:
Rejection From Major Support Zone (1.95 - 2.00):
Price previously tested a strong demand zone (marked as “SUPPORT”) and showed significant rejection with bullish candlestick momentum.
Series of Higher Lows ✅:
The price structure shows consecutive higher lows (green arrows), indicating rising buying pressure and bullish intent.
Break of Intermediate Resistance (2.15 - 2.18):
A breakout from the neckline area confirms bullish continuation. Price is currently retesting this level, turning resistance into support.
Target Zone at 2.35 - 2.36 🟦:
A clean target area marked by historical resistance and previous high (red arrow).
Projection indicates a possible move toward 2.3512 USDT, aligning with the measured move from the breakout structure.
Bullish Harmonic Pattern Completion 🔼:
The chart also displays a harmonic pattern completion near the recent low, suggesting a reversal point aligning with market reaction.
🎯 Trading Plan:
Entry Zone: Current retest around 2.15 - 2.18 is favorable.
Target: 2.3512 (as per projection and prior resistance zone).
Invalidation: Break below 2.10 and especially under the key support (2.00) would invalidate the setup.
📌 XRP/USDT is showing bullish strength as long as it holds above the breakout level. A sustained move could trigger momentum towards the 2.35 target zone. 💪📊
