This article presents an analysis of the current prices of Litecoin (LTC), NEAR, and XRP. We will review support levels, potential strategies for investors, and the current market situation.
LTC Analysis
LTC has found strong support at $76.11 and rebounded to $85.4, achieving a single-day increase of 5.88%. However, this rebound was halted near the Fibonacci 0.5 level, coinciding with a trading-intensive area.
Currently, LTC is temporarily reported at $84.8. Investors may consider entering the market at this price for short selling, with profit-taking targets set at $74, corresponding to the Fibonacci 1.13 level, followed by targets at $71.3 and $68. The stop-loss price should be determined based on individual risk tolerance, with a maximum of $89.
NEAR Analysis
NEAR dropped to $1.79 before staging a strong rebound. The price rose alongside the broader market but faced resistance at $2.147. A break below its previous low and the failure to surpass its previous high indicate a bearish signal.
Currently, NEAR stands at $2.13. Investors may opt to enter the market at this price for short selling, with profit-taking levels set at $1.8, $1.55, and $1.4. The stop-loss should be adjusted according to individual risk tolerance, with potential levels at $2.26 or $2.39.
XRP Analysis
XRP's price action has formed a head-and-shoulders top pattern, one of the most reliable bearish formations. After breaking below the neckline on the 21st, the price continued its decline, finding support near $1.91 and subsequently rebounding. However, it faced resistance near the neckline and a trading-intensive area.
This rebound can be viewed as a retest of the upper resistance level, presenting an opportunity for investors to enter a short position. Profit-taking targets can be set at $1.82 and $1.65. The stop-loss should be determined based on individual risk tolerance, with options at $2.26 or $2.34.
As of now, the cryptocurrency market shows varying trends depending on specific coins. Investors should carefully consider support and resistance levels for developing their trading strategies.
