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🔥 Day 8 Hot Topic: XRP ETF Goes Live
REX-Osprey XRP ETF (XRPR) to Launch This Week! XRPR will be the first spot ETF tracking the performance of the world’s third-largest cryptocurrency, XRP, launched by REX-Osprey (also the team behind SSK). According to Bloomberg Senior ETF Analyst Eric Balchunas,
Today's ETH trading strategy:
Short strategy: Establish a short position near 4780, add to the position at 4850, and set a stop loss if it breaks and stabilizes above 5000. First take profit: 4630, second take profit: 4490.
Long strategy: Open a long position near 4550, add to the position at 4400, and set a stop loss if it breaks and holds below 4350. First take profit: 4630, second take profit: 4999.
From the 4-hour chart, ETH is currently in a one-sided upward phase, retracing without breaking the short-term moving averages, and the market continues to rise. The Bollinger Bands are opening, with the middle line moving upward, corresponding to the market's rise. The three lines of the Bollinger Bands correspond to prices 4445--4593--4740. From the 4-hour chart, the bullish volume is starting to gradually weaken. If it breaks below the short-term moving averages, a significant correction may occur. The MA moving average indicator on the 4-hour chart shows a one-sided upward trend, indicating that the market is entering an upward phase, with bullish volume gradually increasing. The short-term moving averages on the hourly chart are also in a one-sided upward trend, but the bullish volume is beginning to weaken. The market is currently operating above the short-term moving averages, corresponding to a continued rise, accompanied by some corrections. The MACD indicator on the hourly chart is in the upward phase above the 0 axis, with bullish volume starting to weaken, corresponding to a market pullback. On the 4-hour chart, there are double lines on the 0 axis trending upward, and bullish volume continues to increase, corresponding to a market rise. The RSI indicator is in the overbought phase with corresponding values of 100---99.5. Currently, the double lines are crossing and parallel, and the market is starting to fluctuate, possibly accompanied by some technical correction. However, continued upward movement could also lead to accelerated market rise.
Conclusion: High-level sideways fluctuations
Resistance: 4780, 4850, 4950
Support: 4660, 4550, 4480