As market volatility increases, cryptocurrency investors need to pay close attention to short-term market trends. This article will analyze the price trends of TON, SOL and XRP from a technical analysis perspective and provide investors with professional buying and selling strategies.
TON (The Open Network) - short-term upward momentum is clear
Price trend: Up
Key buying points:
Buy point 1: 6.40 USDT. The current price is close to EMA(7) and above EMA(30), indicating a positive short-term trend. This point is suitable for conservative investors.
Buy point 2: 6.20 USDT. This price is close to the recent low. If the price falls back to this point, it may be supported and is suitable for aggressive investors.
Key selling points:
Selling point 1: 6.54 USDT. Close to the high point in the recent cycle, it is expected to encounter initial resistance.
Selling point 2: 6.60 USDT. Breaking through this price may open up a new round of upside potential, which is suitable as a more aggressive selling target.
Short stop loss point: 6.65 USDT. This price is higher than the second selling point, providing a safety buffer for short selling operations.
Technical Analysis:
K-line pattern: The recent K-line shows that price fluctuations have intensified. There was a significant price gap between 18:00 on August 8 and 14:00 on August 9, and the market sentiment was intense. After the continuous rise from 21:00 on August 7 to 13:00 on August 8, the long upper shadow at 14:00 on August 8 showed that the high selling pressure increased.
Technical indicators: MACD indicator shows positive value and DIF is higher than DEA, but the histogram is shrinking, and the bullish force may be weakened. KDJ indicator shows that the J value is close to 100, indicating overbought risk. EMA indicator shows that the price continues to be above EMA (7) in the short term, and the medium and long-term trend is bullish.
Trading volume: When prices rise sharply, trading volume increases. Recently, trading volume has declined, indicating that the wait-and-see sentiment of buyers and sellers has increased.
SOL（Solana）—— Bullish trend remains strong
Price trend: Up
Key buying points:
Buy point 1: 156.50 USDT. Close to the 30-period EMA support, indicating that bullish sentiment still exists in the medium and long term.
Buy point 2: 154.00 USDT. This price is close to the low point of 07:00 on August 8, which may form a strong support point.
Key selling points:
Sell point 1: 160.00 USDT. Close to the recent high, a breakthrough may attract more buyers to push up the price.
Selling point 2: 163.00 USDT. Close to the high point of 07:00 on August 9, if the price rises to this point, it may encounter selling pressure.
Short stop loss point: 165.00 USDT. Higher than the second selling point, providing additional space for shorting operations.
Technical Analysis:
K-line pattern: After the long Yang line at 07:00 on August 9, there appeared a small real body and alternating upper and lower shadows, indicating that the market is controversial. The price gap-up from 08:00 on August 8 to 09:00 on August 8 may be driven by market news.
Technical indicators: MACD indicator shows a negative value (-0.884), DIF is lower than DEA, and the bearish momentum remains in the short term. However, the histogram rebounds, suggesting a potential reversal. KDJ indicator shows that the trend has improved in the short term. EMA indicator shows that the current price is above EMA (7) and EMA (30), and the medium- and short-term trend is bullish.
Trading volume: The peak trading volume from 21:00 to 22:00 on August 8 shows strong selling power. The trading volume has been stable recently, and the market activity is average.
XRP (Ripple) - Potential Opportunities in Sideways Trading
Price trend: Sideways
Key buying points:
Buy point 1: 0.600 USDT. Near the intersection of EMA (7) and EMA (30), short-term support is strong.
Buy point 2: 0.590 USDT. The low point area from 07:00 to 09:00 on August 8, the callback to this point may be supported.
Key selling points:
Selling point 1: 0.610 USDT. A resistance level that has not been broken recently.
Selling point 2: 0.620 USDT. The high point area from 02:00 to 03:00 on August 9. If the price rises to this point, it may encounter selling pressure.
Short stop loss point: 0.630 USDT. Higher than the second selling point, providing a buffer for shorting operations.
Technical Analysis:
K-line pattern: The price fluctuated greatly between 04:00 and 05:00 on August 8, indicating that there is great uncertainty in the market. Recently, the K-line entity has shortened, and the upper and lower shadow lines have different lengths. Market participants have a significant wait-and-see mood.
Technical indicators: MACD indicator shows that there may be downward pressure in the short term. KDJ indicator shows the risk of callback. EMA (7) is above EMA (30), but the gap is narrowing, so we need to be vigilant about trend reversal.
Volume: Trading volume increases significantly when prices fluctuate, and recent trading volume has decreased, indicating a decrease in market activity.
Summarize
Market sentiment and technical indicators jointly influence the short-term trend of cryptocurrencies. TON and SOL currently show the potential for an upward trend, while XRP is in a sideways trend. Investors should reasonably adjust their buying and selling strategies according to their own risk preferences, pay attention to market dynamics, and ensure that they maintain their advantages in a volatile market.
I have been working in the cryptocurrency industry for many years and I know how precious and ever-changing market opportunities are. In order to help you seize every opportunity in the ever-changing market, I will continue to provide you with the latest market analysis and professional trading strategies.
