3.18 Morning Analysis

From the 1-hour timeframe perspective, the price is facing pressure and pulling back near the upper Bollinger Band at 74759, with a long bearish candle breaking down through the MA7 moving average directly from the highs, indicating that bullish momentum has clearly weakened. The MA7 and MA30 moving averages are about to form a death cross, with clear short-term trend weakening signals, and the 74400-74500 zone above has formed strong resistance. Combined with the Bollinger Band mouth narrowing and price approaching the midline pattern, bearish forces have taken the advantage. Support below is first seen at 74200, and if broken effectively, the price will further probe toward the lower Bollinger Band near 73553. Overall, the short-term trend is biased bearish, and it is recommended to focus on short positions, paying close attention to the pressure situation at resistance levels above.

Trading Suggestion: Short 74800-75300, Target 72800-72300. $XRP $GT