A consolidation phaseXRP / TetherUSBINANCE:XRPUSDThilmiyus1. Market Overview Current Price: $2.1307 Trend Status: The market is currently in a consolidation phase (confirmed by the status panel in the bottom right) following a correction from the local high (LH). Immediate Sentiment: Short-term bearish to neutral, attempting to find a floor at the support zone. 2. Key Support and Resistance Levels Support (The Floor): Primary Support ($2.02 - $2.06): The price recently wicked down to $2.0244 (marked as the 0 Fib level) and bounced. This area is reinforced by the top of the Green Order Block (Bu-OB) and the Daily Support line D(S). Deep Support ($1.90): Below the current structure, there is a Weekly Support W(S) level at $1.9083. If the current low fails, this is the next major magnet for price. Resistance (The Ceiling): Immediate Resistance ($2.17 - $2.18): The price is currently struggling against the Kijun-Sen (Red Line) at $2.1771 and the 0.236 Fibonacci level at $2.1833. Trendline Resistance: There is a steep red descending trendline connecting the recent lower highs. A breakout above this diagonal line is required to shift momentum. Major Resistance ($2.36): The 0.5 Fibonacci level at $2.3610 coincides with the Tenkan-Sen (Blue Line). This is a "confluence zone" where multiple resistance factors meet. 3. Indicator Analysis Fibonacci Retracement: The chart uses a retracement drawn from the recent low ($2.02) to the previous high ($2.69). The price is currently trading below the 0.236 level, indicating that buyers are still weak. To validate a reversal, bulls need to reclaim the 0.382 level ($2.28). Ichimoku Cloud: Tenkan vs. Kijun: The Tenkan-Sen (Blue) is above the price, and the Kijun-Sen (Red) is flat. The price is below both, which is generally a bearish signal for the short term. Cloud (Kumo): The price appears to be interacting with the top of the green cloud. If the price stays above the green cloud, the long-term trend remains bullish. 4. The Projected Path (Red Zigzag Line) The forecast path (the thick red line) anticipates a breakout above the descending trendline. Target: It projects a rally towards the 1.5 Fib Extension ($3.03) and potentially the 1.618 Extension ($3.11). Validity: For this path to play out, XRP must close a daily candle above $2.18 (breaking the immediate resistance) and subsequently $2.36 (breaking market structure). Summary & Strategy Bullish Scenario: Watch for a daily close above $2.1833. If this happens, the next target is the $2.36 region. The "Golden Pocket" (0.618 Fib) at $2.44 would be the confirmation zone for a return to the highs. Bearish Scenario: If the price gets rejected at the Kijun-Sen ($2.1771) and fails to hold the recent low of $2.02, expect a drop into the deep green support zone around $1.90.