Today's Market Analysis
Recently, the K-line has shown a significant downward trend, with the sharp pullback on December 19 and 18 being particularly notable, resulting in a series of consecutive bearish candles on the daily chart.
From the hourly perspective, the MACD indicator is in the negative range, with both the DIF line and DEA line diverging downwards, indicating that the bearish sentiment is dominant.
The RSI indicator is hovering around 30, nearing the oversold area, but no strong rebound signals have yet appeared, and further downward risks still need to be guarded against.
Currently, the price is below the EMA7 moving average and is gradually approaching the EMA30 moving average, making it highly likely that there will be a resistance test at the EMA30 moving average in the short term.
Suggested Operation Range
There is short-term support around 94500, where one can place short-term long positions, targeting a price level of 96000.
Around 98800 constitutes a resistance level, where one can enter short positions, targeting a price level of 95000.
If you want to delve deeper into the cryptocurrency space but can't find a direction, and want to quickly understand the information gap, whether it's contracts or spot trading, you can 👉 learn more in my profile