Foreign media analysis indicated that, following the recent sharp fall in the encryption market, bitcoin had been clearly connected in the 61,000 to 63,000 United States dollars region, with prices rebounding to the vicinity of 66,000 United States dollars. According to the article, this is more of a post-smuggling repair than a starting point for a full-scale new round down.
Bitcoin focus 64 million versus $72,000
Bitcoin was mentioned to have quickly gone down to $60,000 after it had collapsed between $72,000 and $74,000 in support. The buy-in was followed by a recovery in prices. Quantities were mainly in the fall phase, indicating that they were accompanied by more passive silos and concentrated sales.
However, the article also states that bitcoin is still operating below the 50- and 100-day average, and that the original $72,000 support position has been converted to upper resistance. In contrast, the proximity of $64,000 became an important observation point as to whether short-term repairs could continue. RSI has recovered from the oversale area, indicating a decrease in the downscaling kinetic energy, but not yet sufficient to confirm a reversal of the trend.
It's a shallow retreat.
In several of the assets, the article found that the show was relatively stable. ETH lags between $2300 and $2,400, is supported in the vicinity of $1670 and begins to attempt to construct the foundations. Both the release of the pressure and the subsequent rebound phase were accompanied by a condensation, indicating that market participation remained high.
According to the text, the $1,800 is close to the first obvious resistance facing the Taifeng, corresponding to the 50-day mean line position. A higher set of resistance is concentrated in the 2000 to 2350-dollar area, consisting of 100 and 200-day averages. As long as the immediate lows are secured, there is still room for ETH to continue repairing up, but these critical points still need to be overcome if there is to be a clearer upward trend.
SHIB and XRP rebound still weak
The article is relatively cautious about SHIB. The SHIB fell to the vicinity of US$ 0.000044 earlier this month with a technical rebound but is still below the 50, 100 and 200-day average. It is stated that if we cannot re-establish the range of $0.00050 to $0.0000055, it will be difficult to reverse the overall vulnerability.
The movement of XRP is also described as limited repair. After failing to break the US$ 1.30, the asset fell around US$ 1.13 and then rebounded to US$ 1.20, but was unable to raise further. According to the article, the proximity of $1.20 is still short-line resistance, with a price or opportunity to test the $1.30 area once again if it can be effectively broken; if it continues to be blocked, it is likely that it will be maintained.