Bitcoin has experienced a sharp sale, and prices have fallen from $82,000 to $59,000, and efforts are under way to stabilize. Despite a recent breakthrough of $64,000 in bitcoin, the overall technological structure remains negative. The buyer intervened strongly in the support area between US$ 58,000 and US$ 60,000, avoiding further decline and creating a series of higher lows. The relative strength and weakness index (RSI) has recovered to over 50, indicating a gradual improvement in kinetic energy. However, Bitcoin still faces resistance of US$ 64,800 on the 50-day average, which may close to US$ 68,000 to US$ 70,000.
Dog coins are still traded under strong bear market pressure at a current price of close to $0.073, with little sign of long-term recovery. The chart shows that the dog currency is in the downward trend of several months, with an average of approximately $0.084 per day, an average of $0.091 per day for 100 days, an average of more than $0.006 per day for 200 days, and DOGE still below all major moving averages. Although RSI is close to 35, showing signs of overselling, market sentiment remains unstable.
Chai canine coins are still on a long-term downward trend, with current prices of $0.00.00043. The technical graphics show that SHIB has broken from the wedge to the lower stage. The 50-day mean line is still below all major moving average lines as an immediate drag. Despite repeated defence by the buyer in the vicinity of US$ 0.000040, each rebound failed to create a higher point, indicating a lack of confidence on the part of market participants.
Zcash, after a remarkable price increase, remains one of the best performers of the large mountain currency. ZEC is currently traded over all major moving average lines, showing a strong technical structure. The recent breakthrough of the 50- and 100-day average, at a price close to a critical resistance level of $540, could bring the ZEC closer to $600.