The Foreign Media Market Review stated that short-line repair of the encryption market continued after the return in June. Bitcoin and Etherport are back on some of the short- and medium-term averages, and SHIB has a small rebound after a continuous weakness, but none of them is completely out of pressure.
First look at the bitcoin, $68,000.
According to the article, Bitcoin currently operates around $6.46 million and the price structure has improved over previous weeks. After a previous fall of $60,000, the buy-back flow gradually led to a higher low point on the face and a slow rebound, but also closer to a steady recovery.
From the technical position, the 50- and 100-day mean lines have been converted to short-line support, approximately $6.37 million and $6.31 million. According to the review, this meant that the bitcoin short-line outlay was significantly lower than in June, and the market was recovering from the pre-centralized deleveraging phase.
The next area of greater resistance is around $68,000, close to the 200-day average. According to the article, Bitcoin continues to explore the area as long as the current support is not broken again.
ETH Approaching Critical Pressure before $2,000
After approaching a low-level rebound of $1550, the Ether factory returned to the vicinity of $1870. According to the article, ETH formed a series of higher and lower points in July, and the 50- and 100-day mean lines were re-supported, showing that the short-line purchase drive had increased over the previous period.
However, the more critical test remains ahead. It was noted that ETH was testing a 200-day mean line near approximately $1936, a position that had constituted repression on several occasions over time. The next step in the market will be easier to look at at at the 2000-dollar integer level if it can stand.
It is also mentioned that the relative strength and weakness of ETH has risen to about 60, and that it has not yet reached the heat zone, indicating an improvement in demand, but that if the current region is blocked, prices could be supported by up to $1,800.
SHIB has a limited rebound.
BTC and ETH, SHIB are weaker than repair. According to the article, the last trading day of SHIB increased by about 1.7 per cent, with prices returning to the vicinity of $0.0000114. This rebound is more like a slowdown in the fall than a new round of strong buys.
On graphics, SHIB is still below the main average, with an average of 50 days around $0.0000118 and, above that, $0.0000120 with resistance. According to the review, only a breakthrough in the region could be seen as a phased improvement; if the current support is not maintained, the price may again be measured back at the July low.
Overall, the review judged that mainstream currency short-line sentiment had been repaired in June, but that $68,000 in bitcoin, $2,000 in the Ethera, and sHIB's suffocation remained the main observation point as to whether the market could continue to rebound.