Tons of cryptocurrency in Telegram
According to Coindesk Research’s technical analysis model, there is a huge downward pressure in the short term.
The token fell 4.67% intraday in the high batch (3.65 million) to as low as $3.15, although recent price action shows that new resistance has caused a moderate recovery attempt at lows of $3.24.
Tokens have dropped by 3% in the past 24 hours. Coindesk 20 (through market cap, excluding the top 20 cryptocurrency index of Stablecoins, Memecoins and Exchange Coins) lost 3.2%.
Technical Analysis
• The key support zone has established around $3.15 to $3.16, confirmed by above-average trading volume.
• The highest price decline occurred intraday declines of 4.67% of an unusually high volume (3.65 million), indicating a lot of sales pressure.
•Resistance is $3.24, although the overall trend remains bearish and has established a lower high throughout the period.
•The recovery pattern observed in the last hour climbed from $3.19 to $3.20, up 0.4%.
•The sharp sold saw price fell to $3.18 before quickly finding support and launching a strong upward trajectory.
•The new resistance level is $3.21, and subsequent profits return the price to the $3.20 range where the merger occurs.
Disclaimer: Part of this article was generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance Our standards. For more information, see Coindesk’s complete AI policy.
