Tons of coins
According to Coindesk Research’s technical analysis model, in the wider market turmoil, the pressure of a sharp drop in sales pressure at 2.92 support levels during peak trading hours due to the greater range of market turmoil and increased volatility in wider market turmoil.
Despite the sharp drop, buyers showed a $2.87 level, forming what appeared to be a potential stable zone. The recent price action of cryptocurrencies shows a clear zone of resistance at $2.99 left and right, with multiple failures attempting to violate this threshold, indicating a sustained bearish momentum in the short term.
Tokens have dropped 3.1% in the past 24 hours, while Coindesk 20 Coindesk 20 (by market cap by market cap, this is the index of the top 20 cryptocurrencies, excluding Stablecoins, Memecoins and Exchange Coins, with only a loss of 1.7%.
Technical Analysis
•Most obvious sales pressure occurs at the high volume (7.07 million) of $2.92 support levels.
• A significant resistance zone, approximately $2.99, had multiple failed attempts to violate this threshold.
• Current price action shows that the potential stable level is close to $2.87, while a moderate purchase interest appears after the decline.
• Overall price action shows that the dynamics of volatility increase as volatility indicates that traders should closely monitor the support level of $2.85.
•The price forms a clear V-shaped reversal pattern with a bottom of $2.85.
• The $2.880-$2.900 area remains a key resistance area for monitoring the uptrend.
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.
