Global economic stress and shifting business policies continue to create instability in cryptocurrency markets, with tons of significant downward pressure.
The recent price action of the tokens has formed a descending channel with constant low and climbing continuously low and climbing under the major support levels on high trading volumes.
Meanwhile, competitive blockchain projects are attracting attention as investors are looking for an alternative amidst market uncertainty, estimated to be possible for tones with some analysts if it can install support on current levels.
Technical analysis highlights
- The ton formed a descending channel in the last 24 hours with a consecutive lower height and lower climb.
- The value below the significant $ 3.00 psychological support level during 9–12 during 9–12 on high volume (3.96 m), which indicates strong sales pressure.
- A remarkable volume spike (4.43 m) suggests a possible capitulation during the final trading hour.
- A slight bounce may indicate emerging support to close a full of $ 2.89 at $ 2.94.
- The $ 2.88- $ 2.90 zone now represents an important area to monitor for potential trend reversal.
- A V-shaped inverted pattern formed with strong speed in the last hour, broke through $ 2.90 psychological level on increasing volume.
- 13: 36–13: A significant rapid impulse between 38, increased the price of 3.6% to install the new local high near $ 2.94.
- 13: 48–13: Despite taking advantage near $ 2.95 resistance level around 49, the ton has maintained support above $ 2.93.
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