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It is experiencing greater volatility in the midst of a broader market turbulence, with a significant sales pressure that broke the support level of $ 2.92 during the maximum negotiation hours, according to the Coindensk Research technical analysis model.
Despite the strong decrease, buyers have emerged near the level of $ 2.87, forming what seems to be a potential stabilization zone. The recent price action of the cryptocurrency shows a clear resistance zone around $ 2.99, with multiple failed attempts to violate this threshold that suggests a continuous bearish impulse in the short term.
The Token has fallen 3.1% in the last 24 hours, while Coendesk 20 El Coendesk 20, an index of the 20 main cryptocurrencies for market capitalization, excluding stablecoins, memecoins and currency exchange, lost only 1.7%.
Technical analysis
• The most pronounced sales pressure occurred with high volume (7.07m) that broke the support level of $ 2.92.
• A notable resistance zone formed around $ 2.99, with multiple failed attempts to violate this threshold.
• The current price action suggests a potential stabilization that is formed by the level of $ 2.87 with moderate purchase interests that arise after the decline.
• The general price action indicates a bearish impulse with greater volatility, which suggests that operators should closely monitor the support level of $ 2.85.
• The price formed an investment pattern in a clear V form with a significant fund at $ 2.85.
• The $ 2,880- $ 2,900 area remains a critical resistance area to monitor the continuation of the upward trend.
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