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It is experiencing significant downward pressure in the short term, according to the technical analysis model of Coindesk Research.
The Token saw an intradic decrease of 4.67% to as low as $ 3.15 at high volume (3.65 million), although recent pricing action shows modest recovery attempts of the minimums with a new resistance that is formed to $ 3.24.
Token has dropped 3% in the last 24 hours. Coindeesk 20, an index of the 20 main cryptocurrencies for market capitalization, excluding stable, memecoras and exchange currencies, lost 3.2%.
Technical analysis
• Critical support zone established around $ 3.15- $ 3.16, confirmed by the negotiation volume higher than the average.
• The most pronounced price drop occurred in an intradic decrease of 4.67% in an exceptionally high volume (3.65 million), indicating a strong sales pressure.
• The resistance is formed to $ 3.24, although the general trend remains bassist with lower maximums established throughout the period.
• Recovery pattern observed in the last hour, rising from $ 3.19 to $ 3.20, which represents a gain of 0.4%.
• The price of the Sharp sales saw falls to $ 3.18, before quickly finding support and starting a strong upward trajectory.
• New level of resistance established at $ 3.21, with subsequent prices of obtaining profits to the range of $ 3.20 where consolidation occurs.
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