“Market Volatility Intensifies As Key Short-Term Support Levels Break Down.”, – WRITE: www.coindesk.com
The Move ComESS As the Broader Market Gauge, Coindesk20 Index, Remainned Flat.
Technical Indicators Paint A Potential Bearish Picture on the Short-TimeFrame As the Formation of Lower Highs and Lower Lower Lows Suggests Building Bearish.
The Breakdown of the $ 3.16 Support Level, ConfirMed by High-Volume Selling, Has Open the Door to Further Potential Downside as Global Economic Tensions Continue to Resh. Traditional and Cryptocurrency Markets.
Technical Analysis Highlights
• Failed Breakout Attempt at the $ 3.22 Resistance Level, Followed by Consistent Selling Pressure.
• Accelerated Selling with Above-Average Volume.
• Notable Support Emerged at $ 3.16, WHERE BUYERS PREVIUSLY STEPED IN COMEMPT STRONG VOLUME.
• Formation of Lower Highs and Lower Lows Since the Reject at $ 3.22 Suggests Bearish Momentum.
• A short-Term Double Top Pattern Formed at the $ 3.18 Level Before Breaking Down.
• High Volume Selling Pushed Prices Down to $ 3.16, Confirming the Breakdown of the $ 3.16 Support Level.
• 1.2% Price swing with the Hour Demonstrates IncreASING MARKET INSTITY.
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All Content Produced by Coindesk Analytics is Undergoes Human Editing by Coindesk’s Editorial Team Before Publication. The Tool Synthesizes Market Data and Information from Coindesk Data and Other Sources to Create Timely Market Reports, with All External Sources Clearly Attributed Within Each.
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