After the full frenzy temporarily returned to calm, the rally market can continue?

After the full frenzy temporarily returned to calm, the rally market can continue?

Market Sentiment: According to the relevant data, the number of major virtual coins in the market rose 77.28% in the 24 hours before press time, which is significantly more than the 22.72% of the number of declines, with 2,152 coins that rose more than 10% and 370 coins that fell more than 10%. Market sentiment has reversed greatly compared to the day before, with short-term sentiment shifting from an extremely pessimistic state to an extremely optimistic one. However, it should be noted that because the indicator counts the state of the market in the past 24 hours, and this state has changed slightly in this morning’s trading.

The rally that started since the early hours of yesterday was obviously stronger, breaking the MA30 and MA60 SMAs of the 2-hour cycle one after another, while breaking the rally high of the 22nd. At present, the price of the coin has broken the MA60 SMA and dropped back to above the SMA again, showing signs of stopping the decline. Meanwhile, the MACD double line, which has been running below the zero axis since May 10, has now crossed the zero axis after half a month. Volume did not show signs of amplification, but continued to remain shrinking state. The 42200 line marked in the chart is the overlapping area of the lows and highs of the two previous finishing platforms.

The above information shows that the multiple parties are now more dominant. However, due to the large rebound amplitude in a short period of time and the fact that the top has touched the consolidation resistance area of May 22, it is expected that the short-term trend of the coin price will maintain the current narrow oscillation pattern, or a small fall again, but it is difficult to change the rebound situation. It is recommended that you focus on the 35900 line of support, which can be seen as a dividing line between strength and weakness in the next day or two, as long as the fall can be stopped above the price level can be considered a strong pattern has not changed, the break is another story.

Support: 37600–35900–33800

Resistance: 39500 – 42200 – 45600

ETH is also rebounding strongly, with a maximum gain of 60% from yesterday’s early morning low. Looking at the trend pattern, if we consider the May 22nd consolidation zone high as the most recent rally high, then the current feature of moving down from the high has been broken. At the same time, the average combination (2-hour MA30, MA60) has been initially transformed from the previous short alignment to a multi-head alignment. The kinetic energy indicator MACD double line has also crossed up from below the zero axis to above the zero axis. Currently running to the previous intensive trading area (2727-2915) at the lower rail signs of stagnation.

The overall look of this round of rebound continues to continue the probability of greater, but the short-term trend of adjustment needs, the potential support below is mainly concerned about 1184-2483 area, if the drop to this area signs of stop, the probability will again rebound channel. The most critical support is concerned about the 2280 line, seen as the current round of rebound market strength and weakness dividing line.

Support: 2483–2387–2284

Resistance: 2727 – 2915 – 3150

DOT is currently in the 2-hour cycle MA60 SMA at the relatively obvious phenomenon of stagnation, while the location is also in the previous intensive finishing range, the high point of the day is basically just located in front of the finishing range at the high point. Short-term trend is expected to adjust the demand, but in view of the current market overall rebound strength and the rapid warming of market sentiment, the fall is not too large. Next can pay attention to the 19-20 regional support role, if the fall back to the range to stop the signal, should be a good low inhalation field opportunities.

Support: 20.90 – 19.00 – 17.00

Resistance: 24.60 – 26.00 – 27.50

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/after-the-full-frenzy-temporarily-returned-to-calm-the-rally-market-can-continue/
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