Market solution: 5 major mainstream currencies are close to short-term bottom rebound demand is strong

Quotes: 5 major currencies are near the bottom of the short-term

According to analysts: After nearly a month of adjustment, the decline in mainstream currencies has widened, most currencies have fallen to 50% of this year's increase, and some have fallen 60% of the increase, with relatively strong demand for inflation.

Moreover, from the perspective of volume, in the large-capital currency, the volume of ETH, XRP, EOS, LTC, and BCH is close to the level beginning in early May. If the volume does not continue to shrink, the current five major currencies have the need to stabilize and rebound.

From the short-term price performance, BTC fell back to the short-term low of 10,000 US dollars support, this time BCH rebound strength is greater. If the BCH can maintain the operation near $286, the short-line support is validated after maintaining the bottom of the cross star on the K-line. Even if the BCH has rebounded from the low point by 18%, the K-line will still prompt a rebound signal. The bottom adjustment that can be done during the bounce is more likely to be a V-shaped reversal.

Similar rebounds have also occurred on ETH, LTC, EOS and XRP. The rebound rhythm of ETH and BCH is the same, and the rebound speed of other big currencies is slower. From the perspective of linkage, the rebound expectations of XRP, LTC and EOS in large-capital currencies can be noticed.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Efficient Market Hypothesis and Bitcoin S2F Model: Prediction of Bitcoin Value

Foreword: Views on the future valuation of Bitcoin have never been consistent, and there are even large opinions to t...

Market

Bitcoin broke through $9,500 and market capitalization exceeded $170 billion

In the past 24 hours, according to the data, the cryptocurrency with the largest market value fluctuated in the early...

Blockchain

Featured | Bitcoin Surviving Across Cyberspace, Material World, and Finspace

Source: Satoshi Shinmoto Today's content includes: 1) Outline the fee structure and incentives of the Bitcoin fu...

Market

Bitcoin's Reign Dominance Soars to Over 49% in 2 Years – Time to Uncover the Crypto Chronicles!

Bitcoin reigns supreme in the realm of cryptocurrency, with its dominance soaring to a staggering 49%. This marks the...

Blockchain

Before the halving, do you still have the opportunity to join the "Bitcoin 1% Elite Club"?

This article comes from Bitcoin.com , the original author: Jamie Redman Translators | Moni Bitcoin is a must for the ...

Blockchain

The most complete resumption: what happened in the market 14 hours ago, what the analysts interpret

Source: Shallot blockchain Beijing time yesterday (October 23) 20:41, Bitcoin quickly dive from the 7900 Academy of F...