In the midst of high volatility in the cryptocurrency market, Bitcoin (BTC) is trading around 162 million won, recording a slight decline of -0.09% compared to the previous day. Market participants are paying attention to the possibility of a short-term sideways trend continuing.
Bitcoin continued its upward trend after breaking through the 120 million won range, but is currently facing resistance around 162 million won. The MACD histogram, a technical indicator, shows a downward signal suggesting a potential short-term adjustment, but the medium to long-term upward trend since June remains valid.
Ethereum (ETH) is currently trading at 4.96 million won, showing a -0.87% decline over 24 hours. As the Bollinger Bands contract and the price enters a consolidation phase, investors are cautiously observing the potential trend reversal.
Ripple (XRP) has fallen to 4,510 won after breaking out of its recent trend line, recording the largest decline among major altcoins at -5.67%. Analysis suggests that Bitcoin's weakness may further impact XRP's downward trend.
Solana (SOL) is currently trading around 260,000 won, maintaining an upward channel. However, Binance Coin (BNB) has drawn market attention by surpassing Solana in market capitalization after setting a new all-time high.
The global cryptocurrency market is experiencing a correction after a recent short-term rally, with consecutive two-day fund outflows from the US spot Bitcoin ETF potentially negatively impacting market sentiment. The total market size is approaching 4 trillion dollars, with trading volume stabilizing around 222 billion dollars.
Bitcoin's key resistance levels are analyzed at 120 million won and 123.18 million won, with support levels at 116 million won, 115.74 million won, and 111.97 million won. These price levels are expected to serve as important technical reference points for predicting future movements.
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