The Kimchi Premium, where cryptocurrency prices are higher in domestic markets compared to overseas, has slightly narrowed, with some assets showing a negative premium.
As of 8:07 AM on July 24th, according to DataMaxiPlus, the Kimchi Premium (Upbit-Binance) is recorded as follows:
Coin Kimchi Premium Status
Bitcoin (BTC): $118,302.75 / 162,224,500 won / -0.04%
Ethereum (ETH): $3,592.60 / 4,957,500 won / +0.09%
Solana (SOL): $188.56 / 259,475 won / +0.00%
XRP: $3.17 / 4,377 won / +0.25%
Doge: $0.2457 / 331.25 won / +0.20%
The Kimchi Premium is a price disparity phenomenon where cryptocurrency prices are higher or lower on Korean exchanges compared to overseas. The current level shows relatively stable domestic buying pressure and a small gap with overseas prices. Except for BTC, which has transitioned from a plus to a minus premium, most assets continue to fluctuate slightly in the plus range.
Bitcoin Technical Analysis
The Bollinger Bands upper limit is $123,150, lower limit is $102,333, and the center line is $112,741 (20-day moving average).
Bitcoin is currently trading around $118,302, above the center line. This suggests that short-term buying pressure is maintained and attempts to break the upper band are valid.
Technically, the possibility of breaking the upper band ($123,150) remains valid, and additional upward momentum may occur. However, some profit-taking flows at the psychological resistance line should also be monitored.
During downward adjustments, the center line ($112,741) can serve as a technical support line, and if breached, the possibility of adjustment to the lower band ($102,333) should be considered.
The RSI (Relative Strength Index) is 68.16, strongly rebounding from the previous day's 57.67. Recovering to the 60s suggests that short-term upward potential is being reinforced again, and whether it breaks the box range's upper limit will be a key point of observation for the short-term trend.
[This article does not provide financial advice, and the investment results are the sole responsibility of the investor.]
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