The price of large pancakes experienced significant fluctuations during the midday trading session, displaying typical range oscillation characteristics.
First, it dipped to around 102300, forming a temporary bottom, and then, driven by continuous bullish funds, it quickly surged to the resistance level region of 104300.
After reaching the resistance level, the price underwent a technical correction, stabilizing back near the support level of 10200.
As of now, the price has rebounded to 103300 and is currently operating within the key price range of 102000 - 104000.
From the market structure perspective, the previous strong upward trend has somewhat eased, but bullish momentum still dominates.
Due to the continuous increase in bullish funds, the price fluctuation range has significantly expanded, further compressing the price pullback space.
The current pullback can be seen as a technical correction process, and it is expected to accumulate momentum for a second upward attack.
If the price effectively breaks through the key resistance level of 104,000, according to the principle of top-bottom conversion, this position will turn into a new support level, allowing for the continuation of a bullish strategy.
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