7.8 Morning Analysis
Reviewing the evening 🛳️ situation, the price comparison experienced a drop ↓, and with the U.S. stock market opening low across the board, it tested the support at 108000. After breaking it, there was a rapid rebound, peaking at 108600, and currently, it is around 108500.
From the current perspective, after the rise of the main asset ↑, the price comparison has slowed down at 108600. Moreover, from an hourly perspective, the bullish rebound momentum is insufficient. The evening 🛳️ situation shows that after the main asset dropped below the key support of 108000, it quickly rebounded to 108600, but the rebound was only 0.55% and the volume has shrunk, forming a typical "break and pullback" structure, indicating insufficient buying momentum in the market. It is currently hovering around 108500, in a weak consolidation.
Suggestions
Main Asset: Watch around 108400-109200, look for 107900-107200.
Secondary Asset: Watch around 2545-2570, look for 2515-2475.
