BlockBeats News, August 8, CryptoQuant analyst Axel Adler Jr stated that "since the end of July, the SMA-120 line has reversed upward and reached the zero axis after a prolonged bearish trend. A similar attempt a week ago failed. The market has now transitioned from a phase of aggressive short pressure to a neutral bullish outlook. If the SMA-120 can maintain above the zero axis for the next two days, this trend reversal will be confirmed."
Analyst: The current market has transitioned from aggressive short pressure to a neutral bullish outlook
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