雨欣399
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X 24 hours: A tug-of-war between bulls and bears, consolidating volatility
In the past 24 hours, the X token has staged a thrilling tug-of-war between bulls and bears.
The market was caught in narrow fluctuations since the opening, with prices repeatedly testing above key support levels, as both sides engaged in fierce competition for every inch. In the afternoon, the situation changed dramatically as bears suddenly gained momentum, causing prices to quickly plunge and breach the intraday low. However, the 0.618 Fibonacci retracement level demonstrated strong support, with buying pressure rushing in to resist, leading to a rapid rebound after hitting the bottom, forming a clear “V”-shaped reversal pattern.
Despite the intense volatility during the session, the daily line ultimately closed as a doji with a long lower shadow. This clearly conveys the current market signal: the buying strength at low levels is consolidating, yet there remains significant selling pressure above. Trading volume in key price areas has moderately increased, indicating a growing divergence between bulls and bears. In technical indicators, the MACD dual lines have begun to flatten below the zero axis, and the RSI has also rebounded from the oversold area, suggesting a weakening of short-term downward momentum.
Overall, X experienced a surprise attack from bears and a desperate counterattack from bulls within 24 hours, ultimately holding firm at the critical defense line. This oscillating doji is akin to a brief pause after a fierce clash, as the market is accumulating strength for the next directional move.
In the past 24 hours, the X token has staged a thrilling tug-of-war between bulls and bears.
The market was caught in narrow fluctuations since the opening, with prices repeatedly testing above key support levels, as both sides engaged in fierce competition for every inch. In the afternoon, the situation changed dramatically as bears suddenly gained momentum, causing prices to quickly plunge and breach the intraday low. However, the 0.618 Fibonacci retracement level demonstrated strong support, with buying pressure rushing in to resist, leading to a rapid rebound after hitting the bottom, forming a clear “V”-shaped reversal pattern.
Despite the intense volatility during the session, the daily line ultimately closed as a doji with a long lower shadow. This clearly conveys the current market signal: the buying strength at low levels is consolidating, yet there remains significant selling pressure above. Trading volume in key price areas has moderately increased, indicating a growing divergence between bulls and bears. In technical indicators, the MACD dual lines have begun to flatten below the zero axis, and the RSI has also rebounded from the oversold area, suggesting a weakening of short-term downward momentum.
Overall, X experienced a surprise attack from bears and a desperate counterattack from bulls within 24 hours, ultimately holding firm at the critical defense line. This oscillating doji is akin to a brief pause after a fierce clash, as the market is accumulating strength for the next directional move.
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