July 1st Silk Road Analysis
From a technical analysis perspective, the second contract encountered significant resistance after hitting 2520, clearly under pressure and returning to a downward trend. This price level has become a strong resistance level in the short term, and during the rebound process, the trading volume continues to decline, fully reflecting the waning strength of buyers. If the price cannot regain the 2500 mark within the day, further support is expected in the 2470-2450 USD range. The MACD shows a death cross pattern, releasing bearish signals; the 4-hour candlestick chart has continuously closed in the red, establishing a short-term trend dominated by sellers.
Suggestions
First contract: Around 107500-108000,
Target 106800-106000
Second contract: Around 2500-2530,
Target towards 2450-2410.
