In the crypto currency market, according to the evaluations of Coindesk Analyst Omkar Godbole, Bitcoin $104,455.73 And important thresholds are tested in technical indicators for various subcoins. In particular, the price of Bitcoin is at a critical limit by approaching the 50 -day simple moving average (SMA) again. In the previous two tests, prices were increased with the support of this average; However, the weak upward response in the final test causes various uncertainties to come to the forefront of the future of the market.
Critical support and resistance levels in Bitcoin
Bitcoin’s approach to 50 -day SMA is considered important in terms of direction determination in the market. During the first test of SMA in June, the price took place from about $ 100,500 to $ 110,000. However, in the second test, the price rise from only $ 103,000 to $ 109,000 for a short time, the tire signal in the purchase -oriented movements. The last week “Doji” formation indicates that the interest rate of more than $ 100,000 has weakened.
According to analysts’ views, Bitcoin may need to overcome $ 110,000 with a high volume movement to continue the increase in the crypto currency market. Otherwise, the downward breaking of the 50 -day average may increase sales pressure, and the prices may be below 100,000 dollars with an important support level.
Omkar Godbole: “For a significant rise, Bitcoin needs to rise above $ 110,000 highly.”
Technical weakness in subcoins
In the analyzes, XRP is also on the border in an important technical indicator. The XRP is on the lower limit of the Ichimoku cloud. The cloud of this cloud is seen as a downward signal by most trader. In addition, the “death intersection ıyla has occurred with the XRP’s 50 -day moving average below the 200 -day average, and this indicator signaled a decrease signal.
Dogecoin, which has similar structure in the past 
$0.16798The price of the (Doge) price also faced sales pressure by hanging under the cloud of Ichimoku, and other Altcoins Ada and Link were affected by this decrease. The short -term main support in the XRP stands out as $ 1.60. If this level goes down, the continuation of the decline may come up.
Omkar Godbole: “XRP’s hanging under the Ichimoku cloud of XRP can pose a decline pressure on the market.”
Trend is followed through the market
Moving averages and technical indicators are closely monitored in both Bitcoin and leading subcoins in the market. Particularly in the average levels of moving average, breaks are effective in the short and medium -term decisions of investors in the market. Most of the indicators reveal that both buyers and sellers give unstable and short -term reactions.
For investors, such technical analysis may be useful to evaluate market trends and determine possible risks. Frequent testing of technical levels is considered as a sign in which direction the trend will evolve in the future.
According to recent technical analysis, moving averages and cloud indicators play a critical role in determining price movements in the crypto money market. Permanent pricing above or below these levels can directly affect market perception and transaction volume. The current situation of the market offers a series of technical signs that should be closely monitored for both long -term investors and short -term transactions. Fractures that will occur on or below technical indicators may bring significant movements in prices. Current monitoring of market data for investors and careful risk management are important.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
