Analysts: Market sentiment and on-chain structure are both pointing towards a bear market; recent support levels have now turned into resistance levels.
CryptoQuant analyst Axel posted data on social media indicating that the current market sentiment and on-chain structure both point to market weakness. Short-term holders are already in a floating loss state, and all key recent support levels have turned into resistance levels.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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