Bitcoin Long-Term Holder Selling Pressure Eases, Market Absorption Accelerates
- Market Absorption Phase: Glassnode's analysis indicates a significant decrease in net outflows from Bitcoin long-term holders, suggesting that the market has successfully absorbed the supply released by these investors, potentially signaling a new phase in Bitcoin's market cycle.
- Holder Behavior Shift: The easing of selling pressure from long-term holders reflects increased confidence in current price levels, and historically, this transition from distribution to absorption often precedes periods of price stabilization and appreciation.
- Supporting Technical Indicators: Data from Glassnode shows a decreasing proportion of Bitcoin held by short-term holders and a stabilization of the profit-taking ratio near neutral levels, indicating a maturing market structure with reduced sell-side pressure, supporting potential future price increases.
- Increased Institutional Participation: With ongoing institutional adoption and improved regulatory clarity, demand for Bitcoin continues to rise, and this diversified absorption process may lead to different price discovery mechanisms, further enhancing market stability.
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Technical Analysis for WAVES
Technical Sentiment Analysis for Waves (WAVES) As of , Waves (WAVES) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for WAVES stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, WAVES is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Waves (WAVES) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.214 | 0.324 | 0.433 | 0.543 | 0.652 | 0.762 | 0.87 |
| Fibonacci | 0.324 | 0.408 | 0.459 | 0.543 | 0.627 | 0.678 | 0.762 |
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