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Analyst: $102,000 Key Support Level in the Short Term, Potential Dip to $98,000 "Bull-Bear Line"

6 hours ago

On June 22nd, on-chain data analyst Murphy posted on social media, stating that since March 2nd, the middle orange line within the MVRV extreme divergence pricing range has repeatedly served as either a support for pullbacks or a resistance for rebounds. The current position of this line at $102,000 is of particular significance. In theory, in the absence of further bearish events that trigger pessimism, a short-term rebound should be supported at this level. If the support fails, the price will continue to decline to test the upper limit of the URPD chip accumulation zone - B range, which is the $98,000 level; $98,000 is also the average cost line for current short-term holders and is regarded as a temporary "bull-bear line."
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