On December 23, CryptoQuant analyst Axel posted data on social media indicating that the current market sentiment aligns with the on-chain structure, pointing to market weakness. Short-term holders are currently in unrealized losses, and all key recent support levels have turned into resistance levels.
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Analyst: Market sentiment and on-chain structure are synchronously pointing to a Bear Market, with recent support turning into a resistance level.
On December 23, CryptoQuant analyst Axel posted data on social media indicating that the current market sentiment aligns with the on-chain structure, pointing to market weakness. Short-term holders are currently in unrealized losses, and all key recent support levels have turned into resistance levels.