Recently, asset prices have remained below $9, but the trend has shown a controlled pullback rather than a reversal. The market has stabilized within a narrow support range of $8.34 to $8.64. Buyers have intervened multiple times in this area, effectively mitigating short-term downward risks. Additionally, the secondary support level of $8.19 provided extra protection. Historical data shows that the deeper support level of $7.05 has also acted as a barrier on several occasions. This multi-level defense structure has significantly enhanced market stability.

As a result, despite increased capital inflows and the supply pressure resulting from token unlocks, prices have not fallen below this critical support level, indicating that the market possesses considerable resilience and is currently in a phase of capital accumulation rather than a selling spree. It is worth noting that the Bollinger Bands have narrowed significantly around $9. According to Monitored by Woofun AI, such reductions in volatility usually indicate that internal market pressures are building up, often presaging a decisive direction change in the future.

Currently, the buying and selling forces are roughly equal. As long as prices remain above the low point of $8.47, the upward trend is likely to continue. A breakthrough above the critical resistance level of $9.17 would serve as a definitive signal that buying momentum has regained strength. The trend in the coming few trading days will depend on whether the market can successfully break through the upper resistance levels or continue to maintain support below $8.34 to $8.64. The current stable technical conditions suggest that the market is preparing for the next phase of growth.