Although this sharp decline in the early morning briefly touched around 66,600, from a technical perspective, this was actually an effective test of a key support level. This level is not only a previous area of high trading volume but also coincides with the daily MA60 moving average. After the price touched this level, it quickly rebounded and formed a long lower shadow, indicating strong buying support below and signaling a waning downward momentum. At the same time, this downward probe effectively cleared excessive leverage funding rates, reducing selling pressure for the subsequent rally.
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