Recently, the market has experienced increased fluctuations, and the number of uncertainties has clearly risen. Observing the trend from today's early session, the market shows a distinct downward trend. Mainstream tokens, after reaching the important resistance level of 106500, failed to achieve the expected rebound. Affected by the global political tensions (especially the worsening situation in the Middle East), prices continue to weaken, reaching a low of 103000. Although there was a brief recovery, the overall trend remains downward.

From the technical analysis of the 4-hour cycle, the market has started a downward channel from the 110392 point, forming a noticeable short-term downtrend. Multiple K lines show significant long upper shadows, indicating substantial selling pressure above and insufficient rebound strength from buyers. In terms of technical indicators, the 4-hour MACD indicator shows that the DIF line and DEA line continue to decline and the distance between them is widening, while the green energy bars are constantly expanding, indicating that bearish forces are dominant and showing signs of strengthening; the daily MACD indicator has already formed a death cross pattern, further confirming the current bearish dominance in the market.

Mainstream tokens prices may continue to decline around the 104000-104500 area, with the target level looking towards 102800; secondary tokens may weaken in the 2505-2525 range, dropping to the 2450 area. Market participants should closely monitor global developments and technical changes, and manage risks effectively.