Two support points for coin prices were lost
According to Eqtesadnews, the coin market is celebrating the longest night of the year, when the price trend is down and the business of coin market traders is not. Prices for coins Emami continued to decline, indicating a decline in market demand for the precious metal. Yesterday, the coin bubble went below half a million tomans, and this precious metal not only lost the border of 12 million tomans, but also the support of 11 million and 800 thousand tomans could not block its decreasing path. The reduction of the coin bubble and the loss of an important support range indicate that the possibility of further decline in the coin market is not ruled out. However, the decline in the coin bubble has another sign: conditions are improving for long-term buyers and low-risk actors.
Why can reducing the bubble pave the way for new demand?
The closer the market value of the coin is to its intrinsic value, the more willing a group of actors are to enter the market at the buying position. The last time buyers entered the coin market was when the coin bubble had dropped to about 250,000 tomans. At that time, the coin fluctuated around 10 million and 800 thousand tomans. This time, assuming the situation is stable, if the coin drops to the range of 11 million and 500 thousand tomans, a group of traders may consider a purchase step suitable for themselves and change the direction of the market with their presence. Traders who are not too risk averse to buy usually enter the market when the bubble is low. A low bubble means that the price does not have more fundamental capacity to fall.
Coin prices in linear transactions
In linear transactions, the market trend is downward and the price of coins in these transactions has entered the channel of 11 million and 700 thousand tomans. At the beginning of the operation, the price was above the limit of 11 million and 800 thousand. A drop in the price of coins in back-to-back transactions can also be a signal for prices in today’s market.
Coiners look at the dollar
Today, the global gold market is closed, and naturally the coin market players will look more to the dollar market. The American banknote went below 25 thousand and 500 tomans yesterday, and if it remains below this limit today, there is a possibility that the coin will fall further. However, some coin dealers hope that traders will replace their coins after a few days of profiting from previous purchases, thus paving the way for rising prices.
World Gold Price Outlook
One of the influential elements on the coin market gold price Usually, near Christmas, the demand for gold in the world market decreases and this decrease in demand leads to a decrease in price, but this year the situation seems to be different. Demand for global gold has risen, and even some big traders think gold will break the price ceiling and reach new levels. In this case, it is possible that the arrangement of traders in the domestic market will change. That is, they buy coins in the hope of gold.