The 'Kimchi Premium' in domestic cryptocurrency prices compared to overseas markets has slightly decreased.
According to CryptoPrice at 8:16 AM on the 18th, the Kimchi Premium (Upbit<>Binance) is recording 1.77%.
Dropping from 2.30% the previous day to the 1% range, it shows a somewhat calmed domestic buying trend. Major altcoins such as Ethereum, XRP, and Doge are maintaining a premium of around 1.8-1.9%.
Coin-specific Kimchi Premium Status
Bitcoin (BTC) $84,903 122,650,000 won 1.77%
Ethereum (ETH) $1,585.16 2,294,000 won 1.95%
Solana (SOL) $134.41 194,200 won 1.78%
XRP $2.07 2,995 won 1.94%
Doge $0.1559 225 won 1.87%
The Kimchi Premium is a phenomenon where cryptocurrency prices are higher on Korean exchanges, caused by a sudden increase in domestic demand or lack of overseas liquidity. A reduction or negative conversion of the Kimchi Premium indicates a weakening of domestic buying pressure or weakness in domestic prices compared to global rates.
Bitcoin Technical Analysis
The Bollinger Band's upper limit is at $87,414, and the lower limit is at $77,949. Breaking through the upper band indicates an overbought state with potential for adjustment (decline), while falling below the lower band suggests an oversold state with potential for a rebound.
Bitcoin is trading at $84,888, up 0.70% from the previous day. Staying near the band's upper limit suggests a short-term overheating possibility.
Breaking through the upper limit could be a trend-strengthening signal, but a pullback could also create short-term adjustment pressure. With a wide band width, it is interpreted as entering a period of expanded volatility.
The 20-day moving average, which determines the strength and direction of the trend through the average price over a certain period, is currently located at $82,681.
The current price is above the 20-day moving average, maintaining a basic upward trend. The trend line is likely to serve as a support line, and a short-term suppression could be valid from a buying perspective. However, a deviation must also consider the possibility of trend slowdown.
The RSI (Relative Strength Index), which measures the strength of price increases and decreases, dropped from 45.65 the previous day to 43.3. While remaining in the trend continuation section, the buying momentum appears somewhat weakened.
It is not in the oversold section but is closer to a wait-and-see attitude. The lower value compared to the previous day suggests a weakening of energy.
An RSI above 70 indicates an overbought state with an increased possibility of adjustment (decline), while an RSI below 30 indicates an oversold state with an increased possibility of a rebound.
[This article does not provide financial advice, and the investment results are the sole responsibility of the investor.]
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