Analyst: The current market has shifted from intense bearish pressure to a neutral bullish outlook.

BlockBeats News, August 8th, CryptoQuant analyst Axel Adler Jr posted, stating, "Since the end of July, the SMA-120 line has reversed its long-term bearish trend and crossed above the zero axis. A similar attempt a week ago failed. The market has now transitioned from an aggressive bearish phase to a neutral bullish phase. If the SMA-120 can stay above the zero axis in the next two days, it will confirm this trend reversal."