Bitcoin and Ethereum Market Analysis on 5.8: BTC, ETH Highlights Today

Market Review

Yesterday, BTC maintained a consolidation phase with a healthy trend. This morning, it surged with increased volume, breaking through the resistance range, which is a positive signal. Tonight, there will be new updates from the special meeting, so pay close attention. Recently, focus more on fundamental information, especially the Federal Reserve's interest rate cuts. During the day, watch for the breakout stability. If it remains above 98,000, it is expected to continue rising. On a larger cycle, the weekly golden cross is likely to take shape, and a new round of market action may start, so be patient.

The second-tier coins are rising in sync with BTC and are likely to break through the consolidation range, with potential follow-up gains during the day.

Altcoins are experiencing slight increases alongside mainstream coins, but the extent is not significant. If mainstream coins stabilize, consider a slight follow-up. Recently, Binance has been active with frequent events, and the Alpha points activity is ongoing, so you can accumulate points and wait for the next round of activities. The activity on the SOL chain is continuously rising, so pay more attention to MEME coins. For already held coins, be patient and wait for the market to warm up.

Today's Highlights:

BTC's 1-hour and 4-hour levels remain healthy, and the daily level also stays healthy. If it holds above the support level during the day, it is expected to continue rising. The support range during the day is 97,000-97,500, and the resistance range is 99,500-100,000.

ETH's 1-hour and 4-hour levels remain healthy, and the daily level also stays healthy. It is expected to have a follow-up rise during the day. The support range during the day is 1,780-1,830, and the resistance range is 1,900-1,950.