Fundamentals:
1. Wormhole announced the introduction of $35 billion market cap DOGE into the Solana ecosystem, a move that not only strengthens both ecosystems but also showcases the development potential of cross-chain technology in the crypto space.
2. Centrifuge has expanded its $400 million U.S. Treasury fund RWA to Solana, marking further development of SOL in the field of real-world assets (RWA). SOL's proactive layout in the RWA sector may position it favorably in this rapidly growing market.
3. Multiple crypto ETFs have once again faced delays in review by the U.S. SEC, with delayed projects including Bitwise and CoinShares' XRP ETF, Litecoin ETF, and Fidelity's Bitcoin ETF for physical redemption applications. At the same time, the U.S. SEC has postponed its decision on the staking plan for the 21Shares spot Ethereum ETF.
Technical Analysis:
BTC: The daily line has once again recorded a large solid bullish candle, continuing a three-day bullish trend, with the coin price approaching the 112,000 mark, overall maintaining a bullish upward trend. However, the technical gap caused by consecutive daily increases has expanded. From the four-hour chart, it can be seen that after a significant rise during the Asian session yesterday, the market entered a prolonged high-level consolidation phase lasting 12 hours. The consolidation of Bitcoin indicates that capital flow is leaning towards Ethereum and altcoins, with notable performance increases in Ethereum and altcoins during this stage. As the daily line has not experienced multiple upward spike scenarios, there is currently no need to worry about the possibility of a significant crash in Bitcoin. In terms of intraday operations, pay close attention to the support at the 1105-1095 level below, and the resistance at the 1125-1135 level above.
ETH: Ethereum has risen as expected, reaching the discussed level of 2710-2750, with the daily line again recording a large bullish candle, now showing a three-day bullish trend, with a very healthy upward momentum, about to break through the 2800 point, and the next target looks at around 3050. The daily line shows selling pressure emerging above 3050, with Ethereum officially standing above the crucial 3000 mark, and the altcoin season is set to flourish. From the four-hour line, the overall trend is showing a steady upward movement, with the technical trend appearing very healthy, as K-line moves upward along the moving average, with no technical gaps appearing yet. In terms of intraday operations, pay close attention to the support at the 2705-2685 level below, and the resistance at the 2780-2800 level above.
Altcoins: The current trend of altcoins is very good, with an overall upward pace that is quite healthy, and there is currently no need to worry about a crash caused by Bitcoin dropping. A drop in Bitcoin would inevitably go through a distribution phase, which has not yet shown any signals, so feel free to hold current positions. Since building positions in early May, clearing on May 14, and re-establishing positions this Monday, it has mostly revolved around Ethereum's mainnet upgrade sectors (staking, L2, modularization), and the AI artificial intelligence sector, with WLD having an increase of over 50% in two days. In the upcoming market, focus can be placed on the SOL ecosystem and the RWA track. In the Sol ecosystem, link and ordi can be particularly focused on, while in the RWA track, RSR can be particularly focused on!
