Bitcoin and Ethereum Market Analysis on May 30: BTC, ETH Highlights for Today

Market Review

Yesterday, BTC continued to consolidate and retraced, breaking below the 107,000 support level. The 4-hour level still needs to be repaired, and the daily level still shows a top divergence, waiting for the daily chart to move out. The weekly trend remains healthy, focusing more on fundamental information, the Federal Reserve's interest rate cut process, and expecting continued consolidation during the day. Patience is needed; on a larger cycle, the weekly golden cross has formed, and a new round of market activity is expected to start.

ETH followed BTC in the same consolidation, failing to hold above 2,700 and dropping back again. The 4-hour trend remains healthy, waiting for BTC to stabilize; observation is advised during the day, and consideration can be given to following up after BTC stabilizes.

Altcoins followed mainstream coins in consolidation, market sentiment is low, and the altcoin index has retreated to lower levels again. If mainstream coins stabilize, consideration can be given to following up, focusing on meme coins and ETH-related tokens. Recently, Binance has been frequently active with Alpha points activities; users can accumulate points in anticipation of the next round of activities. The activity on the SOL chain is continuously increasing, and more attention can be given to MEME tokens.

Highlights for Today:

BTC's 1-hour and 4-hour levels are below the healthy range, while the daily level has returned to the healthy range. Expect continued retracement during the day, with support at 104,000-104,500 and resistance at 107,000-107,500.

ETH's 1-hour and 4-hour levels have returned to the healthy range, while the daily level is also back in the healthy range. Expect consolidation during the day, with support at 2,500-2,550 and resistance at 2,700-2,750.