FROM A TECHNICAL PERSPECTIVE, BITCOIN'S SHORT-TERM MOVING AVERAGE SYSTEM SHOWS A BULLISH ARRANGEMENT, INDICATING THAT THE SHORT-TERM UPWARD TREND IS STILL CONTINUING. HOWEVER, THE PRESSURE ON THE LONG-TERM MOVING AVERAGE IS STILL RELATIVELY LARGE. IF BITCOIN WANTS TO ACHIEVE FURTHER SUBSTANTIAL INCREASES, IT NEEDS TO BREAK THROUGH THE KEY RESISTANCE LEVEL OF $110,000 AND OBTAIN SUFFICIENT VOLUME SUPPORT. AS FOR ETHEREUM, TECHNICAL INDICATORS SHOW THAT IT IS IN A SHOCK CONSOLIDATION STAGE, WAITING FOR NEW CATALYSTS TO BREAK THE CURRENT BALANCE.
LOOKING AHEAD, AS THE REGULATORY POLICIES OF THE CRYPTOCURRENCY MARKET BECOME CLEARER, THE COMPLIANCE OF THE INDUSTRY WILL BE FURTHER IMPROVED, WHICH IS EXPECTED TO ATTRACT MORE INSTITUTIONAL INVESTORS. AT THE SAME TIME, THE CONTINUOUS INNOVATION AND APPLICATION EXPANSION OF BLOCKCHAIN TECHNOLOGY WILL ALSO INJECT NEW VITALITY INTO THE CRYPTO MARKET. FOR EXAMPLE, THE DEVELOPMENT OF LAYER 2 TECHNOLOGY IS EXPECTED TO SOLVE THE PROBLEMS OF ETHEREUM NETWORK CONGESTION AND HIGH TRANSACTION FEES, IMPROVE USER EXPERIENCE, AND THUS PROMOTE THE FURTHER PROSPERITY OF THE ETHEREUM ECOSYSTEM.
