The current cryptocurrency market is like walking on a tightrope, swaying uncertainly on both sides. The Fear and Greed Index is stuck at 48, a point that is neither high nor low, indicating that people are neither particularly afraid nor willing to rush in carelessly. The total market capitalization of crypto assets has slightly dropped to $3.26 trillion, and trading volume has shrunk by 9%. The market seems to be waiting for a traffic signal, with everyone holding their breath and hesitating to take action.
Let’s take a look at the situation of several major coins:
Bitcoin (BTC) is currently hovering around $105,000, forming a symmetrical triangle pattern. This pattern usually indicates that a direction will soon be chosen, but it is still uncertain whether it will be upwards or downwards. From a technical perspective, $103,600 serves as a key support level; if it cannot break through the resistance level of $105,500, it will be difficult to reach the high point of $108,000. The biggest issue right now is the lack of trading volume; significant capital needs to enter the market to truly push the price beyond this range.
Ethereum (ETH) is oscillating around $2,524, with trading volume dropping by 17% on this day, indicating that retail investors are noticeably less active. However, there is an interesting phenomenon where large institutions seem to be secretly stockpiling. From a technical analysis perspective, as long as it can hold the support level of $2,500, it might make a push towards $2,600; but if it cannot maintain the support at $2,460, it may need to continue testing down to $2,400.
Ripple (XRP) is performing quite strongly, currently standing firmly at $2.16, mainly benefiting from Canada's approval of the XRP ETF, which has brought a lot of positive impact. From a technical standpoint, if it can break through the resistance level of $2.18, there is a chance to challenge $2.30; however, if the support level of $2.12 is breached, it may pull back to the psychological barrier of $2.00.
Overall, the entire market is waiting for a clear directional signal, and how large capital moves next is likely to determine the market trend in the short term.
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