$BTC Although the significance and position of the support levels that mainstream coins have broken are different, the short-term resistance levels they are currently facing have once again formed a resonance effect.
BTC at 102500, ETH at 2315, SOL at 136.
The support level for BTC is the most important one above 100,000, while the area between 100300-100800 has seen multiple pin rebounds without undergoing extensive testing, making it far less stable than 102500. Therefore, when 102500 is broken, other coins plummet one after another.
ETH's 2315 is the daily low from May 10. If it breaks this level, it will challenge the daily low of 2183 from May 9. If this level cannot hold, it will challenge the 20% candlestick from May 8, which is quite alarming to think about.
Currently, if SOL cannot quickly regain 136 within the day, it will slide toward 123-125.
In another 24 hours, the weekly candle will close. If BTC breaks below 100,000 today, it will bring the weekly MACD death cross one step closer, as well as the confirmation of the weekly MACD divergence, both of which are extremely bearish signals that may indicate the beginning of a bear market.
Similarly, if ETH experiences another 20% daily drop, even though the support around 1850 is likely to hold from a technical perspective, once it holds, how can one expect it to return to around 3000? The confidence of bulls is not so easily restored.
Subjectively, I sincerely hope this round of the bull market does not end so hastily, but objectively, we can only take it step by step. For now, let's first focus on whether mainstream coins can simultaneously reclaim their important support levels.
Good luck.
