6.30 Six-Flying｜Market Analysis
Last night, Ethereum violently surged by a hundred dollars. What should the market do today?
BTC rose in the morning to around 108800, but failed to maintain the upward momentum, forming a sideways stagnation structure, indicating significant selling pressure above and weakening bullish momentum. Meanwhile, ETH followed BTC with a synchronized rhythm, reaching around 2520 before also experiencing a pullback, showing a weak short-term trend.
Currently, the key support for BTC is at 106500. If it breaks below, it may retest the 105000 level; the upper pressure remains in the range of 108800-109300, with short-term fluctuations in a box pattern. For ETH, 2440 is the key short-term support, and if it fails to hold, it could drop to the 2400-2380 area, while the upper resistance zone is at 2530-2550.
So for my personal short-term operation, I still suggest taking another short position, noting that this is a short-term approach. It is also possible for a continued breakout over a longer period!