After the large coin dipped near the 107200 line in the early morning of the 5th, the weekend market fell into a long period of sideways adjustment. The price of the large coin fluctuated around the 108000 line for a long time, while the altcoin simultaneously dropped to a low of 2473, later fluctuating around 2510. The market experienced changes on Sunday evening, as the ongoing tax issues prompted a rapid rise in the large coin to above 109000 before retreating, and the altcoin simultaneously reached 2569 before falling back.
Overall, after a small-scale range contraction structure, the price broke through the upper range and rose rapidly, but the overall upward momentum failed to show strong continuation, indicating a clear short-term consolidation.
On the four-hour chart, after the range contraction, the breakout above the 109000 line did not stabilize. The continuity of the short-term fluctuations remains questionable, but after the technical indicators align upward, there is still room above in the short term. Pay attention to the breakout situation at 109500. Meanwhile, the short-term rise in the coin price does not significantly improve the bag opening, with the upper and middle rails still trending downward, indicating an overall downward trend.
In the short term, the large coin is referenced around 109500-109000, looking at 108000. The altcoin is referenced around 2580-2560 short, looking at 2500. $ETH
