Bitcoin continues to adjust, with market FOMO boosting ETH. Over the past few days, off-market funds have been flooding into ETH, while BTC is consolidating at high levels, making ETH the best investment target.
Today's hot opportunities:
1. Crypto stocks surged, with crcl, SBET, and others rising about 30% last night.
2. The Bonk ecosystem continues to gain momentum, with Bonk being driven up by meme coins like ANI, and its market cap has been recognized by the market. It is expected to maintain strength; if it pumps back to around 0.005, it can be monitored for further declines, with positive news from the team (like major exchanges and income destruction) expected to have an impact.
3. The surge in ETH has revived the ecosystem, with CRV nearing 1 dollar, while UNI and AAVE show weak performance.
4. The on-chain meme track is heating up, with ANI's market cap exceeding 50M, continuously boosting popular coins around Grok AI like Taki, Chad, Chadi, Mekuna, Nyx, Andrej, Edward, Satoshi, and Xavier.
5. Trend Research and other ETH whales recently sold a total of 178,080 ETH.
6. Binance will launch the BAS presale token and Wallet Booster event, allowing users to deposit up to 3 BNB for oversubscription.
BTC
Yesterday, Bitcoin briefly rebounded to 120,000; however, the rebound volume was relatively low, and it closed below the middle of the K-line, indicating weak buying power. Therefore, Bitcoin may experience a consolidation downward, but the downside space should be limited in the short term, likely finding support at the upper edge of the support box.
Today's strategy:
Short-term pressures to watch are 120,000 and the previous high of 124,000; support below is at 117,700, 116,000, and 115,000. If it does not fall below 115,000, do not chase shorts; if broken, the market may weaken. The weekly K-line is pressured to retract from the upper boundary, with KDJ and RSI trending down from high levels, requiring caution against high-level pullback risks.
Resistance above at 120,000 and 124,000; be cautious when chasing prices. Support below at 117,700, 116,000, and 115,000; if support holds, consider low buying while controlling positions to avoid being aggressive. If it falls below 115,000, shorting can be considered, paying attention to the daily K-line lower support at 112,300.
ETH
Ethereum's explosive power is tremendous! On May 8th, it surged over 20% in a single day, accumulating more than 40% in three days, but the volatility made many question their lives. It stabilized and started rising in mid-April, and after a narrow range of fluctuations, it shot out a large bullish candle of over 20%. After three days of one-sided gains, it then fluctuated for two months, during which false breakouts were frequent, causing many to hit stop-losses.
Since April, ETH has doubled! However, contract trading has been particularly torturous; the market is so cruel, profits are not easy, and liquidation is common. (This wave of ETH aims for 4000 dollars, and it may even go higher!)
Today's strategy:
No top seen in the short term; be cautious when shorting. Prices have strongly broken through the upper boundary of the weekly K-line, standing firm above, and indicators show no weakness, with a strong bullish trend. 3423 is not the top; watch for resistance at 3500 and 3630 above.
The daily K-line shows a demand for pullbacks, with RSI overbought and trending downwards, indicating a short-term adjustment in the 4-hour timeframe. Support levels are at 3300, 3230, and 3120. It is advisable to enter during pullbacks; if ETH is missed, consider lurking in other coins.
Review
$CAT
The $CAT suggested on the 14th reached a peak price of 0.011, yielding a profit of 361.36%.
$BOME
The $BOME suggested yesterday reached a peak price of 0.0023, yielding a profit of 153.63%.
$BROCCOLI714
The $BROCCOLI714 layout suggested on the 14th saw a peak price of 0.052, resulting in a profit of 153.63%.
Altcoin
With ETH rising, everything else also rises. In the past two days, some altcoins have taken off first, such as floki, cat, crv, bonk, etc. If ETH can stabilize or adjust sideways, other quality DeFi altcoins will also take off. In short, the market has just begun; this is not the end.
Guessed correctly! pengu dropped below 0.032.
Simply from the candlestick analysis, it doesn't look like the whales are retreating; there is a high probability of profit-taking, especially since the entire network is in FOMO.
On-chain
Guessed right! The market cap of $CHAD soared to 8 million! Last night, Elon Musk tweeted about naming the third virtual character and liked several names in the comment section, causing the market to go into chaos.
Initially, $TAKI was in high demand, with $VMS being directly crushed. Later, GORK pointed to CHAD, but today $TAKI dropped to 1 million. Although $CHAD is gaining momentum, it remains uncertain until Elon Musk makes a statement. Today, $KAI emerged, and the situation could still reverse!
