Market Analysis for July 31
Yesterday, BTC remained in consolidation, and Powell's hawkish remarks triggered a brief fluctuation, but did not impact market sentiment, quickly recovering. The 4-hour chart shows a good recovery, with oscillation and consolidation, daily returns to health, and weekly begins to recover, paying attention to trading volume and the Federal Reserve's rate cut process.
ETH initiated an independent market, with a golden cross about to form on the 4-hour chart, the trend returning to health, daily repair completed well, and trading volume remaining stable, expected to rise.
Altcoins are following mainstream upward movements, market sentiment is recovering, pay attention to BTC's market share and fiat buying signals, ETH-related tokens can be followed, PENDLE's trend is good, expected to rise in the short term. Recently, Binance has been active, and Alpha points can be used for arbitrage.
Intraday BTC support levels are 117500-118000, resistance levels are 119000-120000,
ETH support levels are 3750-3800, resistance levels are 3900-4000, expected to maintain consolidation with upward opportunities.
Intraday focus: MDT KERNEL FTT ENA CFX SOPH
