Market overview and liquidation data

After facing resistance at high levels, Bitcoin is currently consolidating within the range of $104,000 to $115,500; Ethereum rebounded to around $3700 and has since pulled back short-term, currently consolidating in a narrow range around $3675.

According to on-chain data, the number of global liquidations in the past 24 hours reached 100,285, with a total liquidation amount of $242 million, indicating a significant increase in market volatility and risk sentiment.

Bitcoin (BTC): Approaching trend breakthrough, direction will soon become clear

Technical observation:

  • BTC rebounded near the daily EMA52 but was soon suppressed again at the 4-hour level by the EMA52;

  • The golden cross signal on the small cycle has yet to be confirmed, and short-term pullbacks are part of normal adjustments;

  • The current price has not yet broken through the daily MA30 moving average, and the short-term trend faces a directional choice.

Market outlook:

If the price breaks and stabilizes above MA30, further upward momentum is expected; otherwise, it may maintain a consolidation pattern. The MACD indicator is gradually approaching the zero line; if a golden cross forms, it will signal a clear rebound.

Key price levels:

  • Resistance levels: $115,900 / $120,000 / $128,500

  • Support levels: $111,900 / $107,240 / $99,100 / $91,170

Ethereum (ETH): Strong rebound followed by high-level consolidation

Current performance:

ETH had a strong bullish candle yesterday, standing firm above MA30 and quickly rising to the $3600-3700 range, currently entering a pullback phase but still within a strong channel.

Volume performance is good, and although MACD momentum appears slightly weak, there has not been a clear divergence structure. If the pullback does not break support, it is still expected to make another push towards the upper levels.

Trading suggestions:

Short-term focus on the effectiveness of support at $3590; if the pullback does not break it, consider accumulating in batches. As it approaches the $4000 mark, it is advisable to gradually take profits or reduce positions and observe, waiting for opportunities to follow up after a breakout.

Key price levels:

  • Resistance levels: $3880 / $4000 / $4170

  • Support levels: $3590 / $3410 / $3260 / $3100 / $3350

Solana (SOL): Waiting for a breakout signal

SOL successfully rebounded after obtaining support at the daily MA120, but there is still significant pressure near **MA30 ($173)**; the current price is running below it, with no effective breakout yet.

The MACD indicator is gradually approaching the zero axis; if a golden cross forms in conjunction with a price breakout above MA30, short-term bulls will regain control.

Key price levels:

  • Resistance levels: $172 / $183 / $193 / $210 / $220

  • Support levels: $156 / $145 / $136 / $126

Market trend judgment: In a critical decision-making interval

BTC, ETH, and SOL are all near critical technical levels; the breakout or pullback in the next 48 hours will become a watershed for judging subsequent trends.

  • If mainstream coins successfully break the current resistance zone, a new round of upward movement may commence;

  • If it continues to be pressured without success, the consolidation structure may be maintained, or there could be further adjustment risks.

Flexible response to trading strategy is recommended, strictly control positions, and closely monitor key moving averages and volume changes.

Altcoin observation and opportunity exploration

Overall, altcoin trends still mainly follow the market, but some individual varieties are performing outstandingly, and the intentions of major funds are becoming increasingly apparent.

Brief commentary on strong individual coins:

  • ENA / MAGIC / RED: Good structure, significant potential for upward waves

  • SPK / KERNEL / NEWT (Binance new coins): Active short-term speculation, can take small positions

  • BTC, SOL, BNB, BGB, DOGE: Quality coins with long-term value, can accumulate in batches and wait for rotation opportunities

Additional viewpoint: With the expectation of a high probability rate cut by the Federal Reserve in September, mid to late August may enter a speculative window. The market's pullback before rate cuts is usually a good opportunity for positioning, but after the actual rate cut, one should be cautious of high-level profit-taking risks.

Brief individual project analysis:

UNI:

There are obvious signs of major players manipulating the market, with the structural rhythm being 'rally → pullback → range consolidation → rally again'. The current $8-10 range is a high-value accumulation zone, and those who have not entered can consider buying in batches at lower prices.

PENGU:

Forming a descending wedge pattern, expected to break upward, with bullish signals on the technical front. Currently, it can be lightly entered around $0.035, and it is recommended to keep additional funds to cope with volatility.

MAGIC:

After two consecutive days of volume breakout, although it is close to significant technical resistance in the short term, if the current platform continues to break out, the market space is worth looking forward to. Pay attention to the short-term pullback rhythm; it is not advisable to chase highs, wait for a fall to stabilize before entering.

Summary recommendations:

  • Mainstream coins: Focus on key moving averages like MA30 and EMA52; once there's a volume breakout, a long position can be taken; if it remains unstable, range trading is recommended.

  • Altcoins: Select strong varieties to accumulate at low points, avoid chasing highs;

  • Market rhythm: Closely monitor macro news rhythm in mid to late August (especially CPI and interest rate cut expectations).