Morning Market Analysis
Last night, BTC rebounded slightly, but the downward momentum on the 4-hour chart remains strong, and short-term consolidation is needed. The daily chart has broken below the consolidation zone, and the pullback pressure hasn't dissipated, but the weekly chart remains healthy, indicating a new rising cycle is gradually brewing. Short-term support is at 109,000-110,000, with resistance at 112,000-113,000.
ETH's trend is in sync with BTC, with increasing downward momentum on the 4-hour chart. The daily structure is healthy, but there are obvious top divergence signals, so attention should be paid to volume. The range support is 4,400-4,450, with upper pressure at 4,600-4,700.
Altcoins are following the rebound, with overall sentiment neutral. High market cap coins are more stable. The ETH ecosystem (UNI, ENS, ETHFI) is worth noting, while PENDLE has a significant pullback, which can be patiently waited out. BSC activities are frequent, and Alpha points gameplay can be leveraged for additional gains.
From a macro perspective, the expectation of interest rate cuts remains a definite positive, and once market liquidity shifts, altcoins may have better opportunities.
