Today, the market fluctuates significantly. After experiencing a rebound, Bitcoin and Ethereum have shown a substantial decline. During the rebound process, Bitcoin faced resistance and failed to break through the key resistance level of $106,000, reaching a maximum of only $99,000 before quickly dropping back to around $95,000. Ethereum also faced strong resistance, and after six unsuccessful attempts to breach $2,850, its price fell sharply, eventually dropping to around $2,600.
From a technical analysis perspective, Bitcoin's weekly chart shows a doji pattern, indicating that bearish forces currently dominate. Analyzing key levels, its support is in the range of $95,000 - $94,500, which provides significant support for the price; a breakdown could trigger further declines. The resistance level is in the range of $96,500 - $97,500, and the price needs to effectively break through this range to open up upward potential. Ethereum's weekly chart has entered a correction phase after two consecutive small bullish candles. Its support is in the range of $2,730 - $2,680, which plays a critical role in stabilizing Ethereum's price; the resistance is in the range of $2,790 - $2,830, an important barrier to overcome during the price rebound.
In the altcoin market, investors should pay close attention to Bitcoin's $95,000 and Ethereum's $2,600 critical defense levels. Once these key levels stabilize, a phase of rebound may occur, providing investors with trading opportunities. However, given the current overall market uncertainty, it is essential to remain highly cautious, strictly control risks, and formulate reasonable trading strategies to cope with the complex changes in the market.
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