Market review and analysis
The BTC market showed a fluctuating trend yesterday, first surging close to 96,000 points before retreating to the support level, which was around the lowest point near 93,500. After that, it rebounded, and it has not surged past 96,000 points in the past few days. The daily line closed with a doji, and tomorrow is the end of the month; let's see if there will be a final surge in the next couple of days directly to 96,000 points. ETH performed weakly yesterday, with a mild initial surge followed by a significant correction. The intraday low did not break, and the daily line slightly pierced the lowest point around 1,745 before starting to rebound. The daily line closed with a bearish candle. The performance of the second coin is still relatively weak, but I believe the arrival of May will improve the second coin's market. This wave is bound to reach the turning point of the 2,000-2,200 range. ETH's performance is currently an important benchmark in the market, so patience is required during this phase. I have been closely watching the trends of S DOGE and SOL. SUI touched the upper level of 3.8 again yesterday, but do not chase; it has already reached the target we discussed at that time. If you want to consider entering, at least wait until the 3.0-3.2 range for a swing. For other coins, just hold on and wait for explosive trends.
Today’s highlights
The BTC intraday level saw a rebound after a decline, with the key support level remaining at 92,000 points this week. For the intraday level, the support area is still focused on the 93,000-93,600 range, which has not changed. The resistance above continues to be observed in the 96,000-98,000 range. If it cannot break through 96,000 points in the next couple of days, it is highly likely to challenge that during the holiday around May Day. So, as the month-end approaches in the next two days, everyone should pay attention. If it strongly breaks 98,000 points and goes above 100,000, then ETH will definitely follow the rise. Currently, the market phase is still mainly a bullish outlook after a correction.
ETH has already recovered the losses from yesterday. The current intraday support level corresponds to the 92,000 points of BTC, which is around 1,720. Normally, the intraday support level for the second coin should focus on around 1,760. The lowest point today was around 1,745, which rebounded. Therefore, there is no need to overly focus on support levels for the intraday; one can look upwards for resistance levels. The first resistance level is in the 1,860-1,880 range, and the key area to focus on above is the 1,960-2,000 range. Currently, the overall trend's turning point is in the 2,000-2,200 range.
