#ETH
《Trend Changes — Current Market Analysis》
Having ridden this wave of price increase early on, time has become tedious. As Bitcoin oscillates and pulls back from its high position, it made another surge yesterday under favorable CPI conditions, with even the much-criticized 1000sats and ordi seeing significant rebounds today.
The trend for Bitcoin seems to have entered a consolidation phase, with support around 101900 and resistance around 105300. The slight oscillation of Bitcoin has also provided opportunities for altcoins to rebound. Whether the market will retrace further or continue to rebound needs to be closely monitored based on Bitcoin's movements. Rational thinking is key; the market will not always rise nor will it always fall. After such significant increases, a healthy pullback is necessary for better upward movement. So, don't chase the rise; even if you can catch this wave, it may just be the tail end.
Ethereum above 2700 has reached a strong resistance zone, especially near the monthly mid-line around 2760. A sufficiently large positive catalyst is needed to attract enough capital to break through this level. Currently, it has started to show oscillation, with support around 2550 and resistance near the 2700 mark. The good news is that Ethereum is gradually strengthening, which will improve the altcoin market.
The most important thing now is to manage your positions well and patiently wait for the opportunity to average down. All the cryptocurrencies we are holding have reached our profit-taking and reduction positions. Keeping half of our positions shows optimism for the market in the second half of the year, while holding half of our funds is essential for a healthy market pullback.
