On May 27, BTC set a historical high of over 111,000 at the beginning of the week, but then experienced a slight pullback, and the market entered a phase of consolidation. The current price found support around 106,000 USD and may continue to test the resistance level of 110,500 USD.
1. Review of Yesterday
$BTC : Yesterday's lowest point was 108,645, the highest point was 110,408, with a fluctuation of 1,711 and an amplitude of 1.55%
$ETH : Yesterday's lowest point was 2,522, the highest point was 2,598, with a fluctuation of 76.66 and an amplitude of 2.95%
2. Today's Analysis
The current quote for BTC is 108,391, and the BTC price is fluctuating in the range of 108,000 to 110,000 USD, likely to continue testing the resistance level of 110,500 USD in the short term. Institutional capital inflow and macroeconomic expectations are the main driving factors, but low retail participation and whale sell-offs may bring downward pressure. If it breaks through 110,500 USD, it may further test 112,000 USD or even higher, supported by institutional capital inflow and expectations of interest rate cuts. If it falls below the support level of 106,000 USD, it may further dip to 104,000 USD or lower. In the short term, it is essential to be wary of whale sell-offs and the impact of macroeconomic data.
BTC Resistance: 110,500 USD and 112,000 USD are key resistance levels, and breaking through them may drive the price further up.
BTC Support: 106,000 USD to 107,000 USD is considered a short-term support area, with 106,497 USD as the recent low.
The current quote for ETH is 2,481, with a continuous decrease in daily trading volume, forming a small bullish candle similar to a doji, indicating a lack of clear direction in the short term. The 4-hour chart shows Ethereum compressing in the range of 2,447 USD to 2,630 USD, and a breakout may trigger significant volatility. The price of Ethereum is fluctuating at high levels between 2,500 USD and 2,600 USD, with an unclear short-term direction. A breakout above 2,630 USD is needed to confirm a bullish trend. Institutional accumulation and technological upgrades are long-term positives, but supply expansion and Bitcoin dominating the market may limit short-term gains.
ETH Resistance: 2,730 USD is the recent resistance level, and breaking through it may challenge the range of 2,814 USD to 2,851 USD. The daily chart forms a bullish “flag,” with target resistance at 3,030 USD to 3,040 USD.
ETH Support: 2,447 USD is the key short-term support, and falling below it may test 2,200 USD or lower, in the range of 2,070 USD to 2,168 USD.
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