Market Analysis for July 28
BTC continued to rise after breaking through a key resistance level yesterday. The 4-hour and daily charts show a good recovery, with short-term support at 118,000. If it holds, it is expected to continue upward, and the weekly chart indicates the start of a larger upward cycle.
ETH has begun an independent market trend, breaking previous highs. The 4-hour chart shows a golden cross, and the daily chart is healthy. After a short-term pullback, it is expected to continue strengthening.
The altcoin sector is consolidating, with overall sentiment being weak. However, some ETH ecosystem coins like PENDLE have shown signs of starting up, making them suitable for medium-term investments or short-term participation. BNB has reached a new all-time high, and funds are expected to overflow, so keep an eye on unstarted coins within its ecosystem, such as DODO.
Key support and resistance levels for the day: BTC 118,000/121,000, ETH 3,750/4,000.
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