Bitcoin and Ethereum Market Analysis on July 29: BTC, ETH Today's Highlights

Market Review

Yesterday, BTC experienced a slight correction and adjustment, with the 4-hour trend recovering. The support at 118,000 is effective, and if it holds, there is hope for further upward movement. The daily level has recovered well, and the trend has returned to a healthy state. Pay attention to changes in trading volume. The weekly trend has shown some recovery, so keep an eye on fundamental information, including the Federal Reserve's interest rate cut process. The expectation for the day is to remain in a consolidation phase, and in the long term, a new round of upward cycles on the weekly chart has been initiated.

Altcoins have begun independent trends, with a good 4-hour performance, slight corrections, and poised for action. The daily level trend is somewhat aggressive, but currently recovering well, with trading volume remaining healthy. However, the short-term increase has been too rapid, so watch for volume expansion on the 4-hour chart. The expectation for the day is to maintain consolidation, with altcoins following mainstream trends upward.

The altcoin index remains at a moderate level, and market sentiment has somewhat recovered. Pay attention to BTC's market share situation, fiat currency buying signals, and determine altcoin activation signals. Coins under ETH are more impacted by ETH, so it can be considered to follow up. Keep an eye on PENDLE, which shows a good trend and is expected to rise. Recently, Binance has been very active, with continuous Alpha points activities. You can collect points, and there have been many big deals recently, so it's a good opportunity to take advantage of the situation.

Today's Highlights:

BTC's 1-hour and 4-hour levels have returned to normal levels, and the daily level has also returned to normal levels. The expectation for the day is to maintain consolidation, with support at 117,500-118,000 and resistance at 120,000-121,000.

ETH's 1-hour and 4-hour levels have returned to normal levels, and the daily level has entered the overbought zone. The expectation for the day is to maintain consolidation, with support at 3,700-3,750 and resistance at 3,850-3,950.