Yesterday's Market Review
BTC experienced a slight upward movement yesterday, with the trend aligning with expectations. The 4-hour structure remains solid, and today volume is starting to increase, indicating sustained upward momentum. The daily trend is healthy, with a golden cross formed in the moving averages, suggesting a new upward cycle may be about to begin. The weekly structure is also stable, and macro factors—especially the Federal Reserve's interest rate cut rhythm—should be monitored. In the short term, pay attention to resistance around the 123000 level. From a long-term perspective, the weekly chart may have entered a new upward cycle.
ETH performed independently of BTC yesterday, with a solid 4-hour structure, although a slight bearish divergence signal has appeared. If the volume can be maintained, a continuation of the upward trend is expected. The daily trend is healthy, with a golden cross formed in the moving averages, and the conditions for a new upward cycle are similarly present. In the short term, the main trend remains a fluctuating upward movement.
The altcoin sector is generally following the mainstream upward trend, with the altcoin index experiencing a slight pullback, while market sentiment shows minor recovery. It's important to monitor changes in BTC's market share and fiat currency inflow signals, as these will be important references for the initiation of altcoin trends. Tokens within the ETH ecosystem are clearly influenced by ETH, among which PENDLE has broken through with increased volume, and its trend continuity is promising. Recently, Binance has been active, and the Alpha points activity continues to release, allowing for moderate participation for additional gains.
Intraday Market Analysis
BTC: The 1-hour and 4-hour charts have entered the overbought zone, while the daily chart remains at a normal level. In the short term, an upward continuation is expected, with support at the 119500-120000 range and resistance at 123000-125000.
ETH: The 1-hour and 4-hour charts have also entered the overbought zone, and the daily chart is similarly overbought. In the short term, a continued upward push is expected, with support at 4150-4200 and resistance at 4400-4500.
Continuously monitor: BTC ETH COL OULLA
