Market review and analysis
Last week, it was emphasized that the market was about to enter a new phase, especially with ETH showing strong bullish signals at the 4200 point. In last Friday's market, that surge directly took off, rising from the support position of 4200 to over 4800. During the weekend, it reached a historical new high, which basically aligned with the expectations mentioned at that time. The BTC market, on the other hand, was relatively weak, with the expected level around 1185, but it only managed to touch around 1175 before pulling back. Especially in today's early trading, it directly dipped over 4000 points. This market is quite erratic, clearly aimed at liquidating contracts. This week's key focus can still be on the altcoin trends, particularly SOL, DOGE, WLD, and JTO. This Tuesday, the market is expected to continue rising, but the current momentum is still insufficient, and the liquidity of altcoins has not yet picked up, leading to a relatively weak market trend with not much increase.
Today's and this week's highlights interpretation
The BTC intraday pin was near the 110,000 position. In the four-hour level's closing candle, the 110-112 range has already established clear support points. Last week, there was continuous attention on the 112 position for a rebound, aiming to stabilize around 116-118, but the highest was only around the 1175 level, without a direct breakthrough and stabilization at the 118 position, indicating a relatively weak trend. Therefore, in this stage, the market can again focus on the 116-118 resistance range this week. Only by breaking and stabilizing above 1185 will the space open up to continue rising to the 120-122 range. This week is also the month-end closing, so let's see how strong the last rebound will be.
The ETH market performance has been relatively strong. Last week, it directly broke through the support at 4200 for a while and stabilized at around 4600, reaching new highs. During the weekend, it directly hit a historical new high. Currently, in the four-hour level, it is showing an up-and-down pin performance. The focus this week is to pay attention to a support defense position at 4600, which is the previously noted resistance point. If it moves up, it will open up space, so now, stabilizing means needing to pay attention to this position for support. The focus is on the 4660-4600 range. As long as the market continues to stabilize above 4850 this week, the space will open again towards the 5000-5300 range.
In terms of altcoins, still pay attention to the trends of DOGE, SOL, WLD, and JTO, with a focus on DOGE and SOL. It is expected that there will be a good upward trend this week, so manage your holdings well.
