From the perspective of recent band analysis and volume structure, BTC and ETH are in a stage of shock and tug-of-war. Although the market volatility is not large on the surface, they are actually close to key support and resistance levels, and investor sentiment is also in a tense state.
BTC has been oscillating in the range of 29900-30000 for some time. The amplitude of oscillation is gradually narrowing, the trading volume is obviously decreasing, and the pressure is also decreasing. If BTC can steadily fall below the support level of 29900, it will mark the end of the oscillation and mean entering the downward channel. At that time, the bears will dominate and the price may face the pressure of accelerating decline. However, if BTC can hold this level, there is still a chance that it will continue in a narrow range for a period of time and wait for the next wave of rising market. In this case, we can formulate corresponding response strategies based on 29900 as the watershed.
ETH has recently shown a technical pattern of sideways fluctuations and double tops. In the range of 1880-1910, the pressure from above gradually increased, and the market sentiment gradually became pessimistic. However, the fundamentals have not changed substantially. As the direction of the next wave of BTC is established, ETH is likely to follow closely, either falling sharply or showing a strong rise. From a technical point of view, as long as the support level of 1880 is not broken, it is still expected to fluctuate sideways in a narrow range in the short term. But if this support level is broken, further adjustments will be difficult to avoid.
In summary, the trend of ETH at this stage will completely depend on the changes in BTC. At this stage, you should wait and see and do not intervene too early. At the same time, it should be noted that investment decisions should be based on a more comprehensive and accurate market analysis, not just relying on technical indicators.
