Important Data This Week:
Tuesday: US April CPI data;
Friday: US May One-Year Inflation Rate Preliminary Value
It seems the China-US negotiations went smoothly, and the market can rise with confidence
Federal Reserve June Rate Cut Probability 17.2%, July Rate Cut Probability 51.1%
Market Trend Analysis:
BTC entered a low liquidity moment during the weekend, with good sentiment on Friday and an oscillating upward trend over the weekend. The 4-hour chart shows signs of exhaustion, and I believe it will short-term correct to around 102,500. If it breaks below this range, it might drop to 100,800. Both upper and lower ranges have significant contract liquidations, providing liquidity during market decision points. If the trend is strong, it may oscillate between 105,000-103,000 before breaking to a new high towards 110,000, which typically takes 1-2 days, leaving late buyers to chase the rally.
ETH
This wave is extremely strong, rising continuously for several days, with the daily level not yet topped. However, short-term consolidation is expected, including pullback needs for BTC and smaller levels. Due to the strong momentum, it might experience a high-level sideways movement, providing an opportunity for Altcoins to catch up.
SOL
Weekend turnover rate decreased. Despite low liquidity, SOL did not successfully break through its pressure interval under BTC's positive sentiment and ETH's upward momentum. By 8 AM this morning, chips between 120-157 were still exiting, with low-price chips moving to the 168-176 range, mainly for profit-taking. Other price range chip exchanges were not significant. Moving forward, besides tracking BTC's sentiment, special attention should be paid to SOL's narrative, such as SOL's Microstrategy-like purchases and SOL ETF speculation, which would temporarily boost SOL's sentiment.
Based on each bull market's reaction, MEME coins remain the most imaginative with the highest gains. Top 5 gainers in the past 7 days were MEME coins: $MOODENG: +879%; $NEIRI: +514%; $VADER: +394%; $CHILLGUY: +348%; $GOAT: +274%; $PIPPIN: +198%; $LUNA: +209%; $SIREN: +207%; $PNUT: +192%. Recent old MEME coins have rebounded strongly, especially Moodeng. It has grown tenfold in a month, with main funds gradually shifting from DEX to CEX users. It might not be over - if Binance lists it, another surge could happen. Comparing previous Binance-listed MEME coins, they share a common trait: significant drops, prolonged bottom consolidation, then explosive growth after breaking the oscillation range. This explains the focus on MEME coin exchange listings, as diverse funding and listing increase project revival opportunities.
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