Bitcoin and Ethereum Market Analysis on May 24th: BTC, ETH Highlights Today
Market Review
Yesterday, BTC retraced and consolidated, with a significant pullback due to tariff impacts, market confidence was dampened, and a mild top divergence appeared on the daily chart. The retracement and consolidation are acceptable, with the weekly trend remaining healthy. Focus on fundamental information, the Federal Reserve's interest rate cuts, and maintain a wait-and-see approach during the day. Those who previously reduced positions can wait for entry opportunities. On the larger cycle, the weekly golden cross has formed, and a new round of market movement is expected to start
The second coin followed BTC's synchronized pullback, maintaining a healthy trend. Wait for BTC to stabilize, maintain a wait-and-see approach during the day, and the upward trend remains unchanged if it does not fall below 2400
Altcoins synchronized with mainstream coins' pullback, market sentiment is low, and the altcoin index has pulled back to a lower level. Consider following up when mainstream coins stabilize, focus on meme, ETH track coins. Binance has frequent activities recently, with continuous Alpha point events. You can accumulate points and wait for the next event. SOL's on-chain activity continues to rise, and MEME coins are worth paying attention to
Today's Highlights:
BTC returns to a healthy range at 1-hour and 4-hour levels, daily level returns to a healthy range, expected to consolidate during the day, with lower support at 106,000-107,000 and upper resistance at 109,000-110,000
ETH returns to a healthy range at 1-hour and 4-hour levels, daily level returns to a healthy range, expected to consolidate during the day, with lower support at 2,400-2,450 and upper resistance at 2,650-2,700
