Bitcoin and Ethereum Market Analysis on May 8th: BTC, ETH Highlights Today
Market Review
Yesterday, BTC maintained a consolidation, with a healthy trend. This morning, it saw a volume-driven increase, breaking through resistance levels, which is a good signal. There will be the latest news announced tonight, so pay close attention. Recently, focus on fundamental information and the Federal Reserve's interest rate reduction process. Observe the breakthrough and stability within the day. If it stabilizes above 98,000, it may continue to rise. On the larger cycle, the weekly golden cross is expected to form, potentially launching a new market trend, so wait patiently
Ethereum followed BTC's synchronous rise, potentially breaking through the oscillation range, with the possibility of catching up with the rise during the day
Altcoins followed mainstream cryptocurrencies with a slight increase, with not a significant range. Consider light follow-up if mainstream coins stabilize. Binance has been hosting frequent activities, with continuous Alpha point events. You can accumulate points and wait for the next round of activities. SOL's on-chain activity continues to rise, so pay attention to meme coins. For coins already held, be patient and wait for market recovery
Today's Highlights:
BTC maintains a healthy level on 1-hour and 4-hour scales, with a healthy daily level. If it stabilizes within the day, it may continue to rise. The lower support is 97,000-97,500, and the upper resistance is 99,500-100,000
ETH maintains a healthy level on 1-hour and 4-hour scales, with a healthy daily level. It may catch up with the rise during the day. The lower support is 1,780-1,830, and the upper resistance is 1,900-1,950
