Bitcoin and Ethereum Market Analysis on May 9th: BTC, ETH Highlights Today
Market Review
BTC continued to rise yesterday, with continued volume increase this morning, successfully breaking through the 100,000 mark, which is a good signal. The market partially regained confidence after yesterday's announced tariff adjustments. In the near term, focus remains on fundamental information and the Federal Reserve's interest rate reduction process. Intraday attention is on stabilizing at 100,000, with potential for further rise if stabilized. On the larger cycle, the golden cross on the weekly chart is expected to form, potentially launching a new market trend
Ethereum followed BTC's synchronized rise, with significant volume increase and steep trend. Intraday focus is on stabilizing between 2,100-2,200, with potential for continued rise if stabilized
Altcoins synchronized rise with mainstream cryptocurrencies, with Ethereum series showing larger gains. Mainstream coins stabilizing can be considered for light follow-up. Binance has frequent activities, with ongoing Alpha point events where points can be accumulated while waiting for the next event. SOL's on-chain activity continues to rise, with recommended focus on MEME coins and patience for existing positions awaiting market recovery
Today's Highlights:
BTC is in overbought territory at 1-hour and 4-hour levels, also in overbought territory on the daily chart. Potential for continued rise if support is maintained, with lower support at 101,000-102,000 and upper resistance at 104,000-105,000
ETH is in overbought territory at 1-hour and 4-hour levels, also in overbought territory on the daily chart. Intraday focus on support situation, potential for catch-up rise if stabilized, with lower support at 2,100-2,150 and upper resistance at 2,330-2,450
