Bitcoin and Ethereum Market Analysis on May 10th: BTC, ETH Highlights Today
Market Review
Yesterday, BTC rose and stabilized at a high level, successfully standing firm above 100,000, which is a good signal. The trend remains healthy. In the near term, focus on fundamental information and the Federal Reserve's interest rate reduction process. Intraday expectations are for sideways consolidation and a recovery trend. On the larger cycle, the weekly golden cross is about to form, and a new round of market movement is expected to be launched
The secondary market followed BTC's synchronous rise, continuing to make up for lost ground, with a relatively steep trend. Intraday expectations are for sideways consolidation, and further rise is anticipated after stabilization
Altcoins followed mainstream cryptocurrencies in a synchronized rise, with most coins showing significant gains. However, the market situation remains subdued. After mainstream coins stabilize, consider following. Binance has been hosting frequent activities, with ongoing Alpha point events where points can be accumulated while waiting for the next round of activities. SOL's on-chain activity continues to rise, and it's worth paying attention to MEME coins. For existing holdings, patience is advised while waiting for market recovery
Today's Highlights:
BTC is in the overbought zone at 1-hour and 4-hour levels, and also in the overbought zone at the daily level. Intraday expectations are for sideways consolidation. Intraday support is 101,000-102,000, with resistance at 104,000-105,000
ETH is in the overbought zone at 1-hour and 4-hour levels, and also in the overbought zone at the daily level. Intraday expectations are for sideways consolidation. Intraday support is 2,200-2,250, with resistance at 2,400-2,500
