Bitcoin and Ethereum Market Analysis on May 21st: BTC, ETH Highlights Today
Market Review
Yesterday, BTC maintained a consolidation, with no critical fundamental information, testing the 107,000 resistance level in the early morning. A slight top divergence appeared on the daily chart, but no significant downtrend was seen. The weekly trend remains healthy. Pay attention to fundamental information and the Federal Reserve's interest rate cut process. Consider moderately reducing positions during the day without completely selling out. Observe changes in trading volume, with potential for continued growth. On the larger cycle, the weekly golden cross has formed, suggesting the possibility of a new market trend starting
Ethereum followed BTC in synchronous consolidation, maintaining a healthy trend. A low divergence has been observed on the 4-hour chart, with potential for an upward movement during the day. Consider gradual entry
Altcoins followed mainstream cryptocurrencies in synchronous consolidation. Market sentiment remains low. Consider following mainstream coins after stabilization. Pay attention to meme track coins. Binance has been hosting frequent activities, with ongoing Alpha point events. You can accumulate points while waiting for the next event. SOL's on-chain activity continues to rise, making MEME coins worth monitoring
Today's Highlights:
BTC maintains a healthy level on 1-hour and 4-hour charts, returning to a healthy level on the daily chart. Potential for upward movement during the day. Lower support at 104,000-104,500, upper resistance at 107,000-108,000
ETH maintains a healthy level on 1-hour and 4-hour charts, returning to a healthy level on the daily chart. Potential for upward movement during the day. Lower support at 2,400-2,450, upper resistance at 2,600-2,700
