Bitcoin has been hovering around $107,000 recently, retracing to this key support level as the market expected. It is noteworthy that the price has not fallen below this level; instead, a rebound has occurred, indicating that the short-term adjustment may have ended. It is expected that market fluctuations will be relatively calm over the weekend, with the next resistance level above around $111,000, showing an overall oscillating upward trend.
Ethereum's upward momentum has significantly weakened since it fell below $4,460. It is currently oscillating around the support level near $4,360. From the hourly chart perspective, a stronger upward trend is only likely to occur if it can regain the key position of $4,460. Before that, it is expected to maintain a range-bound trend, which also aligns with the characteristics of light trading over the weekend.
Solana once provided a good entry opportunity for investors around $180, and after reducing positions around $214, the current price has attracted attention again. For investors without positions, it may be worth considering establishing a position near $200; existing investors may consider increasing their holdings around $194.
Reminder to everyone, the market may be relatively calm during the weekend, so it's advisable to take a good rest. However, special attention should be paid to the unemployment rate and non-farm payroll data that will be released next Friday, as these important economic indicators are likely to trigger significant fluctuations in the market.
Overall, the current cryptocurrency market is showing a trend of fluctuation and consolidation. Investors should remain vigilant and closely monitor important support levels and resistance levels, while also paying attention to the potential impact of macroeconomic data on the market. When making investment decisions, it is essential to carefully assess risks and allocate assets appropriately.
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GhostWalletSleuth
· 08-30 17:50
It feels like the market is just playing with mentality.
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DataPickledFish
· 08-30 17:46
I'll take a look at this wave first and then talk.
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MetaMaximalist
· 08-30 17:44
quite amusing how the retail crowd still doesn't grasp basic market mechanics... this is textbook price action
Bitcoin has been hovering around $107,000 recently, retracing to this key support level as the market expected. It is noteworthy that the price has not fallen below this level; instead, a rebound has occurred, indicating that the short-term adjustment may have ended. It is expected that market fluctuations will be relatively calm over the weekend, with the next resistance level above around $111,000, showing an overall oscillating upward trend.
Ethereum's upward momentum has significantly weakened since it fell below $4,460. It is currently oscillating around the support level near $4,360. From the hourly chart perspective, a stronger upward trend is only likely to occur if it can regain the key position of $4,460. Before that, it is expected to maintain a range-bound trend, which also aligns with the characteristics of light trading over the weekend.
Solana once provided a good entry opportunity for investors around $180, and after reducing positions around $214, the current price has attracted attention again. For investors without positions, it may be worth considering establishing a position near $200; existing investors may consider increasing their holdings around $194.
Reminder to everyone, the market may be relatively calm during the weekend, so it's advisable to take a good rest. However, special attention should be paid to the unemployment rate and non-farm payroll data that will be released next Friday, as these important economic indicators are likely to trigger significant fluctuations in the market.
Overall, the current cryptocurrency market is showing a trend of fluctuation and consolidation. Investors should remain vigilant and closely monitor important support levels and resistance levels, while also paying attention to the potential impact of macroeconomic data on the market. When making investment decisions, it is essential to carefully assess risks and allocate assets appropriately.