Market Analysis for BTC and ETH on 7.22: BTC, ETH Highlights Today
Market Review
Yesterday, BTC continued to consolidate, with a good 4-hour recovery, and the downward momentum began to weaken, showing potential for further growth. The daily level still needs adjustment, market sentiment is good, but MACD formed a death cross. Pay attention to volume changes, with weekly trend showing some recovery. Focus on fundamental information, Federal Reserve's interest rate cut process. Intraday expectation is sideways consolidation, with a new weekly upward cycle starting in the larger timeframe
The second pie started an independent trend, with 4-hour rally blocked, showing divergence pattern, and needing further consolidation. Daily level trend is relatively extreme, volume remains healthy, but short-term gains are too rapid, requiring adjustment. Intraday expectation is sideways consolidation
Altcoins are rising in sync with mainstream trends. Altcoin index begins to rise, with most altcoins experiencing general growth. Market sentiment recovers, no longer affected by BTC correction. BTC market dominance starts to decline, liquidity begins to shift. ETH-related coins are heavily influenced by ETH and can be considered for follow-up. Pay attention to Pendle, with a good trend and potential for growth. Recent Binance activities are frequent, with ongoing Alpha points activities. Points can be accumulated, and there are many opportunities for rewards
Today's Highlights:
BTC 1-hour and 4-hour levels return to normal, daily level above normal. Intraday expectation is continued consolidation. Intraday support at 115,500-116,000, resistance at 118,000-118,500
ETH 1-hour and 4-hour levels enter overbought zone, daily level also in overbought zone. Intraday expectation is sideways consolidation. Intraday support at 3,550-3,650, resistance at 3,750-3,800
