Cryptocurrency Market Dynamics Analysis: Multi-Currency Trend Outlook
Yesterday, BTC successfully ended its correction phase and began a new round of upward movement, with its price reaching around 97,000 at its peak, significantly exceeding previous expectations.
It is expected that there will be a slight adjustment and consolidation during the day, followed by continued upward movement, during which the key support level of 94,900 should be closely monitored. Overall, BTC is likely to exhibit a volatile trend throughout the day.
Meanwhile, the second-tier coins are performing even stronger, having broken through the 3,600 price level. From a technical indicator perspective, the golden cross on the 4-hour chart has formed, indicating that the current trend is relatively stable and healthy.
Attention should be paid to the 3,500 support level during the day, and after a brief adjustment, an upward trend is expected to continue, with a possibility of further reaching the 3,700 target.
In terms of altcoins, most are showing a synchronous upward trend with ETH, with many coins experiencing certain gains, especially those within the ETH ecosystem showing significant rebound trends.
It is worth mentioning that BNB is currently in a position to be laid out, as it has not yet truly started its rebound trend; there may be considerable potential and opportunities later, and investors should closely monitor its price dynamics and seize entry opportunities at the right time.
