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Bitcoin: High-level Fluctuations, Technical Indicators Show Divergence
In today's trading, Bitcoin's price has shown a pattern of high-level fluctuations. From a technical perspective, on the daily chart, Bitcoin's moving average system shows a certain divergence between bulls and bears. The 5-day moving average and the 10-day moving average remain in a bullish arrangement, indicating that short-term upward momentum still exists, but the flattening of the 30-day moving average suggests that mid-term upward momentum has weakened, placing the market in a relatively balanced state between bullish and bearish forces.
Analyzing the Relative Strength Index (RSI), the current value hovers around 55, indicating that Bitcoin has neither entered the overbought area nor reached the oversold range, remaining in a relatively stable state. However, the Bollinger Bands indicator shows that Bitcoin's price has touched the middle band, and the opening of the Bollinger Bands is gradually narrowing, which is usually a signal that the market is about to choose a direction, potentially leading to significant price volatility in the future. If the price can break through the upper band, it is expected to initiate a new round of upward movement; conversely, if it falls below the lower band, it may face a certain degree of correction.
On the news front, recent reports indicate that U.S. President Trump signed an executive order requiring the U.S. Department of Labor to explore allowing 401(k) pension plans to invest in cryptocurrencies. This news has been interpreted by the market as a long-term positive, bringing potential massive capital inflows into the Bitcoin and other digital currency markets, attracting more investor attention. However, U.S. Treasury Secretary Yellen's comments regarding Bitcoin reserves have also triggered market fluctuations. She stated that the U.S. government would not make new Bitcoin purchases, and although her subsequent statements softened the stance, it still affected the sentiment of some investors, leading to a certain degree of caution in the market.
Ethereum: Following the Market, Ecological Development as a Potential Positive
Ethereum's price today has largely followed Bitcoin, showing a fluctuating trend. From a technical standpoint, Ethereum's 4-hour candlestick chart shows that the MACD indicator is operating above the zero axis, but the histogram bars are gradually shortening, indicating that while bullish forces dominate, they are gradually weakening. The KDJ indicator is in the overbought area, with signs that the three lines may turn downward, suggesting a potential need for a correction in the short term.
In terms of support and resistance levels, Ethereum's current price is fluctuating around $4,400, with $4,300 being a significant short-term support level. If the price falls below this level, it may further test $4,200; on the upside, $4,500 is a key resistance level, and if successfully broken, it may challenge $4,600 or even higher prices.
On the news front, the continuous development of the Ethereum ecosystem has become a significant potential positive. With more decentralized applications (DApps) being built and operated on the Ethereum platform, along with the gradual advancement of Ethereum 2.0, its application value in the digital currency field is continuously increasing. For example, some large financial institutions have recently begun exploring financial innovation projects based on the Ethereum blockchain, providing strong support for Ethereum's long-term development. Additionally, the inflow of funds into Ethereum's spot ETF is also continuously increasing, indicating that institutional investors' recognition of Ethereum is on the rise.
The market trends of Bitcoin and Ethereum today show a fluctuating pattern under the combined influence of technical and news factors. For investors, it is essential to closely monitor changes in technical indicators and market news dynamics, making cautious investment decisions. After all, the digital currency market is characterized by high uncertainty and risk, and while seizing opportunities, it is crucial to focus on risk prevention.
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