10.14 Market synchronously weakens? Technical analysis of BTC, ETH, and SNDK SOL.

CN
1 hour ago

BTC is currently in a fluctuating recovery trend within an ascending channel, combined with a Fibonacci retracement structure, with the current price fluctuating around the 50% retracement level of approximately 83539. In the short term, we first look for a rebound to test the upper trend line resistance (around 84000). If the rebound is unable to stabilize under resistance, it is highly likely to extend the downward retracement; the first support below is 82794 (38.2%), with strong support at 81873. The overall structure is a continuation fluctuation after a rebound, leaning towards a weak oscillating pattern.

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ETH is moving in correlation with BTC but is relatively weaker, currently operating in a range oscillation. The low point support is around 2405, with short-term pressure above at 2600-2580. It is predicted that there will first be a small rebound to test the resistance level, and if it encounters resistance, there is a possibility of testing the low points again, which belongs to a weak range consolidation, maintaining an oscillating mindset before breaking through.

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SNDK has already broken the previous long-term upward trend line, confirming resistance upon a rebound. If the price does not bounce back above the previous trend line, expect a continuation of the downward trend, shifting the trend from bullish to bearish, with short-term pressure at 1530-1580.

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SOL is also running within a descending channel, with a minor rebound opportunity in the short term. After the rebound touches the upper channel resistance around 112-116, it is expected to continue to encounter pressure and fall back, belonging to a rebound repair within the descending channel.

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This is a personal opinion for reference only.

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