Recent Trend Analysis of BTC, ETH, SOL, TON, and BNB: A Tug of War Between Bulls and Bears, Caution is AdvisedBTC has recently shown weakness, mainly trading sideways over the past week. Bulls and bears are locked in a tug of war around the $60,000 mark
Recent Trend Analysis of BTC, ETH, SOL, TON, and BNB: A Tug of War Between Bulls and Bears, Caution is Advised
BTC has recently shown weakness, mainly trading sideways over the past week. Bulls and bears are locked in a tug of war around the $60,000 mark. The $63,000 resistance level has not been broken, maintaining a B-wave pullback scenario. Support sits at $57,500. Due to the extended period of consolidation in this range, if the $57,500 support level is breached, the price will likely retest $53,000. Investors who are already in should watch the $57,500 level for defense; if it breaks, exit and wait for the price to pullback below $53,000 before re-entering.
ETH failed its attack on $2,800 last night, and we expect it to consolidate before mounting another attempt. Support is at $2,500. Current holders should watch this level for defense. Stay in if it holds; if it breaks, exit and wait. If Ether breaks below $2,500, there is a high probability that the B-wave will form a small double bottom pattern. You should wait until $2,200 to re-enter.
SOL has also been weak recently, making an upward V-shaped rebound quite difficult. SOL holders need to monitor the $140 support level. If it falls below $140, exit immediately. After breaking below $140, the B-wave will likely retest $120 for another small double bottom. You can then enter at $120 to try to profit from the C-wave rebound.
TON faced significant selling pressure above $7, encountering resistance twice above this level in the first half of the year, before finally breaking through on the third attempt. Investors who entered below $5 should continue to use $6 as their support level. Hold as long as the price remains above this level. Of course, if the current 30% profit is satisfactory, you can always choose to exit. If the price falls back to $6, your profit will be reduced to just over 20%. There is always a trade-off.
BNB is currently in a similar situation to Ethereum. The coin needs to break the $550 resistance level to see a brighter future. Based on its low point, there are signs of high-level stagnation. Current holders should watch the $500 support level for defense. As long as its not lost, theres still a chance of challenging $550. If the support level is broken, exit immediately.
Conclusion: The overall market is currently in a consolidation phase, with a stalemate between bulls and bears. Investors should remain cautious, closely monitor market developments, and take timely profits and stop losses to avoid excessive chasing of upswings and downswings.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investing involves risk and you should proceed with caution.
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