Crypto Market Insights for Thursday: BTC, ETH, and Altcoin AnalysisThe US Core PCE data is set to be released, and Binance founder CZ is back, which could lead to further fluctuations in the crypto market. Yesterday, the market experienced a slight pullback with major coins like BTC and ETH hitting intraday support levels
Crypto Market Insights for Thursday: BTC, ETH, and Altcoin Analysis
The US Core PCE data is set to be released, and Binance founder CZ is back, which could lead to further fluctuations in the crypto market. Yesterday, the market experienced a slight pullback with major coins like BTC and ETH hitting intraday support levels. How will the market play out today on Thursday? This article will analyze the trends of BTC, ETH, and altcoins.
BTC Analysis
BTC touched intraday support near $62,600 yesterday and has not yet broken through. It is expected to see a minor rebound in the intraday timeframe. As for resistance, it's best to focus on the $64,000 high point for now. If the price breaks below $62,600 in the intraday timeframe, pay attention to the support levels at $61,200 - $60,600, which are minor supports on the daily timeframe and also represent the minor retracement support over the past three days.
ETH Analysis
ETH also just touched intraday support near $2560. The short-term resistance level to watch for in the intraday timeframe is around $2630. The key support level to pay attention to currently is the $2480 - $2520 range. If this level is broken, the downside space will expand, and the price could move towards the $2360 - $2400 range.
Altcoin Analysis
On the altcoin front, OMNI has shown strong performance. For other altcoins, there is no need to say much. Those who followed the earlier strategy and are in positions should manage their profit-taking carefully. Those who are currently holding zero positions should continue to wait and not try to chase the market.
Summary
Overall, the market is expected to experience a minor rebound today. However, it is important to note that if BTC falls below $62,600, a deeper retracement may occur. Regarding ETH, a break below the $2480 - $2520 range could lead to a larger downside movement. For altcoins, investors who have already entered positions are advised to manage their profit-taking, while those holding no position should continue to wait.
Disclaimer: The above content is for informational purposes only and should not be considered investment advice. Investing involves risk, and you should proceed with caution.
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