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The cryptocurrency market has shown significant volatility today. Let's analyze the trends of the major coins together.
Bitcoin (BTC) has experienced the anticipated pullback, with prices touching the support level around $115,000. The daily chart shows a bearish pattern, and the current decline is viewed as a breakdown. A short-term rebound may encounter intraday resistance at $117,000, as well as daily resistance at $118,000. Only a strong breakthrough above $118,000 could lead to further upside. Investors can pay attention to the monthly support levels at $112,000 and $110,000.
Ethereum (ETH) is also facing a daily level breakout situation. $3,750 has become a key resistance point, and if it cannot regain this level, a daily level pullback may begin. Intraday traders should closely monitor this price point, and only a breakout on the four-hour chart can be considered a strong rebound. The resistance levels above are at $3,800, $3,850, and $3,878. If it fails to break through $3,750, it may pull back to support levels at $3,620, $3,570, or $3,520.
Solana (SOL) has shown relatively weak overall performance, with a continuous downward trend on the daily chart. Intraday rebounds may encounter resistance around $175.
Overall, the current market is showing a corrective trend, and investors should remain cautious, closely monitor key support and resistance levels, and flexibly adjust their trading strategies.