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The slight rebound of Ethereum and Bitcoin over the past half month is nearing its end, and market sentiment may soon shift. A careful look at the daily charts of mainstream coins reveals the clues—Dogecoin is stuck around 0.15, Solana has yet to stabilize above 150, and the gains over this half month have been mainly dominated by Bitcoin and Ethereum.
What is the problem? The real flow of funds. On the surface, it appears to be a broad rebound, but in reality, key funds are only concentrated in two leading coins, attracting more participants to buy in at high levels. More importantly, there is technical resistance—Bitcoin is still fluctuating around 97,000 and has yet to break through the 100,000 mark; Ethereum is also cooling off around 3,500. Whether these two hurdles can be overcome will determine the direction of the subsequent market.
Once these key resistance levels are broken, the start of next week is very likely to be a deep correction. Bitcoin may fall below 80,000, and Ethereum might test support around 3,000. The market always teaches participants lessons through repeated experiences, and the importance of technical resistance levels lies precisely here.