Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
Ladies and gentlemen, let's talk about tonight's market outlook.
To be honest, this recent correction has brought many coins down to reasonable levels. We won't dwell on BTC and ETH, but the key focus is on the hot spots PEPE and DOGE. From a technical perspective, they have basically completed a healthy retracement. Now it's a phase of waiting — the market is confirming the next direction of the overall trend. If you're interested in the current levels, you can try your luck in moderation.
**Focus on BTC**
From multiple timeframes: the 1-hour chart still shows an upward momentum, the 6-hour chart is beginning to loosen, showing signs of an upward trend, but the daily chart is still in a downtrend. What does this mean? There may be short-term fluctuations, but mid-term signs of strength are emerging.
In terms of trading strategy, the short-term approach is mainly long positions, but act quickly — take profits and cut losses fast, don’t be greedy. The medium-term position is a bit tricky, as we're at a turning point; it's best to watch and avoid reckless moves. Long-term players can consider building positions gradually on retracements like this, but remember to manage risk properly.
Key support levels are: 90,000, 88,800, 86,600, 85,300. Resistance levels are: 91,500, 92,700, 94,500, 95,500.
**ETH's rhythm is basically similar**
ETH's performance is similar to the big brother — short-term momentum is releasing, mid-term shows signs of strengthening, but long-term is still in adjustment. So the trading logic is also similar: quick trades in the short term, observe in the mid-term, and gradually build positions in the long-term.
ETH support levels: 3,060, 3,000, 2,920, 2,820. Resistance levels: 3,170, 3,230, 3,300, 3,350.
Overall, this stage is about waiting for confirmation. Multiple coins seem to have retraced to suitable levels; it all depends on whether the overall market can establish a clear upward trend next. Be patient and avoid chasing highs.