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The cryptocurrency market once again staged a thrilling scene. Bitcoin (BTC) broke through the $115,000 mark yesterday, immediately triggering massive long positions liquidations, with approximately $400 million in funds evaporating in an instant, and market sentiment plummeting to a low point. However, today the market has demonstrated strong rebound capabilities, reigniting investor confidence.
Bitcoin quickly rebounded to $117,800 after breaking through the support level, a movement that aligns with the expectations of certain technical analysis models. If this pattern continues, the next target may point to the $120,000 range. For investors looking to re-enter, the price around $116,600 may be a level worth noting. However, the gap at the Chicago Mercantile Exchange (CME) has not yet been fully filled, and investors should remain vigilant.
Ethereum (ETH) has not performed as brightly as Bitcoin recently, but the support level around $3,480 remains strong. Currently, ETH may be at the final stage of a large consolidation structure. As long as Bitcoin does not experience a significant fall, the rally for ETH could start at any time. Especially when market funds begin to rotate towards mainstream tokens, ETH's advantages may gradually become apparent.
Other mainstream tokens like Solana (SOL) and Ripple (XRP) also present clear investment opportunities. After finding support at the $178 level, SOL broke through $186 today, demonstrating strong upward momentum.
XRP has recently seen a second bullish crossover signal, the last of which appeared in November 2023, leading to a 580% increase. The emergence of this crossover signal may indicate that XRP has entered a new uptrend cycle. According to historical data, after forming a crossover signal in a bull market, XRP typically takes an average of 73 days to reach its peak.
Overall, although the market may still experience fluctuations in the short term, the overall trend remains positive. Investors should closely monitor the technical indicators and market trends of major coins, while seizing opportunities, they should also be prepared for risk management.