After the big coin surged above 94,000, it started to pull back, which is now considered a normal short-term correction. Last night's wave of liquidation saw a total of 93,488 people globally being liquidated, with a total liquidation amount of $267 million.
In the four-hour chart, the MACD momentum is shrinking, and the indicators are converging, indicating that the upward momentum isn't as strong as before; in the short term, it's necessary to shake off some profits.
Support is initially seen at 91,500; if it can't hold, the sentiment will be a bit weak. The real key still lies at the integer level of 90,000; as long as it remains stable, the bullish structure won't be broken. The resistance above is still at 94,200, and it won't be easy to push through here in the short term.
Ethereum is moving along with the big coin but at a steadier pace. Currently, the four-hour chart is consolidating with reduced volume, and both buying and selling are not aggressive, which is considered a relatively healthy oscillation. The initial support below is at 3,080, and if it goes lower, the critical threshold is 3,000; as long as it can hold, there will still be opportunities to move up. The resistance above is seen at 3,200—3,250, and in the short term, it will likely fluctuate back and forth within the range of 3,080—3,250.
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