Recently, the Bitcoin market has shown an interesting trend. For two consecutive days, the price has hovered around $112,500, forming several long lower wicks, indicating active buying at lower levels. Although the short-term moving averages are in a bearish arrangement, the shrinkage of Trading Volume seems to suggest that the downward momentum is weakening. This pullback may just be a natural adjustment of the market and has not harmed the medium to long-term pump trend.

The key support range is between $112,000 and $111,000, formed by the 100-day moving average and previous lows. If it falls below this range, the next support level may be at $107,000 to $110,000. The resistance level above is at $117,000, regarded as the dividing line of bullish and bearish forces. If this resistance is broken, it may trigger short positions to close, pushing the price to accelerate upward to $120,000.

Ethereum also shows resilience. Although the price dipped to $4,062 yesterday, it quickly rebounded. The 4-hour chart has shown a series of long lower wicks, indicating strong buying interest in the $4,000 to $4,100 range. The MACD technical indicator has formed a golden cross, and the price has re-established itself above the EMA30 moving average, suggesting that the upward momentum may restart. From a daily perspective, the recent 8% pullback is considered a healthy correction and has not damaged the upward channel structure established over the past three months.

The key support range for Ethereum is between $4,100 and $4,150, which coincides with the CME futures gap fill level and the upper channel. $4,000 is a strong support level, and if broken, it could trigger a deep pullback to $3,800. The resistance level above is at $4,350, and a breakout could trigger short positions liquidation, pushing the price towards the range of $4,350 to $4,380. If it can firmly stand above this range, there is a possibility of an attempt to reach the historical high of $4,864.

Overall, although the two major cryptocurrencies face some pressure in the short term, the market as a whole still maintains a positive trend. Investors should closely monitor the performance of key support levels while being alert to the rapid rise opportunities that may come from breaking through important resistance levels.