#ETH Today is Wednesday, January 29, 2025, the first day of the Chinese lunar calendar. I would like to wish all my cryptocurrency friends a happy new year.

Today is the first day of the Chinese lunar new year of the Snake. I wish all friends a happy new year, good health, smooth career, and great wealth. May be a year of prosperity for everyone! Regardless of the ups and downs of the market in the past year, I am grateful for the support of every friend who has been with me all the way. It is your support that gives me more motivation to share and grow. In the new year, I hope we can all embrace every opportunity in the market with a clearer mindset and firmer belief.
Overnight, US stocks opened high and rose, with all three major indexes closing higher. The Nasdaq rose more than 2.03%, the S&P 500 rose 0.92%, and the Dow rose 0.31%. Most large technology stocks rose, with Nvidia surging nearly 9%. The cryptocurrency market fell across the board and once again formed a box pattern, with some altcoins still in a weak consolidation phase!
Bitcoin rose and fell yesterday, with a high test of 103,768 and a retreat under pressure. In the evening, it formed a door shape again as the US stock funds withdrew, with a low test of 100,225 and a rebound. In the short term, the market is showing a downward trend with fluctuations. The price encountered resistance around 103,500 and failed to break through multiple attempts, while gaining support around 100,000, but the support is relatively weak. The Bollinger Bands indicator shows that the price is between the middle track and the lower track, indicating a relatively weak market and the middle track has a suppressing effect on the price. The expansion of the Bollinger Bands indicates that market volatility may increase. In the morning, pay attention to the retest of the upper resistance, break through and progress accordingly. If blocked, the price may continue to consolidate around the bottom box and wait for news stimulation to break through. Ethereum is being tested in sync with Bitcoin!