Crypto Market Analysis

加密货币市场分析

The leading cryptocurrency, Bitcoin, has fallen for four consecutive days, disrupting the bullish sentiment initiated by Ethereum earlier this week amidst the development of Spot ETH ETF. The U.S. Securities and Exchange Commission (SEC) has recently approved Form 19b-4 applications for eight notable Ethereum exchange-traded funds (ETFs), as reported by Wu Blockchain.

领先的加密货币比特币已连续四天下跌，扰乱了以太坊本周早些时候在现货 ETH ETF 发展过程中发起的看涨情绪。据 Wu Blockchain 报道，美国证券交易委员会 (SEC) 最近批准了八只著名以太坊交易所交易基金 (ETF) 的 19b-4 表格申请。

Spearheaded by industry giants such as BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton, these ETFs are yet to activate their S-1 registration statements before trading can commence. Although the timeline for this final approval phase remains uncertain, Bloomberg analyst James Seyffart estimates that the process could span several weeks. This development marks a significant step forward in the integration of cryptocurrency into mainstream financial services.

这些 ETF 由 BlackRock、Fidelity、Grayscale、Bitwise、VanEck、Ark、Invesco Galaxy 和 Franklin Templeton 等行业巨头带头，在交易开始前尚未激活其 S-1 注册声明。尽管最终批准阶段的时间表仍不确定，但彭博社分析师 James Seyffart 估计该过程可能会持续数周。这一发展标志着加密货币融入主流金融服务迈出了重要一步。

Thus, the ETH price shows notable resilience; the $3650 level of other altcoins like Pepe coin (PEPE) and Lido DAO (LDO) signals an opportunity for a prolonged rally.

因此，ETH 价格表现出显着的弹性； Pepe coin (PEPE) 和 Lido DAO (LDO) 等其他山寨币的 3650 美元水平标志着长期反弹的机会。

1) Ethereum (ETH)

1）以太坊（ETH）

Ethereum is a decentralized, open-source blockchain system that features its own cryptocurrency, Ether (ETH). It stands out as a foundational platform in the blockchain ecosystem due to its pioneering of smart contracts—self-executing contracts with the terms of the agreement directly written into code.

以太坊是一个去中心化的开源区块链系统，拥有自己的加密货币以太币（ETH）。它因其开创了智能合约（将协议条款直接写入代码的自动执行合约）而成为区块链生态系统中的基础平台。

Last week, Ethereum (ETH) began its recovery phase after a strong bounce from the $2860 monthly support level. This bullish reversal led to a more than 30% increase in its value, with the coin now trading at around $3696. Concurrently, Ethereum's market capitalization rose to $443.6 billion. This recovery gained notable momentum following the development around Spot ETH ETF.

上周，以太坊 (ETH) 从 2860 美元的月度支撑位强劲反弹后开始了复苏阶段。这种看涨逆转导致其价值上涨超过 30%，目前该代币的交易价格约为 3696 美元。与此同时，以太坊市值升至 4436 亿美元。随着现货 ETH ETF 的发展，这种复苏获得了显着的势头。

While the broader market showed a notable sell-off this week, the ETH price sustained above $3650 indicating the active buying pressure from below. The aforementioned level may act as a suitable support for ETH to push its next recovery leap to $4090, followed by $4430.

尽管本周大盘出现明显抛售，但 ETH 价格维持在 3650 美元上方，表明下方存在积极的买盘压力。上述水平可能会成为 ETH 的合适支撑，推动其下一次反弹跃升至 4090 美元，随后是 4430 美元。

2) Pepe Coin (PEPE)

2）佩佩币（PEPE）

Pepe Coin (PEPE) is a cryptocurrency that capitalizes on the viral internet character Pepe the Frog, positioning itself within the meme coin category alongside others like Dogecoin and Shiba Inu. PEPE operates as an ERC-20 token on the Ethereum blockchain, which is known for its security provided by the Proof-of-Stake consensus mechanism.

佩佩币（PEPE）是一种加密货币，利用了病毒性网络人物佩佩青蛙，将自己与狗狗币和柴犬等其他货币一起定位在模因币类别中。 PEPE 作为以太坊区块链上的 ERC-20 代币运行，以太坊区块链以其由权益证明共识机制提供的安全性而闻名。

The PEPE price has been riding a steady rally for the past six weeks under the influence of an ascending trendline. A recent reversal from this support on May 20th has propelled the asset 54% to trade at the $0.0000138 mark currently. As per CoinMarketcap, the Pepe coin holds a market cap of $5.93 Billion, while the 24-hour trading volume is at $3.9 Billion.

过去六周，在上升趋势线的影响下，PEPE 价格一直稳步上涨。最近 5 月 20 日这一支撑位的逆转已推动该资产 54% 目前交易至 0.0000138 美元大关。根据 CoinMarketcap 的数据，佩佩币的市值为 59.3 亿美元，而 24 小时交易量为 39 亿美元。

The Support/Resistance indicator— Pivot level shows the rising PEPE price may witness overhead supply at $0.0000165 and $0.0000189, while the support levels are at $0.0000108, and $0.00000109.

支撑/阻力指标 — 枢轴水平显示 PEPE 价格上涨可能会出现 0.0000165 美元和 0.0000189 美元的间接供应，而支撑位为 0.0000108 美元和 0.00000109 美元。

3) Uniswap (UNI)

3）Uniswap（UNI）

Uniswap (UNI) is a leading decentralized finance (DeFi) protocol known for facilitating automated trading of decentralized tokens on the Ethereum blockchain. It distinguishes itself through the use of a unique trading model called an automated liquidity protocol, where users pool their assets to form liquidity pools.

Uniswap (UNI) 是一种领先的去中心化金融 (DeFi) 协议，以促进以太坊区块链上去中心化代币的自动交易而闻名。它通过使用一种称为自动流动性协议的独特交易模型而脱颖而出，在该模型中，用户汇集其资产以形成流动性池。

Over the last five weeks, the UNI price has predominantly fluctuated within a narrow range between $8.35 and $6.6. This lateral movement occurs at a critical support juncture, marked by the 78.6% Fibonacci retracement level and an ascending trendline (illustrated by the blue line), signaling a significant accumulation zone.

过去五周，UNI 价格主要在 8.35 美元至 6.6 美元之间的窄幅波动。这种横向运动发生在关键支撑位，以 78.6% 斐波那契回撤位和上升趋势线（如蓝线所示）为标志，标志着一个重要的吸筹区域。