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Here is the short summary of the Altcoins market based on the current market condition.
This is based on the daily charts not some small timeframes. It's just my reviews of the market and purely for educational purposes.
Current picture ( Screenshot 1) Most of the Altcoins broke below important daily zone. That means if you were bullish when price was holding above that, now you don't have any reason to be.
So what can you do in such situation? it leaves you with 2 scenarios. (Second screenshot)
Scenario 1: Like i said price have broken below a key zone and as long as price doesn't reclaim back above the broken zone you don't have to be bullish and expect that prices can go for a new low again.
Scenario 2: If you're bullish or holding some Altcoins. Your only bullish confirmation is when prices will reclaim those broken zones.
Remember you only make money when you trade what you see on the charts not what you think will happen.
$WIF Nothing good in it as long as price doesn't reclaim $1.7 Remember when i said, The problem with the memecoins is there is always a new one entering the market. This is the only reason i see why most of the memecoins are slowly bleeding down. People get more options every day.
$TRUMP Taking some breathe after so much hype and drama. It would be better if price build some base here before it starts to move again. $25 is an important support to hold imo.
And lets not forget only 30% supply is out. I know there are so many of you want to spend your life savings on it. Keep in mind it's just a meme coin.
$RENDER I talked about it before that the chart looks weak as it broke an important daily zone. Not sure if i'll get it but dip into $4.5-$4.70 can be a good deal. Might be possible it goes for a bounce first as market showing some strength since powell conference.
$ADA Just in a wide daily range, The structure is still bullish. As long as it's holding up the structure i think cardano looks fine. At least a better chart than many other Altcoins.
$SUI Break and hold above $4.50 will be a better bullish confirmation based on daily chart.
One thing i hate about SUI is they unlock 2% supply every month. This increases the supply in market and as well as increase the marketcap without price move.
$4.50 is an important zone as a lot of trades has been executed in this zone. (Marked on second chart)