On Friday, the pie and Ether pins fell to about 12 noon, and then rebounded in the European market, and the US market also rose after the release of non-agricultural data. Ethereum fell slightly below its previous low, with the market falling to about $53,000, and there was a slight panic during the session.
Solana (SOL) found support at the previous low, and generally did not cut in half, achieving a reversal and rise within a single day.
The performance of mainstream currencies was mixed, and many altcoins did not rebound significantly.
It remains to be seen whether this decline will last, as it will go through a bottoming process anyway.
In the short term, Bitcoin is under pressure at $60,000 and Ethereum is near $3,200. ORDI fell to as low as $25, and SATS fell nearly 90%.
This decline has been significant. I have always expected that ORDI will stabilize near the low in May last year, so I adopt the strategy of "buy the more it falls". Even if I am not sure where the lowest point is, it is a better choice to gradually increase my position when it is close to the ideal position.
Inscription PIZZA soared by 40%, Rune Mingwen Longer SATS plummeted 17%, RATS fell 16%, sub-new coins MANTA, XAI, ETHFI, BB, IO, etc. fell sharply, and PEOPLE, SSV, WLD, TAO, ORDI and other currencies also experienced significant declines.
Short term outlook:
The market may continue to rebound in the short term, but attention should be paid to the upper pressure level. Bitcoin and Ethereum are likely to see another bullish turn near yesterday’s support. For currencies that did not rebound much yesterday, there may be new lows. But generally speaking, in the short term, you can adopt the strategy of "buy more as it falls".
The current market is changeable. Whether you are interested in contracts or spot prices, you can check the top page to find me. After the sharp decline in the market, I am also optimistic about several potential coins and ready to make plans.
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