We have always emphasized that altcoins are expected to usher in the first wave of the second half of the bull market in August, but the actual opening appeared in a plummeting manner. The vast majority of altcoins have fallen to new lows. Although it is difficult to predict whether the future will continue to plummet, in the spot market, you should bravely increase your positions, buy and hold. The strength and increase of this oversold rebound may exceed expectations.
If your positions are still relatively scattered, now is a good time to readjust and reposition.
The following is a market analysis of several specific altcoins:
SATS: After nine consecutive days of decline, it ended the decline yesterday and rebounded quickly after the decline, with a trading volume of more than twice that of the previous day.
There are typical characteristics of falling without volume and rising with volume. We have always emphasized the view that buying on dips will not be locked in the short term. At present, it has rebounded more than 40% from the low point. I believe that investors who buy at the bottom have made good profits.
In the short term, it may encounter the pressure level of the 4-hour MA30 and EMA52 lines, and then there may be a pullback trend. Investors should not miss the opportunity to get on the bus again. The support level is set near 1880.
ORDI: Yesterday, as Bitcoin fell, the lowest hit was 20.73. The MACD at the daily level showed signs of increased downward momentum, and an oversold rebound also occurred in the short term. Further fluctuations are expected at the daily level.
Yesterday's trading volume hit a new high since December 4, 2023. This wave of market conditions cleaned up a large number of long and leveraged positions. After a slight shock adjustment, it is expected to show a good upward performance. If you are still waiting and can't see the market trend clearly, you will only fall because of bullishness and rise because of bearishness. Free ➕👗 ➕🌍 BNB0098
RATS: Yesterday, affected by the decline of Bitcoin, the price hit a new low and quickly rebounded above the previous low, and the trading volume was nearly three times that of the previous few days. After a slight adjustment at the daily level, it is also expected to show good potential, and the expected pressure level will be around 10,000.