Market review:
Yesterday's high for the top coin: 97448, low 94250, volatility 3198 points; yesterday's high for the second coin: 3403, low 3221, volatility 182 points; yesterday was Sunday.
The overall market adjustment is nearly done. This week we will first look for an overall upward fluctuating trend, which means a fluctuating rebound in the market. The key focus is on the current rebound strength. BTC has retraced 14000 USD from its highest point, while the second coin's retracement is around 1000 USD from its peak. In percentage terms, the second coin's pullback from the highest point is less than 30%, with a pullback of about 20 points, almost reaching half of the upward trend in the second coin process. Most altcoins have halved from their highest point to now, but there are also some coins in our holdings that have surged nearly twice against the trend.
Today's Monday highlights:
BTC
The BTC market will continue to experience a fluctuating trend with a slight rebound. Only this will give the altcoin market a vast opportunity. The support level for BTC this week is focused on the effective position in the 90000-92000 range. The short-term support level for today has appeared near 94000 in the four-hour timeframe. According to the four-hour trend, we can pay attention to the resistance points above in the 98000-102000 range.
ETH
The ETH market phase has retraced from the current highest point to about half of the trend, but it's only a 20% percentage pullback. According to the current daily level, it has mostly adjusted. The 3200-3300 range needs to form a support position, so at the current daily level, we can watch this support range. As long as there is a rebound from this position, there is no need to worry about a continuous decline in the market. Currently, we can directly look at the resistance points in the 3500-3600 range. The key node now is whether it can continuously drive the market to strengthen. We need to see if the second coin can break and stabilize around the 3800 point line again. Only in this way will the market experience a general rise, and altcoins will at least increase by more than 50% based on the current foundation. Remember, if the market rises, get rid of the junk coins in your hands.
Altcoins
For altcoins, we are still focusing on those few coins: NEIRO, SYN, WLD, OP, FET, PEOPLE, CRV, ACE. Once ETH stabilizes, the altcoin market will follow. Currently, the altcoin market is in a bottom adjustment. As long as it does not break below the new low support level, it's a fluctuating market waiting for a rise. Hold onto your chips, and after the rebound, gradually reduce your position.
