Tuesday is still the same; the bottom-seeking action has not been completed, and the overall trend has not changed at all. After the adjustment, it will continue to stretch until a new high.
Did you understand the methods used by the dog farm to wash the盘?
Today, a total of 96,019 people across the network were liquidated, with a total amount reaching $274.13 million.
Yesterday, there were fluctuations of $4000, with a high of 96500 and a low of 92500. The rebound brought it to 95500, and it is clear the highs are decreasing: from 9.85—9.75—9.65—9.55, stepping down one level at a time. Although the morning closed above 94500, it is unlikely to hold here. Today, it will oscillate in the 92000—94500 range, and those operating in the short term can wait for the lower 92500—91500.
At the 4-hour level, we are currently looking at whether it can break below around 92000. If it does not break below and remains oscillating, the altcoin market will continue. If it breaks, it will soon retest the support near 90000. In any case, pullbacks during bull market cycles are excellent entry opportunities; drops happen quickly, and V-shaped recoveries will also be quick—there's nothing to fear. Today's cryptocurrency fear and greed index is 73!
Bitcoin is down, and altcoins are not following.
Currently, the performance of altcoins is generally stronger than that of Bitcoin, and Ethereum's valuation compared to Bitcoin has already rebounded by about 5%. Yesterday, Ethereum's lowest point was 3214, the highest point was 3465, with a fluctuation of 251 and an amplitude of 7.8%. Currently at 3370, short-term support at 3280, small resistance above at 3450. The funds for Ethereum ETFs are starting to slowly increase, which is a key factor for future gains. Short-term resistance: 3450, short-term support: 3280.
Overall, looking at the chart above, altcoins are currently performing stronger in the market. Key indicators for the altcoin season: 75%, the top 50 cryptocurrencies have outperformed Bitcoin in the past 90 days. Can we then say that the altcoin season has arrived?
As the saying goes: everyone being well is truly good. Bitcoin has risen for so long; it is time for altcoins! You must understand that when Bitcoin rises, everything takes off, and when Bitcoin falls, everything plunges. The crypto market is still dictated by Bitcoin. Whether there is an altcoin season is entirely a contrast between bearish and bullish sentiments. If there really is no altcoin season, then this round of retail investors is too miserable; if there is an altcoin season, it will certainly surge vigorously, as many people have already been left behind.
Today, I want to focus on: AAVE
This coin is currently surging because of what we discussed in our previous article (Bitcoin ignites the bull market! Which chain among Sol, Sui, and Ethereum is undervalued? Which coin is the real dark horse? Can Puffer still be bought? What opportunities do AAVE and Doge have?). Its TVL has already far exceeded the peak of the last bull market, while its coin price is only in the 300s, far below the last bull market's 670, indicating it is undervalued. The Trump family’s WLFI has also increased its position in AAVE; we have specifically analyzed this in two episodes, so I am not surprised by its rise.
But what I want to say today is that its short-term rise seems to be about done. Today it has already reached the previous high of 390, and there is significant resistance; you can choose to take profits on the highs and buy back on the dips. I will pay attention to support levels above 350, like 355, to enter again on the lows.
Actually, if the market were a bit better, I would choose to hold on, but now all coins have dropped significantly, and AAVE is about to surge to this year's high again. It feels like the overall environment has worsened a bit, and I want to wait for a pullback. As for the other two ecological coins of Ethereum, Uni and Puffer, I also have positions. Currently, they are slightly up, not as fierce as AAVE, but still okay.
A bull market is still a bull market; altcoins are indeed slowly heating up. You really need to start buying altcoins on dips. Some popular coins are worth allocating; you can buy some potential altcoins on the low, such as Zen, Usual, AAVE, etc., Cheems, Bome, Usual, Ena, Banana, and so on. There are no issues with spot trading.
