Weekly Close Creates Bearish Signal For Altcoins — More Downside Potential?

For many altcoins, yesterday's weekly close was extremely bearish. In particular, many of them flashed a bearish EMA crossover.

This signal occurs when the short-term moving average falls below a longer-term moving average. Usually, this is a strong sign of more downside potential — especially when the signal occurs on the weekly chart.

Accordingly, the backtest shows a high (>80%) or highest (>90%) probability for most tokens that the signal plays out.

Therefore, the options are evident:

1 — The slow downtrend continues throughout the summer, and we constantly reach new lows.

2 — A significant event (e.g., the ETH ETF launch date) revives the market and brings fresh buying power.

Let me know your thoughts in the comments 👇