Bitcoin price has tested the daily 200MA and EMA for the fourth time in this cycle. During bull markets, it does not often test this level. When it does, it usually hits the level quickly before bouncing back.
$ETH is still consolidating this massive 2 year old downtrend line. It depends on how you draw it. Regardless, this is the point to break higher and turn the market structure to bullish, breaking above the 0.0575 high, which was the high point of the ETF news craze.
$ETH went up again today? I find it interesting that it went up twice in a row in the last 4 hours of US stock market opening. The rest of the day was quiet. Twice is a coincidence, three times is a pattern, right?
Can't wait for the price to go up and for the market sentiment to pick up again. When almost everyone is winning, it's the best time to participate in this market. Don't forget to take profits the next time things get crazy again.
$DOGE
Holding support. Really sweeping up liquidity below, but I'd like to see this trade back above about $0.13 to show some strength. This coin tends to move fast, but like we can see on this chart, only to drop sharply. Some catalyst is usually needed.
$WIF
A retest of the previous trading range. A retest of that range would lead me to believe it will move back above $3 in the coming weeks. For now, this remains a resistance level in the short term.
$STX
At an important level. Good bounce so far but expect continued strength from this point. I still hold a good amount of this coin as long term spot, bought about two years ago. Very volatile but I still like the coin.
$RSS3
I am keeping a close eye on AI Token as it is gaining some momentum again. Still consolidating above support, the daily 200MA/EMA is there as well. It has not risen as much as other AI Tokens in the past few weeks and needs some momentum to continue to rise here.
Altcoin Market Observation
» $KAS - The strongest coin in the top 100
» $MKR , $LDO , $AAVE - Strong Ethereum Beta
» $BEAM - Looks weak, the game is weak overall
» $WIF - got beaten badly, but looks solid today
» $FLOKI , $SHIB , $PEPE - Market Average
» $AKT , $RNDR - Akash is strong but Render is weak
» $BLAST - Gets a lot of hate, but performs well
» $MOG , $URBO , $DOG - Looking weak today
» $RBL , $BLUR - Looking weak today
» $ZK - Selling continues despite bullish announcement
» $POPCAT - Looking good today
» $DYM - Continue to dump, how much has it fallen?
» $W - This looks extremely weak
» $ZRO - has been closed since launch
» $LISTA - Looking strong
» $BB - slightly above the market average
» $PAAL - Looking strong, lots of partnerships lately
» $KUJI - Looks like it has finally formed a bottom.
» $APU , $ANDY - both down
» $RLB - Price is a bit lower - I would buy some around this price
» $NTRN - Looks as weak as most Cosmos tokens
» $PIXEL - Looks weak; overall weak game
» $RSS3, $0X0 - Weak; Most AI Tokens Weak
» $NPC - Down a lot today, consider buying some
» $BANANA - Down a lot today, but still within range
» $STRD - A lot of gains, but strange price action
» $PORTAL - Big drop; overall weak performance
» $DAG - Looks solid
» $TAIKO - Looks like it is forming a bottom
» $REZ - has been closed since launch
» $LOCUS - Very powerful, worth studying
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Overall, the market appears to me to be in a state of extreme fear.
Germany, the United States, miners, and Bitcoin whales are selling.
Ethereum ETF outflows are expected.
Investors are scared, but this is all temporary.
Meanwhile, cryptocurrency fundamentals are improving rapidly.
Altcoins have been performing quite well over the past few days.
I expect alt currencies to have a bit more room to fall, but it’s hard to say.
Best-case scenario: Altcoins continue to rise amid Bitcoin sell-off
