Recently, the market for altcoins was originally in a weak pattern.
However, driven by Bitcoin's strong surge, today altcoins successfully broke through the significant 2600-point integer threshold. Currently, the market's key resistance levels are focused on the range of 2660 to 2690, which is the breakout point from October 2nd and holds considerable reference value from a technical analysis perspective. From the current trend, the altcoin market shows signs of sprinting towards this area.
Key points to focus on at this moment are as follows:
In terms of short-term resistance, the range is between 2660 and 2690. This area poses certain resistance to price upward movement; if the price wishes to further expand upwards, it needs to effectively break through this resistance range.
The short-term support level is between 2490 and 2520. This area provides some support for price declines, and when the price retraces, this area is expected to form a certain floor effect for the price. Essential insights in the crypto space, by Crypto Xiao Zhi, deploying high-potential coins in a bull market, as well as daily spot strategy!
In terms of short-term trends, if the market's trading volume cannot continue to effectively increase, the market may experience a pullback, expected to pull back to around 2550.
Investors need to closely monitor changes in trading volume and price performance near key levels when making trading decisions, combining their own risk preferences and investment strategies to make reasonable investment choices. Meanwhile, the market has inherent uncertainties and can change at any time, so investors should maintain a cautious attitude and keep track of market dynamics to better respond to various situations.
