The E guard is in such a bad situation, he was forced to make a false breakthrough!
Ethereum was brought down by BTC just after it broke through at noon. Although it barely stood near the previous high with buying support, if it continues to decline, it may become a false breakthrough, and its trend is similar to that of Bitcoin in the past few days. It was analyzed yesterday that ETH had a chance to catch up, but it was suppressed just after the breakthrough, which is a pity.
Pepe has fallen back to the purchase price, and plans to reduce some of the positions at the original price, and mainly wait and see. As for Bitcoin, I personally think it is close to the top of the stage, and it is not recommended to hold it for a long time. If you have a position, you can sell it at a high price.
Currently, only altcoins still have opportunities in the market, but ETH is unstable and needs to be observed. Overall, the market may be coming to an end. I have cleared most of my positions and only do short-term swings, waiting for a pullback and bottom-fishing opportunities.
It is expected that the bottom may appear in July-August, and we will pay attention to two major signals at that time:
Whether the panic index reaches "extreme panic";
Will the giant whale Spoofy enter the market to buy at the bottom?
During the extremely greedy phase of the market, we must not chase high prices. We should focus on short-term operations and sell when the highs are reached. The real opportunity to increase our positions will come during the deep corrections that follow.
Today, Musk officially withdrew from the M Committee. From now on, the rise and fall of DOGE will no longer be affected by politics. Brother Ma, you can focus on leading the company this time, right? Don’t pay attention to that old naughty boy Trump anymore, his words are erratic. Let DOGE be great again!
Trump followed suit and posted a picture with PEPE, which caused PEPE to rise by more than 5% in a short period of time!
These two people are like good friends who have a falling out and bicker with each other, but in the end, we retail investors are the ones who get hurt! Okay, let’s continue to talk about the cottage aspect!
ABOUT
$SUI Recent fundamentals have been impressive, but prices are still hovering in front of key resistance levels in the short term. The current price is 3.646, up nearly 4% on the day, but it is still limited by the strong pressure range of $3.87-4.13. This range has gathered a large number of short positions. Once it breaks through with large volume, it is expected to trigger a short squeeze and push the price to around $4.97. However, if it fails to break through effectively, there is a risk of a pullback, and the price may fall back to the technical support level of $3.57 or $3.12.
At present, the market is in a wait-and-see mood, bullish momentum is weakening, and signs of volume-price divergence cannot be ignored. Although on-chain data continues to release positive signals, if buying cannot continue to increase in volume, short-term gains may lack sustainability.
Overall, SUI has solid fundamental support and its medium- and long-term potential is still optimistic. However, the short-term trend is still limited by the tug-of-war between technical pressure levels and market risk appetite. Investors are advised to pay close attention to the gains and losses of the 3.87 level, avoid emotional pursuit of highs, and wait for clearer breakthrough signals.
CAKE
As long as Binance Alpha continues to gain momentum, CAKE will continue to be revalued by the market. Currently, 30% of the transaction fees of the Alpha project belong to $CAKE , which will drive it to become one of the most profitable protocols.
It is expected that the Alpha craze will continue for 6 to 12 months, and CAKE is expected to get out of the slow bull market and rise steadily in the long term. For investors who are not sure what to buy, CAKE is a long-term configuration worth considering, and it is expected to outperform most currencies.
From a technical perspective, CAKE is in the weekly bottom area and has good upside potential.
IT
From a technical perspective, $UNI has broken through key resistance. The bullish engulfing candlestick on the daily chart, the golden cross of the 20-day and 50-day moving averages, and the breakthrough of the long-term downward trend line all reinforce the expectation of rising prices. If the current trend continues, the inverted head and shoulders pattern measurement target points to $10, which coincides with the Fibonacci 61.8% retracement level, which is an important technical level.
Fundamentals are also boosting the market. UniswapX, the aggregated trading function launched by Uniswap, has attracted widespread attention in the DeFi field by introducing a filler bidding mechanism, integrating on-chain and off-chain liquidity, and significantly improving user transaction efficiency.
At the same time, whale funds are flowing in in large quantities. Santiment data shows that the number of addresses holding 10,000 to 1 million UNI has increased significantly recently, indicating that large investors are actively building positions, further boosting market confidence.
Overall, UNI is currently in a favorable stage dominated by bulls, both from a technical and fundamental perspective.
This is the end of the article! If you are confused in the cryptocurrency circle, you might consider joining me in making plans and harvesting dealers!
