Frequent oscillations, are they for harvesting retail investors or building up for a sprint?
Bitcoin continues to trade sideways at high levels, with no directional volatility yet, requiring patience.
The Altcoin market is frequently oscillating, returning to the 2600 range, currently observing.
#XRP's trend is deliberately maintained, with major players supporting the price. After yesterday's unusual movements, today shows oscillation. If it breaks through 2.3 later, it could be worth following. Overall, altcoins are still in a bottom-building phase, and the oscillation in June may be preparing for the August market, with the rhythm set; it's best to watch more and act less in the short term.
Here are some altcoins worth noting in this wave:
SUI's trend is under pressure, is it going to drop?
#SUI is currently trading at $3.03, down 1.6% in 24 hours, and is clearly in a downward channel. The daily chart shows the price is far below the main short to medium-term EMAs (ranging from $3.12 to $3.51), with the only short-term support coming from the 100-day moving average ($2.95), which is key to whether it can stabilize in the short term.
Momentum indicators like MACD and RSI are also bearish, with RSI at 41, not yet in the oversold territory, implying there is still room for downward movement. Some traders point out that if the price falls below $2.95, it may further drop to $2.10. Additionally, 58 million tokens are set to unlock on July 1, which may put pressure on the price.
However, from a longer-term perspective, analysts believe that as long as the price holds around $2.90 (corresponding to the 78.6% Fibonacci level of the April rebound), SUI still has the potential to maintain a bullish structure. If the correction is completed, the potential third wave target may be around $10.90.
In the short term, if it can effectively break above $3.14-$3.15, it may open up upward space targeting $3.50-$3.60. Conversely, a drop below $2.95 will confirm the continuation of weakness.
PEPE is hovering, with risks lurking as whale profits decline.
Currently, #PEPE is testing the key support level of $0.000010, which has attracted strong buying power twice before, but this time there has been no obvious rebound. If it breaks below, it will not only create a lower low but may also trigger profit-taking pressure from whales.
Data shows that 87% of PEPE supply is concentrated in the top 1% of addresses, indicating strong control by whales. SpotOnChain tracking found that one whale has transferred 59.52 billion PEPE worth $6.52 million to Binance, accumulating a profit of $1.57 million (+32%), with an average cost of $0.00000832, suggesting there is still potential for selling pressure.
Additionally, this address still holds $1.15 million worth of PEPE in unrealized profits, making the $0.000010 support precarious. If this level cannot be maintained in the short term, the market may enter a phase of whale rotation, not panic selling, but rather proactive profit locking at high levels.
The next few trading days are crucial; if the support level is confirmed to be lost, the short-term trend may reverse.
DOGE shows strong short-term performance but faces testing selling pressure.
In the past 24 hours, Dogecoin (DOGE) has risen 4.29%, from $0.173 to $0.180, successfully breaking through the key resistance level of $0.177. Despite the tense geopolitical situation, DOGE has shown strong performance, with trading volume surging to 415 million, establishing a steady upward trend with continuously rising lows.
Currently, the price has tested the $0.179-$0.180 area multiple times, but is facing pressure from a head and shoulders pattern, with $0.181 being a strong short-term resistance. If it can effectively break through, it may continue its upward trend.
However, $0.168 is a key support level; if it breaks, it may trigger a pullback from bulls, with a potential correction space of up to 30%. Overall, #DOGE shows strong short-term momentum, but caution is needed regarding high-level volatility and profit-taking risks.
