#ETH
《Trend Changes — Current Market Analysis》
If it can't go down, it has to go up; if it can't go up, it has to go down. This still applies to the current market. Last week, Ethereum failed to hold above the resistance near 2520, and altcoins began to pull back as well. However, this pullback did not break below the support near 2380, leading to a rebound in the market.
The altcoins that everyone was waiting for, the 0.8 WIF, 0.0015 BOME, and around 0.0000097 PEPE, 0.00039 NEIRO, have all seen profits. Not only have these rebounded, but the entire market has experienced various degrees of rebound. This is about following the trend; if you follow the trend, you will find that no matter what you buy, you can make a profit. The issue to focus on now is how far this market can go and when to reduce positions. This requires a comprehensive judgment based on the trends of Bitcoin and Ethereum.
Since Bitcoin stood above the support near 105000, we have been bullish, aiming for 110000. Yesterday, I posted about a small-level pullback near 107000; as long as it doesn't break below, we can continue to look bullish. This large bullish candle on the hourly chart also confirms this statement. Bitcoin's resistance is still at 110000, which is also a short-term target.
Yesterday, I mentioned that Ethereum's 4-hour chart shows signs of narrowing, and it is expected to pull back near the 2400 level before starting a rebound. I also encouraged everyone to look for opportunities near the 2400 level. Did this large bullish candle strike you? After two days of fluctuation over the weekend, Ethereum's resistance near 2520 dipped to around 2500. This resistance is very likely to be broken. If 2500 can hold, Ethereum will be able to look towards 2800 again.
Taco also selected one from the recommended altcoins and opened a position, specifically BOME, which many people like. The trend for BOME seems to be stabilizing around the support near 0.0015, and it will aim for around 0.0019. I will set my stop loss at 0.00145. As long as the trend does not change, I will continue to hold and pay close attention to Taco, sharing the fruits of profit and retreating together.