Bitcoin is consolidating, Ethereum is starting to catch up, the flavor of a bull market is finally emerging.
Many people say there is no altcoin season this round, but I think it's not that it hasn't come, it's just changed rhythm. Seeing all altcoins flying together is no longer visible, currently it's a phased rotation market.
Some have already peaked, it's just that you haven't kept up. Like today's XRP and ETH are particularly strong, #XRP has risen nearly 18% since my recommendation at 2.8, as a large coin with a market cap of nearly 200 billion, this wave is indeed resilient.
Is the frenzy belonging to E sentinels coming?
A couple of days ago ETH was still oscillating around 3000, I was still thinking it would slowly push up to 3400, who would have thought that waking up directly surged to 3500? This rise is a bit outrageous! To be honest, this kind of large bullish candle is pushing up, it's not that I'm bearish on Ethereum, but my rationality tells me it's time to take some profits.
So who is really driving this surge in Ethereum?
It's not retail investors, it's institutions, and it's the kind that really pours in real money.
The OGs of the native crypto circle collectively choose to reduce holdings at high positions, which already indicates something. And on the other side of the connection are ETF funds:
Can ETH break ATH this time? To be calm, it's tough.
Why do I say this? Let's take a look at the quiet situation on the ETH ecosystem chain.
Gas fees remain sluggish, with 1 Gwei level showing no heat;
On-chain interaction activity is insufficient, and the burn mechanism has not been effectively triggered;
The deflationary logic of ETH has not really been established, currently it resembles a supply-demand imbalance caused by accumulated demand in stages.
Overall, I don't think ETH currently has enough fundamentals to solely rely on the off-market to break through the historical high of 4800.
To be honest, this wave of Ethereum's rise has indeed stirred up altcoin sentiment, but very few can outperform ETH.
During the day, everyone can read an article, and then you can pay attention to market hotspots 👉 Has the main character changed? Ethereum surges straight to 3400, altcoins take off! What should SOL, SXT, WLFI do next?
Currently, the altcoin sector showing bright performance includes:
1. In terms of DeFi, only CRV and CVX have made some waves, others are still asleep;
2. Memes are still the strongest, #BONK has risen over 70% in a week, combining meme + platform attributes;
3. Other bright performers include: #floki, #mew, $fartcoin, #cheems, $neiro, $popcat, with daily gains close to 20%.
4. In terms of new blue chips, #ani has doubled, with FDV reaching 72 million; #valentine, $rudi, etc. are also worth watching as they follow the X ecosystem of Musk.
Let's take another look at whether the recently focused SOL and PEPE can keep up?
#SOL: It was still at 160 yesterday, I anticipated 180, and it has reached that today. This wave of catch-up has not ended;
#PEPE: As a sentiment indicator for altcoins, its MACD is still in a golden cross, the position of 0.133 is not a strong resistance, whether it can challenge the previous high of 0.16 depends on whether BTC can support sentiment.
My next operation is very simple:
#ETH can be reduced at high positions, do not chase or catch, wait for a pullback to go up.
#ETH can be reduced at high positions, do not chase or catch, wait for a pullback to go up.
Keep an eye on ETF trends, on-chain liquidity is insufficient, do not bet on ETH reaching new highs in the short term.
Long memes, focusing on PEPE, SOL, BONK, Sbet, etc.
In a bull market, calmness is the ace. It seems everyone is rising, but the ones who can truly make money are always in the minority. I don't distrust ETH (I am also an E sentinel), I just believe that the wind will stop, people will be afraid, and hands must be steady.
The article ends here! If you are confused in the crypto world, consider working with me to layout and harvest from the market makers!
