Family: The market for altcoins is doing well $THE

Who understands the market, take a look at what position $THE is good to settle, many altcoins have returned to their starting price position, is it time to take profits, or continue the trend?

From the current market view, the recovery of altcoins depends on $ETH . After several weeks of rallying, Ethereum is approaching the psychological barrier of 4000 dollars, and shorts have emerged again, pushing the price below the key short-term support level. As the momentum oscillation indicator points downward and capital outflow increases, Ethereum is currently breaking below the lower boundary of the key upward channel. The current weakness of Ethereum stems from technical weakness and worsening inflow dynamics, making it difficult to remain overly bullish.

On the 4-hour level, after the neckline at 3588 was broken with volume, the outlook continues to be bearish, indicating that momentum has shifted to bearish for the first time since the end of July. The DMI indicator's -DI line has surged to 30.4, while the +DI line has fallen to 11, confirming the main downward trend. Meanwhile, the EMA moving averages are beginning to contract, and the price has currently fallen below the 30-day moving average, with today’s market correcting to the 169-day moving average, showing a weakening downtrend.

Looking ahead, if Ethereum does not continue to break below the 3300 mark today, the shorts will turn to longs, and the market will rebound above 3500, targeting the next dynamic pressure level around 3594 dollars as reference (4-hour chart 30-day moving average). The neckline of the daily moving average at 3600 dollars is the dividing line between bullish and bearish. If there is no further volume increase, this will mean that the market is about to undergo a deeper test of the June rally. On the upside, it needs to hold above 3600, but Ethereum needs to break through the resistance zone of the Bollinger Band middle track at 3623-3588 to restore a short-term bullish trend. If there is no rebound next, Ethereum will continue to face the risk of further declines.

So if Ethereum doesn't go up, I can wait a bit longer for my altcoin short positions, what do you think? #加密项目 #以太坊十周年 #美联储利率决议