Market correction, pullback, or crash?
No matter what it is, as long as you grasp the rhythm well, the bull market will come to pick you up!
Yesterday's pullback was truly thrilling.
Bitcoin is a bit weak, with a significant pullback, but the key positions are holding firm. ETH is surprisingly strong; I thought 4134 was coming, but big funds love it so much that it just took off after a brief dip. The subsequent increase is likely to be stronger than BTC and other mainstream coins.
Today's market focus:
Macro perspective: At 20:30, CPI data will be released, pay attention to the dynamic trends.
Currently, Bitcoin has pulled back to the 117-120 range after a surge. Short-term focus on 117 support. ETH has strongly broken 4000, don't rush to exit, this is just the starting point. As mentioned in last night's article, 4000 for Ethereum is currently a support line, big volatility is still on the way, targeting 4800.
#SOL This side is still relatively weak, we can only wait for ETH to struggle and for funds to flow back before an independent market emerges. A pullback to the 174-172 range can be a good entry point, long-term outlook is positive.
Overall, Bitcoin is fluctuating, Ethereum is leading, altcoins may move at any time, prioritize laying out positions in strong assets that are accumulating at the bottom, and increase holdings when the market opens up to reap profits.
Okay, today let's focus on the altcoin side.
Little Meow summarizes recent articles by discussing several potential altcoins with the greatest potential. During this wave of market correction, everyone can start with small positions, and if you miss it, don't blame Little Meow~
ENA: The favored child in the stablecoin sector
#ENA plans to go public on NASDAQ in the fourth quarter. The U.S. is fully supporting stablecoins, which is the third-largest issuer globally, second only to USDC and USDT.
Last year, its stablecoin USDE had an issuance of less than 6 billion USD, and now it's directly risen to over 10 billion, yet the coin price hasn't returned to its previous high, so there is a lot of room for price correction.
The reason for the explosive demand for USDE is simple: almost risk-free arbitrage + high returns (20% annualized last year). The model involves staking ETH for returns, then using short contracts to hedge risks while also earning funding rates. The trend is highly tied to ETH; as long as ETH is strong, ENA won't be weak.
From a technical perspective, it has formed a solid W bottom, targeting 1.3 USD, with short-term resistance at 0.89 and support at 0.7-0.75. You can wait for a pullback to support before entering, with a target to hold until it goes public.
UNI: The good news has finally arrived
On July 25, I reminded everyone to pay attention to #UNI, and now the DUNI proposal has come—it's not just a governance structure adjustment, but a major experiment in DAO maturation.
Once passed, it will find legal grounds for the long-suspended 'fee switch.' Proposals like this usually appear during bull markets, and those in the 8-10 range should now wait to reap the rewards. If you haven't boarded yet and get another chance in this range, just go for it; it could double.
Specific token recommendations reference: Is there a conspiracy to drive prices down? After Bitcoin's drop to 114K, will altcoins sound the charge? AI narratives take off first, new opportunities for DOGE, ENA, and UNI are here!
SOL: The next underestimated dark horse
Sector rotation is common in the crypto space; a few months ago, ETH was ignored, but now it has become a star. SOL's on-chain data is not inferior to ETH, but its market cap is only 1/5 of ETH, and its price is still at half of the historical high.
On October 10, the spot ETF is likely to be approved, and several 'MicroStrategy'-like institutions are set to complete their financing. My expectation is that October will be the time window for SOL and ecological coins #PENGU to collectively break out.
Recommended reading: Ethereum rockets to break new highs! SOL, Bonk, and Pengu are receiving good news again; is there another opportunity to pick up some money? Could the CPI data be the final trigger?
Summary: The trumpet for this bull market relay has already been sounded:
Among mainstream coins, #ETH leads, while Bitcoin holds the line.
ETH leads and drives the ETH ecosystem, especially #LDO which has been very strong recently.
SOL is weak; wait for ETH's funds to flow back, and the next performance will be SOL.
As for the market in August, the articles at the beginning of the month have been discussing it, you can go back and check.
Opportunities are always reserved for those who are prepared, layout should be done early.
Let's stop the article here! If you're still unclear about the direction in the crypto space, why not join me in laying out positions? Waiting for you, otherwise, in the next wave of market, you might find yourself on the opposite shore.
