8.22 Market Analysis
The overall trend of the current market is still fluctuating, and $BTC is still in the adjustment phase. The most critical support level is around 110,600. If you do not like the risks of altcoins but want to earn higher returns, you might consider making a small position to lay a foundation here. For short-term operations, you can wait for the price to drop to bet on a rebound, but remember to set a stop-loss.
Tonight's Jackson Hole meeting and some macro events at the end of the month may trigger significant volatility; the market fluctuations may continue until early September, until the direction gradually becomes clear.
Currently, the main battlefield in the market is still in ETH, with short-term resistance around 4400. Only if it breaks through and stabilizes can it possibly rise further. If ETH pulls back to around 4100, it can also be a buying point. BTC is relatively weak and may test around 112,000 again, but this may actually be a better mid-term opportunity. Overall, funds are still concentrated in ETH, while other altcoins are mostly just following the trend, with significant emotional volatility.
From a sector perspective, oracle, $CFX , and OKB, which are driven by news, might have a second wave of market activity, but the risks and pullbacks are significant, suitable for small position short-term operations. For example, $CAKE , although it still has room to rise, should not be expected too highly; it’s good enough to reach a peak. The logic of CFX remains valid, and the upgrade expectations in September may support its trend. It can be positioned for the mid to long term, but remember to accept its high volatility.
Overall, there are not many opportunities in the market; steady operations are still focused on ETH and mainstream coins. You can participate in altcoins with a light position, but remember that the volatility is high and the pullbacks will be deeper. Stay rational and earn the part of money you are confident in.
