There's a lot of liquidity stacked up on Ether from the bottom - the market is literally pulling the price towards these levels. The structure looks like the downward sweep isn't finished yet.
With inflation data, they could easily orchestrate a drop to grab liquidity from below. That's why it's especially important not to rush into longs until we get confirmation of a reaction.
Many altcoins are currently feeling a sense of incompleteness in their movement - it seems like the market is lacking one final push up before a full resolution. #ADA looks pretty similar.
As long as the structure holds, I'm open to another upward impulse in the market. After that, we can start looking at a more serious correction.
Looking ahead in the altcoin market, it's reasonable to expect a correction - many assets are nearing the upper limits of their ranges, where selling pressure begins to ramp up.
#XRP is showing a similar pattern. Similarly, as with #ADA.
After the current movement, the priority shifts towards working off resistance levels and anticipating a market cool-down for altcoins.
$OP You can take some profits and move the stop to break even.
Cryptocatagency
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Bearish
$OP 1H
#OP is gradually responding to the weakness following Bitcoin.
If the overall scenario for #BTC remains valid, then the altcoin could very well continue its downward movement without any surprises - we've already spotted initial signs of correction.
For now, the asset isn't showing aggressive buybacks, so any local recovery is viewed as a temporary breather before further declines.
The market is currently in a phase where weak instruments correct faster than the rest. I expect continued downward pressure on prices in the near term.
The main focus now is on Bitcoin's reaction, as #OP appears to be an asset that will simply follow the overall market trend.
#OP is gradually responding to the weakness following Bitcoin.
If the overall scenario for #BTC remains valid, then the altcoin could very well continue its downward movement without any surprises - we've already spotted initial signs of correction.
For now, the asset isn't showing aggressive buybacks, so any local recovery is viewed as a temporary breather before further declines.
The market is currently in a phase where weak instruments correct faster than the rest. I expect continued downward pressure on prices in the near term.
The main focus now is on Bitcoin's reaction, as #OP appears to be an asset that will simply follow the overall market trend.
#DOGS continues to look incredibly weak against the market.
After the impulse, they couldn't push the price above $0.0001002, meaning we didn't get any solid confirmation for a continuation of the pump.
For now, this seems more like a typical liquidity warm-up before a new phase of depreciation.
If this is indeed playing out as a classic market maker scenario like DWF Labs, I wouldn't be surprised to see a gradual dump back down to the base of the entire impulse around $0.0000379.
Such movements usually shake off the remaining faith of the crowd before the next run-up cycle.
So right now, the key question for me isn't when the x's will come, but whether the current structure can even hold.
Until the asset regains control above $0.0001002, I see any local bounces more as an opportunity to offload than the start of a new trend.
$SUI 1D For #SUI, we’ve been seeing the same story for several months - the market has boxed in the coin in a wide sideways movement and is gradually forming a new distribution area. Right now, the key range is $1.0804–$1.3495, and as long as the price is stuck in this zone, it's not an uptrend but rather a redistribution phase.