Today I want to analyze the market and give a warning about further purchases. Since the last review, as expected, volatility in the market started to rise with a flat around 2500 for Ethereum until the mid-year change. The rise of the euro and oil provided reasons for a retest of 4k in the new half-year candle. However, the half-year opened below 2500, which is a technical signal for sales that bears will take advantage of at the end of each major period. A large volume of sales was also left before the mid-year change, which may be worked off with a retest down to 2100-2250. The first pullback is possible already in the current monthly candle, turning it into a pinbar down to 2750-2900 for Ethereum. This pullback began yesterday and will likely accelerate in the last weekly candle of the month. Further sales are likely to continue in the first half of the new month as part of drawing the shadow on the new monthly candle. In an optimistic scenario, by the end of the week, bulls will be able to reach 4000, in which case the pullback in the current monthly candle will be compensated.
Considering the increasing probability of sales in the market, I recommend locking in profits and reducing the number of coins in play by the end of the week. The current pullback on some coins will also end with the assignment of the monitoring tag at the beginning of the month and a subsequent crash, which puts pressure on altcoins.
Most of the coins I considered for work provided good opportunities for profit, especially the growth impulses in pivx and data with sharp breaks. Adx fio chess cos token also showed growth, but at a more gradual pace. The most negative dynamics came from slf, which ultimately received the monitoring tag, and I will not consider it for work in the future.
Despite the pleasant impulses of 50%+ in some fan tokens, this group, in general, shows extremely negative dynamics relative to the market and remains in the most oversold position, even compared to coins with the monitoring tag. In an optimistic scenario, fan tokens may become interesting to speculators against the backdrop of the general decline in altcoins, and a good bull run can be expected for them until the end of the month. In a negative scenario, Binance may be preparing to assign the monitoring tag to some tokens in this group or chz. Therefore, I leave a small lot in play for tokens like atm, acm, city, porto, Lazio as the most undervalued. But at the beginning of the month, I also recommend keeping short stops on them in the first half of the first week of the new month to protect against the assignment of the monitoring tag. Or temporarily sell them during this period.
I will choose new coins for work, apart from fan tokens, only after the assignment of the monitoring tag in the new month.
#atm #acm #city #baby #newt