The market frequently hits new highs, when will the altcoins take action?
In the past couple of days, capital has mostly been active on the Ethereum side. Although $ETH hasn't hit its historical high yet, if it goes up first, it will likely drive BTC to surge as well. From 4200 to the historical high, there isn't much significant resistance. Once it breaks through, it could quickly rally. However, it's important to note that the indicators are still relatively normal right now, but if there’s a short-term acceleration, the technicals will start to show overbought conditions, which could lead to a pullback. So, at the 4700-4900 position, blindly chasing higher is quite risky.
Regarding platform tokens, OKB has surged significantly and has driven some platform tokens to rise as well, but this might just be a short-term effect since other platforms currently lack any positive news, and they are in a competitive relationship, making it hard for them to have a long-term rally together. However, looking at the trend, OKB didn’t drop much during the bear market and has maintained a stable control over its market. The main reason is its limited real-world applications and a relatively concentrated holding distribution, which makes its price fluctuations more controllable.
On the public chain front, SOL has started to gain momentum. Last time it had a rebound, it only lasted two days before it retraced. So, how long this time will depend on whether the capital can continue to flow in and if the ecosystem’s activity level improves. If the enthusiasm can be maintained, there is a chance for continued gains, but if the funds get absorbed by BTC and ETH again, the rebound might be relatively short.
Let's take it step by step. In this market, accumulating more USDT is the way to go. The earlier layout of SOL at 173 is still yielding profits. The next coin about to take off is already being positioned. Keep an eye on the rhythm of investments and let's strategize together.
