Today, let's talk about several questions that everyone is most concerned about: Has the altcoin season arrived? And which phase of the altcoin season are we currently in?
Before we dive deeper into the altcoin season, I would like to share a few important charts that are closely related to the altcoin season:
First, there's TOTAL2 — this chart tracks the overall altcoin market excluding Bitcoin. The price of TOTAL2 has successfully broken through a significant historical resistance level, which is a major bullish signal for the altcoin sector. With this breakout confirmed, any pullback or retracement should be viewed as a healthy adjustment and a new buying opportunity.
Next is Bitcoin Market Cap Dominance (BTC Dominance), this chart reflects Bitcoin's market cap dominance. We see that Bitcoin is climbing along this upward trend line in the chart. When Bitcoin's market cap dominance breaks below this upward trend line and faces a larger pullback, altcoins may perform better.
With these two charts for reference, we can draw a simple conclusion: the altcoin season has indeed arrived, and we are in the early stage of the altcoin season.
In the coming days, altcoins may experience a slight pullback; do not panic, follow me and I will share more quality altcoins again at that time. $BTC $ETH
Today I would like to share my views on ETH: First, Ethereum has broken through the long-term suppressed downward trend line. Second, it has not created a lower low. Finally, it has tested the support around 1750 and quickly recovered.
It meets all the requirements of the 123 rule, so we can boldly look upwards, 1930, 2000, 2100...... At the same time, Bitcoin's market capitalization ratio has also shown a downward trend in the past few days. Next month is worth looking forward to; we may see altcoins perform even better.
Reasons for recommendation are as follows: 1. Broke below the downward trend line 2. Firmly stands near the strong support and resistance level around 20 3. MACD bottom divergence
Operation suggestion: Place a buy order around 20.8 (near Fibonacci 0.618), stop loss at 18, initially targeting 34
Today I recommend a quality asset: FARTCOIN Reasons for recommendation are as follows: 1. Broke through the upper edge of the consolidation range around 0.965 2. Leading meme coin, very strong upward momentum
In terms of operation, place a buy order directly at 0.965, set the stop loss at a 4% drop from 0.965, and initially look for a take profit at 1.21 and above.
Once again recommending a bullish altcoin: INJ Reasons for recommendation are as follows: 1. Breakthrough of the daily level downtrend line 2. Support level 8.5 shows signs of stabilization 3. MACD bottom divergence
You can directly enter a long position in the contract, stop loss at 8.348, take profit at 10.9 $INJ
Another bullish asset SNX: Reasons for bullish outlook: Broke through the triangle, currently testing upper resistance at 0.68 If it holds and retraces without breaking 0.68, enter long or buy spot, aiming for 0.82 first, then 0.95
A few days ago, I opened a long position in the gala. Today, due to the recent drop in the market, I closed all my long positions. I just took another look, and the bullish momentum is still very strong.
Today, the market is down, breaking the support level around 0.15, and it is now about to form a bullish engulfing candle. I will check the 4-hour closing situation at midnight. If it closes as a bullish engulfing candle, I will enter a long position or buy spot. #Stop loss should be set at today's lowest point during the drop. (Breaking the support and then recovering is also a very strong bullish signal) The first take profit target is 0.017, and then 0.019
I looked at fet, which is another old AI coin like render, and its trend is stronger than render. It is currently challenging the resistance level around 0.595. If it holds above 0.6 on the 4-hour chart, it can be a good entry point for spot trading. For contracts, more caution is needed due to leverage. It’s best to wait for it to hold above 0.6 on the 4-hour chart, wait for a downward pullback that doesn't break 0.595, and then if there's a strong engulfing bullish candle afterwards, that would be a good time to boldly enter a long position, targeting first at 0.776.
Let me share my views on render. I happened to see that this coin shape is performing very well today, extremely bullish. Reasons are as follows: 1. Broke the descending trend line 2. Formed a double bottom (W shape) 3. Broke the neckline of the double bottom (around 4.1) initially aiming for around 5.7
Aggressive investors can enter now, while conservative ones can take a small position first and then fully invest near 4.1 $RENDER