MARKET PULLBACK, A HEALTHY BREATHER AFTER A BIG RALLY 📉
Crypto market down 1.07% to $2.63T.
Drivers:
· Profit-taking in overheated altcoins (ETH, SOL, XRP were up 20%+ last week)
· RSI at 87, extreme overbought
· Rotation into niche narratives (Cybersecurity +84%)
Key levels:
· Support: $2.54T (23.6% Fib)
· Resistance: $2.66T
Watch:
· Jackson Hole speech (Aug 28) — Kevin Warsh could move markets
· ETF inflows holding strong ($284M from BlackRock)
The takeaway: This is a natural consolidation, not a trend reversal. If support holds, we're setting up for the next leg up.
#Crypto #Bitcoin #Ethereum #Altcoins #LUNC
Crypto market down 1.07% to $2.63T.
Drivers:
· Profit-taking in overheated altcoins (ETH, SOL, XRP were up 20%+ last week)
· RSI at 87, extreme overbought
· Rotation into niche narratives (Cybersecurity +84%)
Key levels:
· Support: $2.54T (23.6% Fib)
· Resistance: $2.66T
Watch:
· Jackson Hole speech (Aug 28) — Kevin Warsh could move markets
· ETF inflows holding strong ($284M from BlackRock)
The takeaway: This is a natural consolidation, not a trend reversal. If support holds, we're setting up for the next leg up.
#Crypto #Bitcoin #Ethereum #Altcoins #LUNC