$SEI Here, the price is not showing strength, but it has clearly stopped falling.
After the entire distribution and decline phase, the market has entered a zone of absorption: it is slow, it is boring, it is sideways — and this is often how a usable bottom is formed.
It is not a trend reversal. It is not a bullish call. It is simply a possible temporary operational bottom. This is the type of structure I like: little risk below, room above, no story to tell. Easy invalidation.
Bitcoin dominance is currently facing resistance at the daily supply zone of 60% area. If the momentum continues, then we may see it at 58% or lower levels in the coming days. If this happens, then we may see some momentum in alts at least for a short period of time. This bias is valid as long as the supply zone sustains.
📈LONG: #BLZUSDT | $BLZ by CobraVanguard (1W) Current Price $0.37 Market Cap $160.62M Change 1h -0.00% | 24h -0.99%
We, the trading team, have observed an ascending channel for BLZ/USDT on the weekly timeframe. A potential break above the channel could lead to upward movement. Remember, the markets are ever-changing, so stay vigilant for any strong and fast changes.