Good morning, everyone. Last weekend, although the overall market stayed mainly in a sideways range with choppy movement, quite a few altcoins have already begun to see a round of rebounds.
Last week, I also kept telling everyone to pay more attention to the mainstream altcoins that haven’t really kicked off yet. From the performance over the past couple of days, it does seem that more and more altcoins are starting to catch up. This makes me feel like the market has a bit of a “season for altcoins is coming” vibe.
As for whether the altcoin rally can continue, I think the key still comes down to whether BTC can hold steady around $80,000.
If BTC pulls back too much, this round of altcoin rebounds may also cool off accordingly. But as long as the $80,000 level can be defended, I believe mainstream altcoins still have opportunities to keep playing catch-up and continue rebounding.
That said, the current market sentiment toward being long is relatively high overall, and the liquidation heatmap has also built up a lot of long positions. So when trading contracts, just be mindful of the risk that a sudden pullback could trigger a concentrated liquidation of longs.
For the bigger direction from here, my personal view remains bullish. Even if there are pullbacks in the middle, I’m more inclined to see them as opportunities to buy the dip, along with chances for mainstream spot to be added in batches.
Looking at the weekly chart: the overall market has already come near the upper edge of the range box. This week’s focus is whether it can truly break out.
If there’s a valid breakout, there may be a chance to open up a new wave of upward room. If the breakout fails, the market will likely continue to maintain weekly box-range consolidation.
Therefore, unless there’s an unexpected piece of bad news this week, I personally think there is still a decent chance for a breakout—so overall this week I’ll keep a slightly bullish bias.
Today’s key levels to watch:
BTC: around 80,000 on the downside, around 83,000 on the upside
ETH: around 2,580 on the downside, around 2,780 on the upside
SOL: around 107 on the downside, around 115 on the upside
#BTC #ETH #solana
Last week, I also kept telling everyone to pay more attention to the mainstream altcoins that haven’t really kicked off yet. From the performance over the past couple of days, it does seem that more and more altcoins are starting to catch up. This makes me feel like the market has a bit of a “season for altcoins is coming” vibe.
As for whether the altcoin rally can continue, I think the key still comes down to whether BTC can hold steady around $80,000.
If BTC pulls back too much, this round of altcoin rebounds may also cool off accordingly. But as long as the $80,000 level can be defended, I believe mainstream altcoins still have opportunities to keep playing catch-up and continue rebounding.
That said, the current market sentiment toward being long is relatively high overall, and the liquidation heatmap has also built up a lot of long positions. So when trading contracts, just be mindful of the risk that a sudden pullback could trigger a concentrated liquidation of longs.
For the bigger direction from here, my personal view remains bullish. Even if there are pullbacks in the middle, I’m more inclined to see them as opportunities to buy the dip, along with chances for mainstream spot to be added in batches.
Looking at the weekly chart: the overall market has already come near the upper edge of the range box. This week’s focus is whether it can truly break out.
If there’s a valid breakout, there may be a chance to open up a new wave of upward room. If the breakout fails, the market will likely continue to maintain weekly box-range consolidation.
Therefore, unless there’s an unexpected piece of bad news this week, I personally think there is still a decent chance for a breakout—so overall this week I’ll keep a slightly bullish bias.
Today’s key levels to watch:
BTC: around 80,000 on the downside, around 83,000 on the upside
ETH: around 2,580 on the downside, around 2,780 on the upside
SOL: around 107 on the downside, around 115 on the upside
#BTC #ETH #solana