A new low, but still no sign of a bottom.
1. BTC has made another new low on the daily chart, this time touching the 50-day/200-day lines. But there still hasn’t been a sustained candlestick signal indicating a bottom. The market urgently needs a signal that the decline has stopped and prices have stabilized to boost morale. Yet bears are especially aggressive at times like this. The next support below is 69.3K.
2. $ETH is in the same situation. The price has reached 2,000 points, or the 618 line. It broke below the 200-day line a couple of days ago, so caution is warranted. In the long run, ETH at this price has a clear advantage. Let’s keep waiting for a signal that prices have stabilized.
3. A few altcoins aren’t following the broader market. $PEPE has been climbing slowly and unevenly, and its price is now above 516 (closing price). It will most likely continue rising. INJ has been swinging back and forth between 7.7 and 8.2. Overall, INJ is moving within a wide range of 6.5–9.5, with 6.5 as the weekly neckline and 9.5 as resistance at the neckline.
4. Among the altcoins with strong fundamentals, some of the assets we’ve been following over the long term—SUI, NEAR, and UNI—are consolidating near their previous lows. They haven’t seen a crash-like drop, and it looks like they’re also waiting for the broader market to stabilize.
1. BTC has made another new low on the daily chart, this time touching the 50-day/200-day lines. But there still hasn’t been a sustained candlestick signal indicating a bottom. The market urgently needs a signal that the decline has stopped and prices have stabilized to boost morale. Yet bears are especially aggressive at times like this. The next support below is 69.3K.
2. $ETH is in the same situation. The price has reached 2,000 points, or the 618 line. It broke below the 200-day line a couple of days ago, so caution is warranted. In the long run, ETH at this price has a clear advantage. Let’s keep waiting for a signal that prices have stabilized.
3. A few altcoins aren’t following the broader market. $PEPE has been climbing slowly and unevenly, and its price is now above 516 (closing price). It will most likely continue rising. INJ has been swinging back and forth between 7.7 and 8.2. Overall, INJ is moving within a wide range of 6.5–9.5, with 6.5 as the weekly neckline and 9.5 as resistance at the neckline.
4. Among the altcoins with strong fundamentals, some of the assets we’ve been following over the long term—SUI, NEAR, and UNI—are consolidating near their previous lows. They haven’t seen a crash-like drop, and it looks like they’re also waiting for the broader market to stabilize.
