Witnessing a historic moment! Trump signed the GENIUS Act, the first crypto federal law in the United States is officially implemented, and stablecoins welcome a year of compliance! With the weekend ETF and US stock market holiday, the market is mainly consolidating, waiting to clarify the direction when the market opens next Monday. Stay calm, the big show is just beginning.
Bitcoin is currently in a high-level oscillation phase on the daily chart.
Although there are some short-term pullback signs technically, such as the gravestone doji, the support below remains effective, and the trading volume is weakening, indicating that the bearish power is gradually diminishing. At the current stage, I tend to believe: don't over-interpret this pullback, it's more like a "normal breathing" in a bull market.
The focus now is on the consumption of bullish and bearish forces in the oscillation range. If the bulls are dominant, breaking through upwards is a high-probability event; otherwise, if the bears are in control, there might be another downward exploration. However, I do not recommend guessing the top or betting on a big drop at this time, as market sentiment is still present, and don't be led by short-term noise.
ETH remains strong, with the bull-bear dividing line at 3587
Returning to Ethereum, we mentioned the key point of 3587 yesterday, and looking back today, the trend is basically oscillating around this point. It can be said that 3587 has become the bull-bear dividing line in the short term. Holding it means continuing to surge; losing it means looking at the support strength of the 3466 line. As long as BTC doesn't collapse, the market is still ongoing.
ETH's current trend is very strong, and breaking 4000 is just a matter of time. However, I personally believe that the window for truly breaking 4000 may have to wait until August-September. By then, the altcoin season will most likely truly arrive. What you see now are more warm-ups and probes for altcoins; you can start, but don't All In, focus on selecting strong coins.
Looking at the altcoin side: In the past two days, the mainstream rotation has been focusing on the #DeFi sector, first with REZ and CRV leading the charge, followed by #UNI and #SUSHI taking over. After the weekend pullback, next week will likely rotate to AI or meme; those who should be ambushing have already ambushed, just waiting for the signal to take off!
Continuing to talk about the pump, it's a typical example.
It absorbed 600 million dollars within minutes of listing, but then dropped 21% in 24 hours, with the price falling below ICO, and 60% of early players have already fled. Although listed on OKX, Kraken, and other major exchanges, even a 30 million buyback couldn't stabilize the market.
Ultimately, such tokens without airdrops, without utility, and without ecosystem support are just short-lived hypes propped up by FOMO. With PUMP's holdings dropping 16%, on-chain activity continuously declining, and the rise of new platform competitors, its bubble is rapidly being burst. You can play with speculation short-term, but don't take it seriously; real money should be left for projects with prospects.
SOL, ADA, VANA all draw their swords, is the altcoin warm-up starting?
#SOL: Rebounding above 180, challenging 184 before slightly pulling back, but still stabilizing in the 177-179 range. As long as 168 is not broken, 186-188 is just around the corner, with strong momentum to break 200 or even 220. Moreover, meme coins on the Sol chain rose over 13% this week, benefiting SOL significantly. Technically, it has also returned to the daily 200MA, with a solid foundation.
#ADA: Rose nearly 30% this week, market cap almost catching up with TRON. Intraday trading volume surged, with price reaching 0.74; if it breaks 0.86, the next stop could be 1.62 or even 2.65. Don't forget, ADA has formed a classic cup and handle + triangle pattern, with technical support.
#VANA: This wave has been stable, rebounding along the upper part of the ascending channel, now consolidating near the midline. As long as it holds this midline support, the overall bullish structure remains intact, and continuing to create higher lows is no problem. If it breaks below the midline, it might retrace to the lower edge of the channel; in the short term, pay attention to the volume performance near the support level.
Remember, not all altcoins have a chance. Choose those with fundamentals, liquidity, and narrative. Don't be scared by short-term fluctuations, and don't be carried away by temporary hype. The bull market is still here, but the bull market winners have never been everyone!
The article ends here! If you're feeling lost in the crypto world, consider joining me in layout and harvesting from market makers! You can join the community via WeChat+QQ group to get market analysis, altcoin operations... WeChat: c13298103401 or QQ: 3806326575
