These past two days, there have been many significant events in the crypto.
Let's start with the most important: The 'GENIUS Act' was officially signed, which is the first crypto federal legislation in US history, directly transforming stablecoins into "USD 2.0". Simply put, future compliant stablecoin issuance must be 1:1 backed by US dollars and short-term Treasury bonds, with monthly public reserve disclosure. This means stablecoins are no longer "homemade dollars" but have become official. The compliance track is about to take off.
Meanwhile, the market has been active.
#BTC surged to a new high of 123,000 on the 15th evening and finally started to "catch its breath". A wave of CPI data and profit-taking caused BTC to drop up to 7,000 dollars. In the short term, the daily line shows obvious oscillation, with bulls and bears in a stalemate. Support is around 117,000, with resistance near 121,000. Don't panic about a collapse, nor fantasize about directly hitting 130,000. A rest is for going further.
#Ethereum pulled from 2,800 to 3,600 this wave, which is incredibly strong. However, after consecutive green candles, divergence has become obvious. Currently stuck at the Fibonacci 0.786 line, plus the historical resistance at 4,000 dollars, breaking through won't be easy.
In my view, ETH's true breakout might wait until after August, with the fourth quarter possibly being the main battlefield. The Altcoin side is about to become interesting. Let's discuss a few crypto fringe items:
- Pump.fun attracted 600 million dollars upon launch but has now dropped to 4.2b. Although I bet a bit at this point, honestly, coins losing topic and heat are hard to sustain, even with major support.
- #EGL1 participated in the WLFI trading competition, currently stable at 0.09 dollars. If BN truly lists, it could be transformative.
- #Uptop was acquired by a NASDAQ-listed company, but the news actually brought negative sentiment. I ran after the high point and will wait for further pullback.
- #KOMA is an old project but surprisingly stable. This market trend can be viewed as a low-market-cap opportunity.
In recent days, the Altcoin sector has staged a high-intensity relay rotation. Let's look at the Altcoin trend:
Many fans recently ask about Doge's current rise and future outlook.
I've always been optimistic about #DOGE. Looking at its K-line, Doge is currently above the monthly MA25 moving average, but the monthly MACD is still a death cross retracement, far from the previous bull trend. I tend to believe it's still oscillating within a channel, supported from the lower point A, targeting the upper point B. The main bull market hasn't arrived, so don't be too aggressive.
WIF, the dog with a hat
From Solana chain to major exchanges, it topped the meme coin top three within six months of listing, even temporarily surpassing PEPE. Despite lacking practical functionality, it flew numerous "hat animal" Altcoins through its heat and topic. After hitting 5 dollars in late March and subsequent oscillation, it recently became active again, standing above the upward trend line with a bullish moving average arrangement and an open Bollinger band. Momentum is not bad. However, resistance is obvious around 1.127, with MACD and volume suggesting a potential short-term rest.
The 4-hour chart shows WIF high-level oscillation, with RSI divergence and increasing dark candles indicating pullback risks. Short-term bears control the rhythm, but the overall structure remains. A pullback would be an ambush opportunity. WIF isn't done yet.
Finally, let me discuss WLD, which trapped me
WLD weakened after reaching near 12 dollars early in the year, struggling to break key resistance even during the bull market. Many started questioning: Is Worldcoin still viable? Backed by Sam Altman's "eyeball project" without stopping, with AI narrative warming up, it's quietly recovering. WLD price rebounded from 0.79 to 1.15 dollars in late June, primarily because Orb devices landed on 46G, coupled with market sentiment recovery and a golden cross on the technical side. The 200-day moving average becomes the new target.
Short-term key is whether it can return to 1.60 dollars and break 2.12 dollars. If the ChoCh pattern forms, retesting above 4 dollars by year-end isn't impossible. But remember, this coin could also drop from 0.57 dollars, so risks remain significant. Don't over-position or go all-in, leave room to watch.
Summary: The current market rhythm differs from the past. It's not about who pulls the most, but faster rotation and stronger main force gaming. Don't fantasize about instant takeoff, nor rush in at every rise. The market is just heating up. Cabin management and rhythm judgment are most important.
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