The longer the contraction, the bigger the expansion..
⚠️ $ETH against $BTC has been converging for 9 years as the downtrend intensifies, once it breaks.. an explosion like something you’ve never seen before will come 🤯
$PENGU I realize that memes in general are totally dead and that those types of risk on assets aren't going to be coming back until the overall market gets better. With that said, I think that many of these have a few x in them at a minimum when that does happen.
Now, you can say the same thing about any beaten down coin- but memes always have stronger energy in the right environment vs. something dead like TIA.
The only concern is mostly time...it could take a while before these things really strongly move. But I do think that coins like PENGU are good options when solana shitcoins come back. I have a bag.
Our long-anticipated "RETEST" that is mirroring the pre-2017 breakout is now closer than ever to making its mark back down on a previous 6 year neckline of resistance.
If successful, this will likely create the launchpad for our future $8/$13/$27 targets.
Dogecoin is once again testing a historical demand zone that previously triggered a massive rally.
If this support continues to hold, $DOGE could be setting up for another explosive move, but confirmation is still needed before calling a trend reversal. 🚀📈
If $NEAR stands like it does and next week will be green, it's very likely that the following takes place:
- MACD continues to remain bullish. - It holds a higher timeframe support and is therefore flipping multiple MA's in a bullish manner for the first time since 2024.
Extending the trend by the Fibonacci extension tool would mean that we'll be seeing a continuation towards $4.50-5.00 in the next upwards move.
I wouldn't be surprised to see something like this play out for Solana over the next year.
A lengthy accumulation phase.
One final capitulation below the current lows to mark the cycle bottom.
Then the road back toward new highs into the end of 2027.
I think the worst of the downside is largely behind us.
But if the market sees one final washout later this year, I wouldn't rule out a brief move below the lower acceptance cloud, similar to what we saw in 2022.
Currently, that's sitting just above the $50 region.
Either way, I think anything inside that lower blue cloud, and especially below it, will prove to be phenomenal value for the next cycle.