Many people believe that not making money in a bear market is their own problem. In fact, looking globally, most assets are retracting, and it is difficult for anyone to remain completely unaffected. Coupled with the repeated external situation and increasing policy uncertainty, the market itself is in an unstable phase, and increased volatility is also the norm.
We return to the market
$BTC: Bitcoin's short-term support is concentrated around 69,000 to 70,000, which has been tested multiple times during the day. If it effectively breaks down, a revisit to around 68,000 cannot be ruled out. However, from an overall structural view, this area still possesses holding capacity and can serve as a reference area for phased layout. The general direction remains bullish, and the target for the upper range this month still focuses on 76,000 to 80,000.
$ETH: The Ethereum trend is relatively synchronized, with support around the 2080—2120 range. In extreme cases, it may dip to around 2030, which also belongs to the defensive area. If the support holds, there is still a chance to push towards 2500.
The altcoin market is noticeably weaker. Under the dual impact of mainstream asset fluctuations and rising risk aversion, funds continue to concentrate on BTC and ETH, leading to decreased liquidity and weak rebounds for most altcoins. Projects lacking fundamental support are more likely to see their valuations compressed in the current environment, presenting an overall characteristic of 'difficult to rise but easy to fall.'
It is important to note that recent surges in similar varieties like RAVE are essentially extreme market conditions controlled by funds. Prices can be rapidly increased and can quickly fall back, often accompanied by contract liquidation actions. For such assets, whether going long or short, the risks are extremely high, making it more suitable to avoid than to participate in speculation.
Relatively speaking, some hotspots with market consensus still have structural opportunities. For example, assets linked to hot topics or those that have rebounded after significant declines are more suitable for spot trading rather than high-leverage operations. For some leading DeFi projects, after experiencing emotional shocks, if there is no substantial change in fundamentals, they are more likely to experience a recovery trend.
Today, we will focus on a few altcoin markets:
Today, let's briefly discuss a few altcoins worth paying attention to.
Let's first look at GIGGLE. The current trend resembles a slower version of the 'Binance Life' rhythm. Earlier, I had suggested allocating some spot near 26, as altcoins are highly volatile and more suited for spot trading rather than leverage. A few days ago, during the pullback, I mentioned holding on to observe, and soon after, there was a quick rally. In terms of space, 'Binance Life' has already increased several times from the bottom, while GIGGLE's rise is still not substantial, leaving room for imagination. The market is not only about contracts; many times, spot trading is more suitable for the current market rhythm.
Now let's look at AAVE. Recently, negative news caused the price to drop, but the core fundamentals have not undergone substantial changes; it is more of a significant drop caused by emotional impacts. I mentioned yesterday that such situations often welcome a wave of recovery, and it appears to have started rebounding now. In the DeFi sector, besides AAVE, UNI's structure is also quite similar, belonging to the oversold range after an emotional decline, so it can be patiently monitored for recovery opportunities.
SUI is currently oscillating around 0.9 USD. More important than how much it has already risen is whether the trading position is appropriate. If participating, one can focus on observing the pullback opportunity at the 0.8935 line, with a target area roughly around 0.94, and defensive reference below at 0.87. Position management is still key: start with a small amount to test, only gradually increase the position when the trend is favorable, while also using short-term moving averages to protect profits. The more volatile the coin, the more you need to control your position.
Finally, let's briefly look at BNB. The current price is around 596 USD, and it is overall in a phase of oscillation and consolidation. Technically, the trend strength has gradually increased but is still under pressure from the 50-day moving average. There is support around 575, with greater pressure above at around 670 USD. In the short term, it is likely to remain in a phase of oscillation and accumulation, waiting for new directional choices.
Overall, the current market is still in a phase of oscillation and repair. Instead of frequently chasing short-term fluctuations, it is better to control the rhythm and select directions, waiting for clearer opportunities under manageable risks.
The cryptocurrency market is highly volatile; caution is needed when entering the market. This is a personal opinion and not a suggestion, for sharing purposes only.