Less than 2 hours left until daily close and BTC It is struggling to maintain $110,500 as support. This key threshold must be maintained for the recovery in altcoins to continue. For the first time in 7 years, the inflation report will be published on Friday and if the closure does not end, there will be no other report. Well ADA, SOL Coin What do the current charts tell us? What does what Poppe describes as the best graphic warn us about?
Best Chart in Cryptocurrencies
Michael Poppe wrote exactly this and argues that comparing the market cap of altcoins with BTC tells us a lot. It may be useful to examine this chart in the longer term to understand the cycle stages. And if Poppe is right, we are still in the beginning stages of bull markets, meaning a period of great rise awaits us.
“I also added the MACD because it represents the current phase of the cycle relative to the phase of the previous cycle. Where are we? At the beginning of the bull market.
This is the longest bear market in the history of altcoin markets and people are fed up with it. However, selling now would be the stupidest decision, as all indicators are about to make an upward turn.
This latest crash can be compared to FTX and COVID-19. All markets hit bottom around this time in the cycle. If you compare the MACD structure of the current cycle with the previous cycle, you will see that it is the same as what we saw in Q1 and Q2 of 2020. What happened next? “It’s a big bull market.”
If he is right, everyone will say that Poppein cryptocurrencies He will agree with the definition of “best chart”, but global developments and the risk of China becoming more aggressive are important question marks.
ADA and SOL Coin
Cardano (ADA) $0.670245 It is stalling at $0.663 and could decline further in the short term depending on whether BTC maintains the key threshold. Lark Davis drew attention to the MACD golden cross issue with the chart he recently shared. When this happened before, the price increased by 60 percent. History doesn’t repeat itself, but if external factors allow it, history more than rhymes for crypto.
“However, ADA needs to overcome the resistance zone around $0.74 to $0.77. A downward resistance line starting in August also awaits.” – Lark Davis
Carl Moon, for his slow but steady rise SOL Coin He expects it to return to $211.