Interpretation of cryptocurrency market on May 11th, 2023CPI was slightly lower than expected last night. But based on the previous solid economic data, it has been a good positive. The market also pulled up directly, but there was a wave of decline in the early morning along with a dive in U.S. stocks, which was then largely recovered. The overall trend is still oscillating, but there has been a shift in the division of strength and weakness between the sectors. In last night's market, altcoins started to be stronger than BTC and ETH.
Besides, ETH's net deposit continues to rise rapidly after the Shanghai upgrade. It has now exceeded 300,000 tokens. Meanwhile, pledge gains continue to increase due to the massive rush for Memecoins. The pledge market has gone from lining up for exit to lining up for entry some time ago. It is foreseeable that the accelerated growth will continue, and in this atmosphere, the rise remains a probable event.
Last night ARB became the leader of altcoins. The fundamentals are strong and have the power to call. The tokens with leading potential are the regulars in the analysis. Although the previous fall made the entry slightly passive, it is unlikely that the position will be aggravated again without falling. The market change so far has been very favorable to our strategy. Positions have been full again and at a modest cost. Just be patient, wait for the money to flow back into the value pits, and bring a new wave of hype.
The only thing to note is that the old AI concept tokens should be kept from being touched for now. This decline is also not followed by an analysis of the previously very strong AGIX. While AI is still an essential narrative direction, the overly drawn-across performance of AGIX also reflects that there is some information in this sector that we still need to gather. So no entry in this round of layout and no consideration of this direction for now.
