Fundamentals analysis: no one buys this shitcoin anymore. Technical analysis: looks like its about to break down out of a symmetrical triangle.
New money can't afford $ETH, fees are high, NFTS are expensive. Meanwhile Solana offers basically free NFT minting, a large ecosystem with powerful backers, great projects on the top of it, but mainly higher rewards with pretty much the same risk. If the market remains bullish (and looks like it will) I guess its safe to assume that a lot of new capital will flow...
In the current market conditions when BTC is in the price discovery mode buying alts can be a bit premature, however, I think that @cousincrypt0 could be right tweeting that we might never see BTC dominance at the levels of 2016 or 2018 again. After BTC had hit the bottom at 29k some of the altcoins like $Sol , $EGLD , $XTZ and others went for ATH showing...
$WAVES has been ranging for months . A daily close above the channel and I open a long. $WAVES tends to make fast and violent moves in both directions but I expect it to test 20.26 resistance and probably go higher.
Defi coins have been killing it recently. Theta in particular has broken the trend line and is about to complete a reversed head and shoulders pattern. Daily RSI is warm but not overbought. I expect a strong move to the next resistance at 8.5.
BTC is about to complete a diamond bottom pattern on 1h and 4h, if it breaks out I open a long position with a target at the next major resistance (33200k). BTC shorts plummeted yesterday but the price remained within the range so I am just hoping for a weekend pump as they tend to move in the opposite direction. Overall BTC looks weak.
A recent 50% drop, Elon's tweets, massive head and shoulders and a death cross make everyone turn bearish as a result Fear and Greed index dropped to 14 last week, meanwhile big boys are reaccumulating. If you look at CME BTC chart you'll see an almost perfect (AR, automatic rally should be lower then the next HH) Wyckoff Accumulation happening on all of the time...
ELRND has retested the support and is moving to the next resistance at 104. BTC dominance is dropping, If BTC remains stable a nice little pump should happen.