Markets are distorted and speculation runs rampant

Recently, the market has gone out of control, with mainstream coins being pushed to the ground by junk coins, and all the money in the market is flowing into junk coins such as dog coins.

Markets are distorted and speculation runs rampant

The market has recently entered a “runaway” state, with mainstream coins being rubbed on the ground by junk coins. The funds in the market are flowing into junk coins such as dog coins, “shit coins” and pig coins, as these coins have recently had explosive quotes, which can bring ten times the revenue in a very short period of time, and under the herd effect, a large amount of funds are flowing in, and these funds are mainly from retail investors, which means that the current coin market has entered a highly speculative market.

The US government declared a state of emergency after a ransomware attack on Friday evening, May 7, shutting down operations, leading to a drop in US stocks overnight.

BTC

The price of BTC touched close to the $60,000 mark again on Monday and then fell back, showing that the short-term 60,000 mark is a watershed, the most critical line of defense for the short side, the long side needs to break through this line to get rid of the weakness in recent months, but obviously still need time to digest this pressure, but convinced that breaking through this mark is only a matter of time, the end of the bull market is far from it.

Although the price has been maintaining a range in the last three months, but its center of gravity still has signs of upward movement, as long as the May low is not lower than $ 50,000, late May prices will still show a shock to the upside, waiting for the end of the medium-term adjustment, will certainly resume accelerating upward market. Pressure level: 60,000, support level: 56,500.

ETH

After failing to break the $4,000 barrier for three consecutive trading days, it faces the risk of a short-term pullback, but since the momentum is still good, the pullback is expected to be limited and the market still has the ability to break new highs. Pressure level: 4000, support level: 3600.

UNI

Short-term adjustment phase again, focus on the lower support of $33 a line, if this week does not break this support, the overall adjustment space is limited, the market is expected to start a new rising market. Pressure level: 40.00, support level: 33.00.

BNB

Yesterday’s high retreat, short-term still go shock market, so should not chase up, patiently waiting for back to do more opportunities, the general trend is not over, after the adjustment will continue to move up. Pressure level: 700, support level: 600.

DOGE

There are three consecutive negative, short-term adjustment is obvious, if it loses $ 0.420, it will be further down, so short-term participation is not recommended, wait for the end of this round of adjustment, and then find new opportunities. Pressure level: 0.550, support level: 0.420.

DOT

Once again, there is a signal of defeat, and the short-term inability to effectively stabilize above $40 will cause prices to continue to oscillate repeatedly, but the overall risk is limited and continues to build a bottom. Pressure level: 40.00, support level: 33.00.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/markets-are-distorted-and-speculation-runs-rampant/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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