New highs or just an illusion? | May 29th
Here’s the deal - It might seem like the market is all set to shower us with happiness and fill our wallets to the brim, but we have to put on our cool shades and take a closer look at what's really going on. Despite these little ups and downs, the overall trend is pointing in one direction: DOWN 🐻. We get it, it's not the most exciting news to hear. But hey, we're all about keeping it real here. Sure, we might experience some temporary fluctuations because of short-term factors or market sentiment, but that doesn't mean we're on the verge of a sustained rally. Sorry bulls, you’re just not that lucky yet. Let’s see what the market has in store for us savvy investors!
TLDR 📃
- We’ve highlighted potential trajectories for all our picks. SPOILER: up now, down later.
- One token is ready to rock and become the outperformer we believe it can be. Keep your eyes peeled, this might just be an opportunity you don’t want to miss.
- For significant upside to follow, BTC needs to flip $32,000 into support, which it isn’t on track to do - at least for now.
Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. One Glance” by Cryptonary sometimes uses the R:R trading tool to help you understand our analysis very quickly. They are not signals and they are not financial advice. Any capital-related decision you make is your responsibility and yours only.
Total Market Cap
The Total Market Cap (TOTAL) index represents the entire cryptocurrency market. We track this index to understand where the overall market is now and predict where it will go next.
Altcoins Market Cap
The Altcoins Market Cap index represents the evaluation of the altcoins market - all coins other than BTC.
Cryptonary's Portfolio
BTC | Bitcoin
ETH | Ethereum
DYDX | dYdX
HEGIC | Hegic
PENDLE | Pendle
Cryptonary's Watchlist 🔎
DOT | Polkadot
RUNE | THORChain
Let’s talk retests:
$1.25 was where RUNE experienced support in the past. Three weeks ago, that level was lost, flipping it from support to resistance. After a loss of support or a break of resistance, the price of an asset usually retests that same level again for confirmation. In this case, we’re now looking at RUNE retesting $1.25 in the coming weeks. Given that this is now resistance, chances are it will be unable to break above it, putting the asset back on track for $1.
SOL | Solana
SYN | Synapse
MINA | Mina Protocol
Astar Network | ASTR
THOR | THORSwap
OP | Optimism
LDO | Lido DAO
LDO is ready to rock, here’s why…
Ever since LDO flipped the $1.9775 - $1.85 region back into support, we saw it as a potential outperformer. As May is wrapping up, we've got a hunch that LDO will bring in some sweet returns during June, unless $1.85 is lost as support.
Also, there’s something very interesting on LDO’s monthly timeframe. We'll spill all the juicy details in our monthly report coming your way on June 1st. Stay tuned 👀.
Cryptonary’s take 🧠
It's important for us to roll with the punches and make the best of the situation. We have to play the cards we're dealt with. And remember, investing is a wild ride with its twists and turns. But if we stay cool, keep our eyes peeled, and make informed decisions, we'll come out on top. Don’t get lost in the greed - we’re still going down, just not as fast as anticipated.Action points 🎯
- Re-evaluate your jump in the market. More downside is possible - it’s better to wait for confirmation than to risk getting caught in the middle.
- Sip on your Mai Tais, there’s no need to rush. Take those eyes off the charts, and enjoy the wait.
- Got questions? Hit us up on Discord in the Technical Analysis channel. We’ll make sure to reply!
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