$ETH – $STX – $SUI My BUY & SELL levels

Hi everyone, welcome to today’s altcoin bible. Get into the charts really quickly in a sec. Just while I’ve got you here Joe and I will be recording with Exchange UpTrade a webinar around some top picks that we’re looking at in the crypto market space and also just an update on generally where we see the macro.

It’s going to be a really exciting webinar, a session that we’ll be releasing with links tomorrow that you can sign up. So please stay tuned for that. Tomorrow as well is Newsletter Day, if you’re a subscriber, I will be releasing an update on our Top 10 Portfolio. It is a longer month, we’ve got 5 weeks and 5 Thursdays in this month, so, when that does happen, we do a video, I go through our Top 10 Portfolio and just break each chart down, and basically walk you through what I’m seeing and if there’s going to be changes to the buy and sell signals.

And yeah, just generally tell you where the market sits at that, that current time. They’re generally, you know, reasonably long sessions and I, I really enjoy them. So that’s dropping tomorrow. Again, I will provide the link for the webinar. All right, let’s crack into the charts. Now, SUI is going off its head.

It’s up about 140 percent from the lows, if I’m not mistaken. It got up about, yeah, 140 at its peak.  Now, what’s interesting about Sui is, and it’s been talked about a lot in circles that on Twitter, especially from the likes of Raoul Paul and others, it’s got a very interesting team it looks to be a very interesting Layer 1 option.

Competing with the likes of Solana and, you know, even ETH, but it’s a very low market. It’s about two billion dollars. It’s an interesting case. So you can dive in and do the fundamental value, but I’m looking at a pure charting standpoint. I believe that Grayscale just released a trust with SUI in it, so that’s probably why we’re seeing this.

Expansion of price action is trying to make that speculation. So  just broadly though, SUI was in a massive downtrend on the daily, just like a lot of cryptos. When you see massive moves like this, I get very cautious and skeptical, especially in this current environment. Of course, I do expect the market to be stabilizing fairly soon here.

Bitcoin and Ethereum look like they are, which is great. So that will lend credence to some of these cryptos, you know, moving higher in the short term. But, again, with a 140 percent move in this climate, I’m still expecting this to come down a little bit, where you can get some value. If you’ve, maybe, you like SUI, you’ve decided to move out of SUI, or you’ve just been watching it, you’re looking for those the optionality to move back in, like, this is a great time, because you’re seeing a and attempt at a trend change here.

It’s broken that downtrend and now it’s going to come back and retest these levels if they hold. Then, you know, we can get quite excited. But with SUI here, I think the Fibonacci levels I’ve just outlined here, moving back down to the breakdown level, are very interesting. You know, 0. 86 in  terms of price action, so you get 86 cents, and you can 79 and sort of scale it down within that.

So for SUI here, it is actually a danger zone that I’m bringing it up, but I’m trying to explain the nuances around it. That I think it runs into these resistance levels and it already kind of has this volume above it about that dot, just above a dollar. Then you’ve got the 200 day moving average above it.

So I think it is definitely in a area where we’re going to see sellers come back to the party that, you know, couldn’t sell, you know, down in these regions. And now it’s back into this kind of really choppy volume zone. People are going to look to take. In this kind of region, especially after 140 percent bounce.

So it is a bit of a danger zone but also looking for opportunity there. Sui. Now Stacks is my,  I guess, Wonder Watch this week. There aren’t too many charts that look, you know, crazy amazing, but they’re all building. And I’m looking at Stacks right now because I think Bitcoin’s stabilizing and moving higher.

Just how Stacks has been, I guess, consolidating in this, you know, downward wedge that it broke out of, came back down, retest the low, broke back out again, and now it’s building into this ascending wedge. Now, I’ve got this red line here indicating the danger zone here, and I might just get rid of that, because what I’m seeing is  essentially a, ascending triangle, you know, through this region.

So  just to go over it again. Now this is building. If this breaks to the upside  through this here and really accelerates, we can see something really, really strong here and see stats, you know, move back towards that 2 mark, which I think it does especially at Bitcoin and Ethereum stabling. RSI looks good.

Stoke RSI leading to that, you know, nice power zone region. So I really, really liked it. You’ve got the buy and sell sequence here to the newsletter. The game zone is obviously breached, and then it’s in a bit of knife catching territory, but now it’s climbing back up into this region. Once it’s back in there, that’s what I really want to see.

This kind of, you know, bounce kind of action, grind out, grab that cup and handle. Now, my Cherry Riot for this week, Yes, it fits the same as Stacks, but I’m just looking at purely a fundamental value level here, the ETFs that the the Ethereum excuse me, FA,  excuse me, FE Grayscale Trust. We’re actually seeing a real slowing of the selling from that trust.

We’re also seeing some net inflows begin to come back in the market. BlackRock is now a net buyer. So Ethereum after about a 30 percent drop from those, you know, 3, 500 levels, I think it’s just mad value that it was, you know, even down 2, 100. That’s absurd. So it’s an overextension of you know, an extreme move, which I think we get a mean reversion.

We get back above that 3, 000 fairly soon. I love this sort of action here. It’s just, you know, higher high, higher low stuff. And it hasn’t created, you know, full high or low here as in a big close up in this region yet, but it’s trying to. It really looks like it wants to. And it’s closing above that 10 EMA on the daily, but it’s almost like what we just showed you on Stats, but a little bit more advanced.

Ascending triangle but again, this is a really nice beginning of our high, high, high or low uptrend. So I want to see it close a little bit higher and we can continue this party back into this demand zone and this range. RSI looks fantastic. Looks like a bottom grinding up. Stoke looking really, really good as well.

So don’t mind that. And again, the ETFs will drive, you know, Ethereum higher as long with Bitcoin, you know, if the market wants to stabilize. So that’s what I’m saying. So yeah, guys, hope you have a wonderful day. Catch you hopefully for the webinar and also I hope you tune in for the portfolio update.

Have a great day. See ya.