🟡 Weekly comments
Last week, the risky asset class such as #ETH/#BTC or #S&P500 traded in range by developping an upside swing within the range. The mid-term resistance hasn't been reached however #ETH surpassed the 1275 short-term resistance this week end giving credit for a further upside swing extansion till the Inflation statistics in US on thursday.
Some Alts coins reacted with a strong short-term reaction which is the result to an alignment of the last past weeks volatility however like the #ETH or #S&P500 no one triggered a mid-term bullish signal. Some of them keep short-term upside potential such as #OCEAN, #ATOM , #ENJ, #MATIC, #AAVE, #ADA - but others are already on resistance such as #BNB
Playing the short-term upside swing on ETH, MATIC seems less risky than buying the all portfolio - However still to early to enter strong for the mid-term / long-term players.
🟡 Global Macro
On the Global Macro side the #WTI is still trading range between 83 and 69 USD which continue to decrease the pressure on Inflation, Grains like #Wheat are also trading range without eratic volatility which also help inflation to decrease.
#USD continue to evolve in a mid-term weakness trend, EUR/USD seems to have complete the short-term setback to test 1,08 area this week.
#S&P500 should test the mid-term 3985 resistance area within the range configuration before showing the wy for the next coming weeks (new downside swing are upside breakout)
#ETH bypassed 1275 opening 1350 and 1450 max (mid-term resitance in parallel of 3985 S&P500) above the short-term support at 1220
#BTC is approching the resistance ata 17350 und continue to underperfom the ETH (to play long better to select ETH as BTC)
Exemple of ALT COIN With potential remaining
Exemple of ALT COIN without potential (on resitance)
Auteur : Jean GUILLOU