With Altcoins At First Ever 'Weekly Golden Cross', This Prominent Trader Remains 'Heavily Allocated'
Portfolio Pulse from Khyathi Dalal
Pseudonymous crypto trader Kevin predicts a challenging period for altcoins, despite the first-ever 'weekly golden cross' of the 50 SMA crossing the 200 SMA, potentially signaling significant market movements. Kevin specifically mentions Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Avalanche (AVAX) as part of his analysis. Another trader, Michaël van de Poppe, remains heavily allocated in altcoins, emphasizing patience for a market reversal.
May 08, 2024 | 3:03 pm
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NEUTRAL IMPACT
Avalanche (AVAX) is noted by Kevin as one of the altcoins that could struggle in the short term, in the lead-up to a 'weekly golden cross' that may signal significant market movements.
Avalanche (AVAX)'s mention in relation to the 'weekly golden cross' indicates a neutral short-term impact, as the market could experience both dips and consolidation periods before any significant movement occurs.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Dogecoin (DOGE) is highlighted by trader Kevin as one of the altcoins facing challenges ahead of a potential market movement signaled by a 'weekly golden cross'.
The mention of Dogecoin (DOGE) in the context of a potential market movement due to the 'weekly golden cross' suggests a neutral short-term impact, as the market could experience both sharp dips and consolidation periods before any significant movement.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Solana (SOL) is among the altcoins trader Kevin believes will face challenges ahead of a 'weekly golden cross', potentially indicating significant market movements.
Solana (SOL)'s inclusion in the discussion of the 'weekly golden cross' suggests a neutral short-term impact, with the market possibly seeing sharp dips and consolidation periods before any significant movement.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Ripple (XRP) is identified by Kevin as one of the altcoins that may struggle in the short term, amidst anticipation of market movements following a 'weekly golden cross'.
Ripple (XRP)'s mention in the analysis of potential market movements due to the 'weekly golden cross' indicates a neutral short-term impact, with possible periods of dips and consolidation before any significant price changes.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80