Stoic-Trader

▶️ DYDX remains stuck inside the black descending channel, and the recent breakout attempt was just a fakeout. ▶️ On the 4H chart, there are no clear signs of a reversal, so the recent upside move appears to be corrective. ▶️ The yellow zone, marked by a confluence of Fibonacci levels and mid-range resistance, is a key area to monitor for potential downside reversals on lower timeframes. ▶️ If a reversal plays out, the first target would be a retest of the 0.5200 low.

▶️ The downtrend is currently held by green support just above 24.00, but there are no signs that the decline is over. ▶️ The move from blue resistance to green support showed strong momentum, suggesting it may be blue wave A of a downside ABC pattern. ▶️ This structure implies that a corrective blue wave B may follow, eventually leading to a blue wave C to the downside. ▶️ The yellow ascending trendline, originating at the April low, is being monitored as a potential target for blue wave C. ▶️ However, it’s too early to confirm this path... further price action is needed to validate the ABC scenario.

After breaking the black descending channel price made waves 1/2 and pumped to the upside for wave 3, where it was held by the blue resistance zone. We are now in wave 4 correction, and I am waiting for reversals in smaller timeframes for long trades.

➡️ We had a pretty aggressive move to the downside, which was held by the bottom of the ascending channel. ➡️ Since price is still inside the channel, I have only switched my short-term bias to neutral, not bearish ➡️ Key for bulls: Breaking the green resistance zone around 0.022 ➡️ Key for bears: Breaking the descending channel bottom and blue support zone around 0.0195

➡️ Dogecoin blasted away from the black descending channel and past green resistance (now support). ➡️ In my primary count, we are currently in green IV correction, and expect new higher highs. ➡️ A retest of green support would be nice, but it is probable that price won´t go that far.

➡️ SUI has broken the green descending trendline originated on the early 2025 high. ➡️ Price is also being held by the gray support zone around 3.60. ➡️ Next target is the blue supply zone at 5.00 round number. ➡️ Invalidation is at 2.2937 (pink line), so be wary of liquidity hunts below gray support.

➡️ My wave count considers we're now in blue wave 4, and this corrections should finish soon. ➡️ The 125k round number is an interesting target for green wave III. ➡️ This scenario is valid as long as we stay above blue 1 top (at 110.529).

➡️ Solana has been correcting for the last couple of days, but the trend is clearly up. ➡️ There are 2 confluence factors that should give price support: the gray ascending trendline and the green zone. ➡️ Initial Targets (purple lines) are: 218.45 (100% extension) 258.79 (beginning of blue potential supply zone)

➡️ After confirming blue wave C, price is making a motive wave with sub-waves 1 and 2 complete. ➡️ Price is initially being held by the gray supply zone, which dates from October 2024. ➡️ This high could have marked the end of wave 3. Pullbacks are buying opportunities, but I prefer to see at least a 38.2% pullback for wave 4 before looking for new long trades.

Truefi´s recent upside after touching the green descending trendline looks convincing, with a motive wave and bullish RSI divergence. I´m labeling this as wave 1/A. Right now price is overbought, so I´ll wait for wave 2/B pullback to look for long trades. Next key resistance zone is just below 0.04.