Trader Eugene: The crypto market shows relatively strong signals, bullish sentiment is returning
Trader Eugene posted on Telegram that he has switched to a long position and pointed out that despite the global risk sentiment declining, the crypto market still maintains a strong performance. This is the first time since the price collapsed from the $60,000 high that a significant relative strength signal has appeared.
Eugene stated that his trading style tends to favor buying on breakouts after a consolidation range, rather than bottom-fishing, to control risk. He also observed that several altcoins are forming a natural rounded bottom pattern, believing that the crypto market has a higher probability of moving upward in the short term.
He further noted that if BTC effectively breaks through $74,000, it will likely trigger a comprehensive rally in the crypto market, and he expects mainstream coins ETH and SOL to return to previous ranges, with target prices of $2,400 and $100, respectively.
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