Greener Candles Crypto Market Analysis - 04/06/25

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In one of my previous posts, I think I mentioned that I was about 65-70% in stablecoins, and since then, I'm now turning a little more bullish by looking at the charts. Definitely not saying I'll go all in, but instead, cautiously adding to risk-on. At first, I'll be looking into my high-conviction large caps, $HYPE, $SOL & $SUI and later on, if the bullish momentum picks up, I'll add to some beta plays.

Oh, before we take a general look at the markets, here's a good crypto & macro event calendar for this week:

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BTC

Bitcoin was rejected at the $106.5k level and is now testing support near $105K. If we get confirmation on lower time frames and volume to back it up, this could be a good spot for a long trade. If the support breaks, $103.3 is the next level to watch.

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USDT.D

Another chart I'm closely monitoring, the USDT Dominance, looks quite interesting as it broke the support of 4.7% and is now testing it as resistance. Rejection here would reflect positively on BTC and alts.

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BTC.D

However, the BTC Dominance chart looks like it's going to bounce back up again from the 64% support, a rejection from 64.32% resistance, and through the 64% support would bring in much welcomed relief for altcoins.

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TOTAL3

The TOTAL3 chart, which excludes BTC, ETH and stablecoins, is looking pretty promising to me. The fair value gap (that long inefficiency candle) has been filled, and we have bounced back up from the support(previous resistance).

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SOL

Looks like SOL has managed to turn $158 resistance into support and is now trying to bounce up from it. SOL is one of those coins I'm looking into right now, and actually opened a long here with a stop-loss at $157.41 and a take-profit at 165.92. If this trade takes off, I'm going to play it level by level, raising both TP & SL.

HYPE

While I've been busy farming the HyperEVM ecosystem with stablecoins, the actual $HYPE is back at doing hype things, and I missed the dip buying opportunity. Btw, has anyone else noticed that trading $HYPE is very difficult? It could be just me, but even catching dips like these is challenging because it usually bounces back up very fast.

However, the truth is that this is just another psychological trading barrier: I had bought too soon(green flag on the chart), didn't wanna "catch falling knives" and was waiting for a deeper correction. Even worse, as you can see in the chart, I had analysed HYPE quite well, and it did bounce up from the support I had drawn and broke that trendline as well. Still, for some reason, I doubted my own analysis and didn't make any trades...

Well, in with the next one. If the price comes down to test that $35.1 level, I'll make a buy. If that doesn't hold, I'll be adding some at the lower support level of $34.2.

Yeah, it all looks so easy when charted! 😅

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Conclusion

Pretty interesting week ahead, and I'm feeling fairly bullish. That being said, like I mentioned before, I'm not going to jump in with arms wide open, but slowly adding to positions while farming airdrops with stables. I'm currently focusing on HyperEVM of which I also wrote a tutorial just the other day.

My simple HL strategy is to use leverage on Hyperliquid DEX, and use profits to buy spot HYPE, which I then use in defi on HyperEVM.

That's all for today, don't forget to like, comment and follow for up-to-date crypto analyses & news!

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Let's connect on X

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Apps and Airdrops:

🔹 Hyperliquid - the best perp DEX out there. Trade, stake & farm the next big airdrop!
🔹 HyperSwap - Swap & provide liquidity on HyperEVM, earn points for the airdrop
🔹 LeoDex - multi-chain, multi-wallet dex for all of your swaps
🔹 VOLO - stake SUI to earn APR & airdrop points!
🔹 Grass - $GRASS token launch surprised everyone, don't miss the second season!

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