Foreign media commentators believe that the recent cryptocurrency market has shown significant divergence. HYPE's short-term upward momentum may slow after hitting a new all-time high; Ethereum is approaching oversold territory after falling below $2,000; and while TON has shown common bullish signals, its previous gains have been too large, and its subsequent driving force may not be sufficient.
After rising to a high level, HYPE may consolidate first.
The article states that HYPE recently rose to around $76, continuing its strong upward trend since March. The price remains above major moving averages, with the 50-day, 100-day, and 200-day moving averages still in a bullish alignment, indicating that the medium-term trend has not been broken.
However, the current price is significantly lower than the 50-day moving average. The report notes that HYPE is currently above $72, while the 50-day moving average is around $57. Such a deviation typically increases profit-taking pressure and makes those chasing higher prices more cautious.
From a technical perspective, HYPE's RSI has risen above 76, entering the common overbought zone. The article argues that this doesn't necessarily mean the trend has ended, but rather a period of consolidation or a slight pullback is more likely. If the price consolidates within the $65 to $75 range, it could actually contribute to a more stable subsequent price movement.
ETH is nearing oversold levels after falling below $2,000.
The article points out that Ethereum has weakened again recently, breaking through multiple support levels and falling below $2,000. The current price is also below the 50-day, 100-day, and 200-day moving averages, indicating a continued short-term weakness.
On the other hand, ETH's decline has also expanded the potential for a rebound. The report mentions that its RSI is approaching 29, nearing typical oversold territory. Historically, ETH rarely stays below this level for long, often experiencing a period of recovery.
Based on the range given in the article, if ETH rebounds from approximately $1975 and regains its position above the 50-day moving average of approximately $2110, this will be the first step in its recovery. If it further recovers the 100-day moving average of approximately $2230, the rebound will continue to expand. The 200-day moving average is around $2500.
The article also notes that current trading volume does not indicate significant panic selling; the decline appears more like orderly profit-taking rather than rapid liquidation. Whether the $1900 to $2000 range can provide support remains a key focus for short-term observation.
TON shows a golden cross, but the signal is lagging.
Regarding Toncoin, the article states that its 50-day moving average has crossed above its 200-day moving average, forming what the market commonly refers to as a "golden cross." This signal is usually seen as an indication of an improving medium- to long-term trend.
However, prior to this golden cross, TON had already risen from approximately $1.30 to nearly $2.90 within a few weeks, representing a cumulative increase of over 100%. Golden crosses that appear after a significant price surge are often more of a delayed confirmation than the starting point of a new round of upward movement.
The report points out that after a rapid rise in early May, TON experienced significant profit-taking, followed by increased price volatility. It attempted to regain a foothold above $2 several times, but lacked sustained momentum. Meanwhile, the trading volume during subsequent rebounds was weaker than the initial surge at the breakout, indicating weak new buying pressure.
The article argues that TON has not entered a bear market and its overall trend remains positive, with the golden cross indicating improved long-term conditions. However, relying solely on this signal to predict another sharp rise may lead to market disappointment.
