$OTHERS / $NDX


If we value low cap #altcoins against the $NDX the story is very clear.
We never had a bull run in alts, just corrective moves. This is why a lot alts released in 2022-2023 with strong promises of adoption and network effects - especially L2's - fell flat on their face.
A lot looked like they had impulse waves mid 2023 - but the move was all corrective.
Valuing the market in that lens what we really have is another low that needs to finish here.
The implication here is that we have only a wave 1 for gains coming. And it will take time for the subsequent wave 2 to clear out.
Patience will win it.
Invalidation level above is set, level below is obvious.
Good Luck Degen.
DEGEN-3.78%
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