From Doom To Boom: Powell Saves The Markets

Written by Jason Krutzky, Chartered Meme Technician at Spot Trading.

What a turnaround! Just last week, I was expressing serious concerns about potential market top signals and preparing defensively for a downturn. The fear was real and justified, given what we were seeing.

But this week completely changed the narrative.

On Friday, Jerome Powell shifted the market's trajectory by moving from a restrictive-neutral stance on rates to an easing bias. The market responded enthusiastically to this dovish pivot.

ETH reached new all-time highs while SOL posted strong gains. Market sentiment has clearly shifted, and we're seeing this reflected in the prices of many of our favorite coins, particularly alts.

In other news:

• The Secret Zone where dead coins come back to life

• The $DILDO team strikes again

• How to trade like a sniper

• Tom Lee calls the bottoms in ETH 

• Football.fun pops off

• The alt szn fuze was lit on Friday

If alt season is actually beginning now, this has two major implications: First, we may be approaching the end of the familiar 4-year crypto cycle. More critically, however, this also means that the largest price movements of this entire cycle could be just ahead of us. 

Now is the time to be laser-focused, so let's dig in and see how things are looking across the markets.

From Doom To Boom: Powell Saves The Markets

$BTC (-2.27%)

Following last week's high sweep and rejection, I expected BTC to decline this week and that's exactly what happened.

If this week closes below last week's low, I expect continued downward pressure before any significant bounce occurs.

My target zone is $98k - $106k, with particular focus on the Anchored VWAP from the April low, currently sitting around $105k.

With ETH and SOL maintaining strength, continued BTC selling makes sense. This $98k-$106k range is where I'll be watching for a potential bounce opportunity.

Buy BTC

$ETH (+6.80%)

Ethereum's performance over the past two months has been remarkable. Going from essentially a 'dead coin' in March to the strongest performer in crypto represents one of the most dramatic reversals possible.

Anyone who stayed bullish through the past few years deserves credit for maintaining conviction—congratulations on sticking with your position.

Now that we've reached new all-time highs, what comes next is genuinely difficult to predict.

Some consolidation here would be natural given how far and fast ETH has moved. If we do see consolidation, I'd want to see the range remain tight, holding above approximately $4k.

Alternatively, this breakout could be just beginning. Remember, ETH has been consolidating for four years—this move may have much more room to run.

If ETH continues pushing higher over the coming weeks, my next major target is the 1.618 Fibonacci extension (measured from the 2021 high to 2022 low) around $7,400.

The 1.618 extension is the most common target after breaking out from a long-term base, and we'll likely see some profit-taking at that level.

Buy ETH

$SOL (+7.37%)

In Friday's note, I highlighted the significance of the $188 level. Let me expand on why this price point has been so crucial.

The $188 level represents the opening price of the weekly candle that initially propelled SOL to all-time highs. When it lost this level in February, it signaled a trend change and set expectations for the powerful two-month decline that followed.

During the rebound from the $95 April lows, the rally stalled in mid-May at exactly $188, which makes perfect sense. When important support levels break, they typically flip to resistance on future retests.

SOL has been battling to reclaim $188 ever since, but that dynamic is now changing, as it appears ready to close its second consecutive week above this level. This flips $188 back to support and opens the door to higher targets.

Just above, there is a weekly Fair Value Gap between $220-229 and the 50% Fibonacci level at $242. Both could provide near-term resistance and represent the key levels to watch.

These are the 'final boss' levels—if SOL can break through them, I'll be targeting new all-time highs.

Buy SOL

Chart Of The Week

$PYTHIA

A few weeks ago, a reader asked if I was following $PYTHIA and the broader DeSci (Decentralized Science) narrative. While I was aware of both early on, the ideas seemed a little too far-fetched for me at the time, and I lost track of the space quickly. 

It appears that was a mistake. Let's discuss.

For those of you who aren't aware, Pythia is the name given to the world's first rat connected to AI. This project involves implanting electrodes into the rat's brain to establish a connection with AI. The AI then guides the rat to answer questions by stimulating specific brain areas, effectively creating a two-way feedback loop between the rat's brain and the AI. Insane.

Since its launch, the $PYTHIA token has been on an incredible run, so I definitely feel like I'm late here, but that's exactly why I've chosen to highlight it now.

The chart may be showing some warning signs that suggest this remarkable run could be approaching an inflection point.

Buy PYTHIA

Looking at the technical setup, two things concern me: a rising wedge pattern (which is generally considered a bearish reversal signal) and bearish RSI divergence, where the RSI momentum indicator has been declining even as price continues making new highs. This divergence suggests weakening buying pressure beneath the surface.

Now, price can correct in two ways: through outright decline or through time-based consolidation, where it moves sideways. While this technical setup appears bearish, it's entirely possible the token could continue defying gravity and pushing higher, especially in a strong, narrative-driven bull market. But I think this setup warrants caution now.

Regardless of what happens from here, $PYTHIA's performance has motivated me to dive back into researching the DeSci space more broadly. There's clearly something happening in this sector that deserves attention, and I'll be sure to share my findings in an upcoming note.

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Late To The Party? Getting To Know $TIBBIR

I've been lowkey watching $TIBBIR for a while, and basically, it's been ripping the entire time. But because I've never really understood it, I've neglected to get involved, and now I'm feeling like I'm super late to the party. 

This, of course, frustrates me to no end, but instead of throwing in the towel and accepting this potential outcome, I decided to nip this procrastination in the bud and get to learning. 

I've come to realize there are a ton of resources out there, particularly over at The Altcoinist, and I've spent some time this weekend reading through several of the articles they've written on this fascinating project. Here's the rundown:

While it has not been officially confirmed, it's widely believed that $TIBBIR was launched by Mickey Malta and the team at Ribbit Capital. These guys are OGs in the crypto VC space who've been early backers of basically every company that matters. 

Core Concept: "Intent Rails" for an AI Agent Economy

The central idea behind $TIBBIR is creating foundational infrastructure for a future where swarms of specialized AI agents conduct tasks and transactions on behalf of humans, particularly in the world of investing. The project's primary function is serving as the universal verification layer for this new agent economy, solving the crucial "Know Your Agent" (KYA) problem.

$TIBBIR aims to become the essential trust layer for all machine-to-machine interactions, positioning itself as core digital infrastructure for the future.

The Technicals

From a technical perspective, the chart looks great if you're already long, but I don't see a good entry right now. For that, I'd be looking for one of two things: Either a pullback into the zone around $110m market cap or a weekly close above a $220m market cap. Until one of those two levels arrives, I'll patiently sit on the sidelines and lick the wounds of another missed mega-opportunity. 

Buy TIBBIR

Key Takeaways

Don't think of $TIBBIR as just another cryptocurrency, but rather, as an infrastructure play. It's an ambitious project building foundational "trust rails" for a future economy run by AI agents. The project is built on the thesis that verifiable digital identity (for both humans and bots) represents the next massive fintech opportunity.

The assumed involvement of Ribbit Capital signals that this is a serious, long-term strategic initiative rather than a short-term project. While its first use case targets finance and crypto, the technology is designed for broader applications across travel, healthcare, e-commerce, and legal services. Basically, anywhere autonomous agents need trusted credentials.

If you want to dig deeper, I recommend starting here. 

$YZY Coin Dies A Quick Death (Thankfully)

You'd have to have been completely offline this week to have missed the $YZY token launch, but for those who did and want the summary, I've got you covered.

On Thursday, a video surfaced from the @YZY_MNY X account of Kanye announcing that his official token, $YZY, had just dropped. Traders jumped on it immediately, and within hours, the coin reached a peak market cap of nearly $3b. 

The big problem?

Kanye is basically the worst possible thing that could happen to this space. 

Given his history of controversial statements and behavior, many in the crypto community, myself included, called for boycotting the token entirely. The market seemed to agree. The coin is currently trading down over 75% from its peak.

But as on-chain investigators have dug deeper into the token and its deployers, the situation appears even more problematic than initially thought. There are concerning parallels being drawn to the extractive $LIBRA launch, particularly the fact that known bad actor Hayden Davis received $58M in locked funds from that launch the day before $YZY went live. Whether or not he was involved is still unknown, but the timing is curious.

Another major red flag: The token's distribution shows extreme centralization, with 94% of the supply controlled by insiders and the top 100 addresses holding 98.4% of total tokens. This leaves retail investors with less than 2% of the supply, creating perfect conditions for manipulation and coordinated selling pressure.

The bottom line: This launch exemplifies everything wrong with celebrity token drops: Poor distribution, questionable timing, and insider control that leaves regular investors holding the bag. 

I'm staying the fuck away from this coin, and I recommend you do the same. 

The Internet Goes Crazy Over Cracker Barrel Rebrand

I don't have a lot to say about this, except that it has been fascinating to watch the internet spiral over the Crack Barrel rebrand. 

Of course, as you would expect, degens quickly spun up $CBRL on Wednesday, and to be honest, it was looking pretty good until about mid-day Saturday. Unfortunately, it has since died. 

I think the lesson here is simple:

Every viral trend is being gambled on. If you want to participate, which I assume you do if you're reading this, the faster you can see them forming, the more likely you are to profit. 

'What's the CA' should be your default mindset. 

Once you've found it, pop on down to your local 'Old Crypto Store' and do some speculating! 

HMU if you have any questions, have a killer trade idea, or just want to talk shop. I'm always available at jasonk@spot.dog