Here it comes again, the market fluctuates violently,
In the past 4 hours, the entire network has experienced a liquidation of 132 million US dollars, mainly due to long orders!
At this time, the most important thing to do is to "stay steady"! The most inappropriate thing is to frequently trade and leverage contracts. The most important thing to do is to travel and invest in core assets such as BTC in stages; stay steady, and you will be the final winner! Don't fight against the trend, don't go against the market!
A critical week has begun. Will the downward trend continue, or will SSL be able to stabilize and rebound upward?
BTC：
Currently, Bitcoin is around 550. The rebound the day before yesterday failed to sustain, proving that the market selling pressure still exists. The M head pattern has been formed, and the key support points of Bitcoin are 48,000 and 40,000 US dollars.
Short-term resistance: $56,900; short-term support: $53,400
ETH：
The current price of Ethereum is $2,885, and $2,800 has been an important support level for the past three months. Although the price is still above $2,800, the longer it stays at this position, the more unfavorable it is for Ethereum, because it will gradually weaken the support. Therefore, if there is no strong rebound, it is only a matter of time before it falls below $2,800.
Short-term resistance: $2,950; short-term support: $2,820
In terms of altcoins:
XRP fell 6.50% and its price dropped to $0.415. It traded between a low of $0.4047 and a high of $0.4448. Dogecoin (DOGE) fell 8.75% to $0.1021, and Shiba Inu (SHIB) fell 8.70% to $0.00001547. MEME tokens such as PEPE, FLOKI, and BONK saw losses ranging from 9% to 14%.
The cryptocurrency market is experiencing its worst July. Under the huge pressure of the German and American governments' selling, the decline of BTC and ETH began to accelerate, and the overall market was relatively sluggish. At present, the overall implied volatility (IV) has rebounded significantly. You can choose to open a sell order at a higher IV level. A large amount of funds for quarterly delivery may suppress IV at any time.
Xiao Miao shares several cryptocurrencies that are suitable for bargain hunting when the market peaks
WHAT
Kaspa is a proof-of-work cryptocurrency that implements the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG does not orphan blocks created in parallel. Instead, it allows these blocks to coexist and be ordered by consensus.
Kaspa has a large and active community support, who often refer to it as “Bitcoin 2.0,” a term disliked by most Bitcoin extremists.
If you look at Kaspa’s chart, you’ll see that the project has delivered huge profits to investors despite the recent low market sentiment. To validate this notion, Kaspa hit an all-time high on June 30, when the price of Bitcoin had already fallen.
As investors have confidence in the token, I believe it will perform well for the rest of this cycle, especially considering it only dropped 14% during the recent market crash.
Therefore, Kaspa is a project that is expected to recover quickly and bring quick gains as Bitcoin regains strength.
Jupp
According to CoinGecko, Jupiter is a decentralized exchange (DEX) aggregator that allows users to exchange tokens in the Solana ecosystem at the best prices, with low slippage and low transaction fees. It also provides users with the best route to swap directly between multiple exchanges and liquidity pools.
As can be seen in the chart above, JUP has shown resilience and is still trading above $0.67, compared to its all-time high of $2.00.
The most important thing is that Jupiter is the top DEX on the Solana blockchain. As the SOL ecosystem grows, the value of JUP will increase. Therefore, I believe this project will recover quickly in the coming days and weeks.
TRX
Tron is a blockchain-based decentralized operating system, much like Ethereum, that aims to advance the decentralization of the internet and its infrastructure. Interestingly, the Tron blockchain is built around the use of its native token, Tronix (TRX).
As can be seen in the chart below, the TRX token has been holding up since the bear market bottomed out in 2022. Although it has not yet reached a new all-time high since 2018, the project has shown progressive strength to rank among the top 20 projects in the cryptocurrency market.
Even amidst the recent market crash, Tron has maintained a bullish structure and has the potential to reach $0.3 as the market recovers.
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
