According to the current market trend analysis, the overall market is indeed in a relatively stable sideways consolidation state, and the trend is slightly upward.
In the short term, Bitcoin is expected to fluctuate between $57,000 and $59,500, while Ethereum is expected to fluctuate between $2,300 and $2,450, and Solana is expected to operate between $132 and $141. The fluctuations in these ranges indicate that the market is waiting for new news drivers, especially in pre-weekend trading, when the market is usually slightly cautious.
According to past experience, the market sometimes experiences a correction on Friday, which is due to some investors taking profits before the weekend. However, judging from the current trend, the upward trend of the market has not been broken, indicating that the market remains in a good and healthy state.
The lack of news is indeed a major reason for the current calm market. To see greater fluctuations or breakthroughs, we may need to wait until the release of some important economic data or policy news next week. We can focus on next week's economic data, especially macroeconomic indicators such as inflation and employment, which may become key catalysts to drive the market.
The current market may indeed be the key point to open the upward channel. Even if there is a short-term correction, it is unlikely to fall below $55,000, especially considering that the upcoming CPI data is good, while last night's PPI data had limited impact on the market. The market's focus has shifted to the upcoming FOMC meeting, and the discussion on the extent of the interest rate cut (25 basis points or 50 basis points) may trigger short-term market fluctuations.
There are indeed different views on the market trend after the interest rate cut. Some people believe that the interest rate cut may trigger a market decline, arguing that the interest rate cut indicates an economic slowdown and may cause investors to avoid risks. Others believe that the interest rate cut will stimulate the market to rise, especially risky assets such as cryptocurrencies, due to the increase in liquidity brought about by the reduction in funding costs.
But one thing is certain, in the long run, the market trend after the rate cut is likely to be upward. Rate cut cycles tend to drive funds into the market, especially long-term investors can seize these pullback opportunities to make layouts. Whether it is a pullback before or after the rate cut, it is a reasonable long-term entry point. Short-term fluctuations are difficult to predict, but long-term trends are clearer. Therefore, if you are a long-term investor, any current pullback or decline can be seen as an opportunity to buy on dips.
Potential altcoins worth watching now
1. OK
Ondo's price movement depends on many factors, including the project's own technical updates, the market environment, and macroeconomic conditions. Assuming that Ondo launches important updates or announces major progress related to Ethereum in the future, this may stimulate positive market sentiment, thereby driving the price to test the upper resistance level of $1.26, and even break through to the target of $1.72.
However, there are still risks in the market, including regulatory pressure and bearish market actions. If these negative factors prevail, Ondo may face a price slide to a low of $0.444. This scenario would result in the average level of the token price stabilizing at around $0.852.
In the long term, as the DeFi ecosystem continues to grow, Ondo, as an Ethereum-based project, is expected to achieve substantial growth by leveraging the expansion of decentralized finance. If the market maintains a positive trend and the price can maintain above the psychological support level of $1.00, Ondo may have the opportunity to move closer to the target level of $1.72 in the coming months. However, in times of uncertainty or a downward trend in the market, the price may fall back to $0.571, with an average trading price of approximately $1.145.
During this period, investors need to pay close attention to market sentiment, regulatory policies and the latest developments of projects to decide whether to make long-term plans or short-term operations.
2. BABY
PEPE is currently within a key symmetrical triangle structure, which usually means that the price is likely to see a sharp fluctuation after a period of consolidation. Although bears are in the lead at this stage, bulls are looking for opportunities to launch a counterattack. PEPE's RSI (Relative Strength Index) is below the midline, indicating that market sentiment is still cautious and bulls have not yet fully exerted their strength.
As PEPE prices consolidate inside the triangle, the market's momentum will gradually gather to the apex, and once it reaches a critical point, it may trigger a bullish breakout. This breakout is expected to push PEPE prices up and challenge the key resistance level of $0.00001. However, this process depends on whether bulls can seize the opportunity of the change in market sentiment and push prices to break upward.
If there is a change in market fundamentals or sentiment, especially if bullish forces suddenly increase, the price of PEPE may accelerate. However, investors still need to pay attention to the pressure level at the top of the triangle, as well as the volume and market sentiment during consolidation to determine the direction and strength of the breakthrough.
3. TREES
BOME does show potential in the Solana ecosystem. Although the current price performance is relatively stable, the market consensus and strong financial support indicate that it may have bigger moves in the future. The consensus accumulated in a short period of time after BOME was listed on Binance and the financial strength behind it show the existence of the power of the dealer. Although the price is close to the bottom now, once the trading volume starts to increase significantly, BOME may replicate the amazing increase of PEPE.
Considering the market support behind it, BOME's price rebound is increasingly likely, especially when the rising momentum accumulated at a low level is strong enough. In the future, if the market environment stabilizes and capital inflows increase, BOME is very likely to trigger a round of price surges. Therefore, for investors who are concerned about bottom layout opportunities, BOME is undoubtedly a currency worth tracking and may become the next hot product leading the market.
