Recently, Bitcoin has encountered some resistance at a high level. This adjustment is actually very normal for the market. The current adjustment range and trading volume are within an acceptable range. Market sentiment is still relatively optimistic and will not change the long-term bullish trend. From the overall trend, the current adjustment is more like a correction in the relay stage of the rise, creating a better foundation for future rises.
If we look at the weekly level, the current high sideways consolidation is likely to continue for a while, and this consolidation usually helps to accumulate more momentum for the next rise. I mentioned earlier that if Bitcoin continues to accelerate its rise, there may be a "catch-up" situation. This too fast rise often makes the market unstable and easily triggers a pullback. Therefore, the market needs to buy time through this sideways adjustment to provide stronger support for the subsequent rise. At present, the strong support level of Bitcoin is roughly around US$85,000. It is unlikely to have a deep pullback, but it also needs to be kept under attention.
As for the altcoin market, despite the short-term correction of Bitcoin, the altcoin market performance is relatively positive. Bitcoin's market capitalization has dropped below 56%, which means that more and more funds are beginning to flow into the altcoin field. Therefore, we have reason to believe that the altcoin market may usher in a new round of "altcoin season" in the future. In this context, investors still need to remain patient and continue to pay attention to and deploy potential altcoins.
Potential coins worth paying attention to
ELF
ELF is one of the altcoins that has performed well recently. Despite the overall volatility this year, recent market performance and technical progress indicate that aelf is expected to usher in a wave of growth. Regulatory policy changes and technological updates have gradually consolidated aelf's position in the blockchain industry, promoting the circulation and widespread adoption of its tokens. External factors such as the launch of the Bitcoin ETF and the improvement of exchange compliance have also contributed to the improvement of overall market sentiment.
Currently, aelf is trading at around $0.65, with a market cap of $483 million, and a 46% surge in price in 24 hours. This growth reflects the growing interest in the token. aelf's strong partner network is also a highlight of its development, especially its cooperation with large exchanges such as Huobi, which further enhances its liquidity and market recognition. Market analysis believes that the price of aelf may reach $4.75 in 2025, and investors can pay attention to the medium- and long-term performance of the coin.
STX
STX, which is highly correlated with Bitcoin, is also worth paying attention to. Recently, the price of STX has seen good growth, rising 8% in 24 hours to $2.22. As part of the Bitcoin ecosystem, STX is seen as a high-beta asset that can provide investors with additional leverage returns. Currently, STX has a market value of more than $3 billion and its trading volume has also increased significantly, showing strong market demand.
From a technical perspective, STX is in a consolidation phase, showing that buyers are accumulating chips. Although STX recently broke through the four-month resistance level, it has slightly corrected afterwards, which does not mean that the market outlook is not good. On the contrary, STX is above the 200-day moving average, showing its long-term rising potential. If Bitcoin continues to rise, STX may break through the current range and move towards the target price of $4.
FLOKES
Floki is a project that combines meme culture with real-world applications, with the goal of creating a decentralized ecosystem involving multiple fields such as NFT, blockchain games, and decentralized finance. In particular, Floki plans to "earn while playing" through the Metaverse platform, allowing users to participate by trading virtual assets and earning rewards, which enhances the market appeal of the project.
Floki has been performing strongly recently, especially after announcing its partnership with Coinbase and listing on the platform on November 21, FLOKI's trading volume has risen rapidly. The current trading price of FLOKI is $0.00022, and the market sentiment is relatively optimistic, with investors' interest increasing. FLOKI has risen more than 55% compared to its 200-day moving average, showing strong technical performance.
ABOUT
Sui is a blockchain-based project that recently partnered with Franklin Templeton, a world-renowned asset management company, to further expand its ecosystem. Sui’s partners include multiple blockchain projects, especially in the financial and telecommunications industries.
Currently, Sui is trading at $3.2 and market sentiment remains positive. Sui has a 107.66% gain from its 200-day moving average, indicating its long-term upside potential. Sui's market performance is stable, with 20 out of 30 trading days in the last month performing well, and investor confidence is gradually increasing.
Conclusion
Overall, although Bitcoin's short-term adjustment may bring market fluctuations, its long-term upward trend remains unchanged. At the same time, as more and more institutions participate in the market of ETH and other altcoins, the overall market enthusiasm remains high. For investors, it will be a good choice to continue to pay attention to potential coins with strong technical backgrounds and partner support, such as aelf, Stacks, Floki and Sui. Only by being patient and seizing market opportunities can we gain long-term benefits in the volatility of cryptocurrencies.
