Goodness, two rollercoaster rides in one night!! Have you been a bit confused by Bitcoin's movements these days? Let me clarify for you. It's basically been oscillating within the range I mentioned yesterday. The price is gradually sliding down, and for BTC to soar again, we need more money to come in, and continuous good news is essential. We also need to keep an eye on the US stock market; if it doesn't stabilize, Bitcoin might take a tumble as well.
If you have some spare cash, you might try to add to your position if BTC drops below 92,000, but be cautious; if it drops to 80,000, you need to have money to buy more. The current drop does not mean it won't rebound; it's just not the right time yet, and both funds and good news are still on the way.
Don't be afraid to go empty-handed just because of the fear of a drop, as you might miss the opportunity for an increase. Today's BTC technical market analysis: From the K-line perspective, the 1-hour level is too chaotic with drops and rises followed by drops again, the 4-hour level is down, the 12-hour level is down, and the daily level is down, with an intraday resistance level of $95,000 and a support level of $90,000.
Let's talk about BNB again, which is currently hovering between 670 and 720. The 63rd airdrop is about to end, and some people might sell their BNB, which is quite normal. If you are a long-term holder, you could sell at the higher prices these days and buy back after the new airdrop ends, making it a profitable swing trade. Lastly, regarding ETH, it is slowly climbing between 3200 and 3600, performing slightly better than BTC. Although it is also consolidating, in the short term, it looks a bit stronger than BTC.
Bottom fishing for 3 altcoins valued at 10-100 times! 1.ENS
Ethereum Name Service (ENS) currently ranks 83rd in cryptocurrency. The market capitalization of ENS is $1.14 billion, with a 24-hour trading volume of $235.44 million, a significant increase of 83.86%. The fully diluted valuation (FDV) is $3.25 billion, with a circulating supply of 35.18 million ENS tokens and a total supply of 100 million.
In the past year, ENS has performed well, with its price increasing by 228%, outperforming 86% of the top 100 cryptocurrencies. During this period, it has also outperformed Bitcoin and Ethereum. The trading price of the token is above its 200-day simple moving average (SMA), reflecting a strong long-term bullish trend. In the past 30 days, ENS recorded 15 green trading days, accounting for 50% of the month.
2.JTO
As part of the Solana ecosystem, Jito has attracted widespread attention with the JitoSOL staking pool. In the past 24 hours, JTO has risen by 5.54% to $3.30, with liquidity reaching 0.1187, indicating strong trading activity. Yesterday, Grayscale added six new assets to its Q1 2025 Top 20 list, including JTO.
Its innovative MEV management strategy not only optimizes returns but also enhances market efficiency. In the long run, JTO has risen by 51% over the past year, outperforming most mainstream crypto assets. For investors focused on decentralized finance and long-term growth potential, JTO is an attractive choice.
3.GMT
GMT will also be in the spotlight this week as it will unlock tokens worth $16.4 million, accounting for 1.5% of the circulating shares. The token unlock will occur on Saturday, January 4.
The price of GMT showed a parabolic trend on Friday, peaking at $0.2500 before significantly retracing to the current $0.169. It has moved to a strong point on the Murrey math line, pivot point, and reversal point, while the relative strength index has moved from the extreme overbought point of 90 to the current 50.
Although the path of least resistance for GMT is downward, the token may rebound as traders buy on dips. If this happens, the next potential reference level to watch will be $0.2075, which is the upper limit of the trading range.
