This drop was mainly dragged down by the US stock market. Why? It's because inflation is severe there, causing the stock market to be weak, and consequently, our crypto market also suffered. The Nasdaq and S&P 500 both dropped over 1% yesterday; can the crypto market remain unaffected?
Yesterday, the Americans stirred anxiety with the news about interest rate cuts, saying there won't be any cuts before July 2025. The crypto market has also been affected; it's truly a case of 'when the city gate catches fire, the fish in the moat suffer.' So now the question is, has the panic passed? Can we add to our positions?
Don't worry, let me explain slowly. Remember, this is just my personal review and does not constitute any investment advice! The crypto market carries risks, so invest cautiously.
Let's start with $BTC, which is expected to fluctuate between 93000 and 98000. It seems that a temporary bottom has been reached at the pin position of 92500 last night. The key factor will still depend on the performance of the US stock market; if it drops further, we might have to suffer as well. However, if the US stock market stabilizes, BTC might hover around this level.
Now let's talk about $BNB. It has performed relatively well in the past 24 hours, dropping less than Bitcoin, and is expected to consolidate between 680 and 720. The platform has also released some positive news, along with airdrops and lock-ups, hence its price will be relatively firm.
Finally, let's talk about $ETH. This guy is a bit weak, and it is expected to fluctuate between 3250 and 3550. Why? Isn't it because of the massive reduction in ETF holdings after yesterday's crash? However, if it drops further, its volatility should be similar to BTC's, and the likelihood of an oversell will be much less.
Let's talk about today's daily BTC technical analysis. From the candlestick chart, the 1-hour level shows an upward trend, the 4-hour level is building a bottom, the 12-hour level is downward, and the daily level is also downward, with an intraday resistance at 96800 and a support level at 92500 USD.
Which three potential coins can we layout next?
1.APT
Aptos is dubbed the 'Solana killer.' If it develops to a certain extent, Aptos can truly live up to its name. Aptos Labs CEO Mohammad Shaikh resigned last December, but Aptos has managed to stand firm, its value did not significantly depreciate, and it quickly recovered once the market stabilized.
Despite these developments, trends, and leadership changes, the quality of the Aptos ecosystem has helped it accumulate over $1.81 billion in TVL, setting records for user growth. Overall, this could lead to more attention for the token in the future, resulting in significant value increases, making it another project worth investing in to capitalize on the 2025 crypto season.
2.ACT
Artificial intelligence predictions leverage the growing interest in AI and its integration with blockchain technology. $ACT is positioned as both a meme coin and an AI-driven project, gaining attention due to its presence in the AI field.
Initially, it was issued as a pump coin, which inherently carries risk, but its market performance has shown potential. Although its market cap has fallen from $546 million to $240 million, this decline is attributed to market fluctuations rather than inflation or excessive supply injection.
The price and market cap of the token remain closely related, which is an important factor for its potential growth in the future. The current price of $ACT is $0.31, having previously reached an all-time high of $0.94. Although it has fallen 66% from its peak, it is still considered a token with growth potential.
Although it has not yet been listed on Coinbase, it is listed on Binance, which has brought it significant exposure. With 44,000 followers, community engagement continues to drive its momentum, making it a token worth watching for future opportunities.
3.PEPE
Pepe is inspired by the famous and controversial character Pepe the Frog, occupying a unique position in the meme coin market. This connection with a well-known internet icon sets it apart from other cryptocurrencies, attracting a niche audience within the crypto community.
The token is listed on major exchanges and supported by the community and large investors, thus increasing its visibility. Recently, its price has fluctuated between $0.00001791 and $0.0000207, currently valued at $0.00001845, having dropped 10% in the past 24 hours.
Nonetheless, Pepe's trading price is still 32.54% above its 200-day simple moving average (SMA) of $0.00001398. This indicates a strong position relative to that benchmark. Furthermore, the token has high liquidity, making it easier for traders to buy or sell without significantly impacting its price.
The 14-day Relative Strength Index (RSI) (momentum indicator) is 48.13. This neutral rating suggests that the token may continue to consolidate in the short term, without strong upward or downward pressure.
Additionally, price predictions estimate a potential increase of 231.89%, with the token's value possibly reaching $0.00006094 by February 2025. While these forecasts highlight optimism, the cryptocurrency market is known for its volatility.
