Good morning, brothers. The black swan incident in Mentougou yesterday caused a big correction. Although the market is weak, there is a force that can hold up the support level of 68,000.
Judging from the on-chain data, a lot of stablecoins have flowed out of exchanges, and the frequency of BTC flowing into exchanges has increased. The stock of BTC in exchanges has flowed out significantly. I don’t know if it is a smokescreen released by dog dealers. Yesterday, the inflow of ETF funds slowed down, and Grayscale continued to ship out 100 million US dollars.
The strong pressure of BTC is 70,000. A large number of locked-in shares have accumulated above it. Once it reaches this position, it will be easily smashed down. Before the release of the US PCE data for April on Friday night, big funds dare not act rashly. Don't be scared off by the dog dealers and go short.
The 4 most worthwhile cryptocurrencies to invest in during the bull market in the second half of 2024 with a 100x increase!
1.Floki
Floki continues to show bullish momentum, with a 100% increase in trading volume and a 4.58% gain over the past day. In addition, it is up 30.19% over the past week and 54.10% over the past month, with a year-to-date return of over 680%.
FLOKI coin price has formed a symmetrical triangle pattern in the price chart and is hovering near the resistance level, which shows an increase in buying pressure in the market.
Furthermore, technical indicators EMA 50/200 days and MACD show positive price action on the 1D timeframe, suggesting a bullish outlook for the FLOKI token in the coming period.
If the bulls break above the resistance trendline, the Floki cryptocurrency will be ready to test its overhead resistance at $0.000350.
2. ENJ
In the past 24 hours, Enjin price has increased by 10.37% and trading volume has surged by 230%, showing strong bullish momentum in the cryptocurrency market. In addition, the ENJ cryptocurrency has risen by 17.25% this month, indicating a positive outlook for altcoins this week.
After exhibiting bearish price action since early March, ENJ price has formed a round bottom pattern, highlighting a significant increase in bullish sentiment towards altcoins in the cryptocurrency market.
Moreover, the RSI is hovering near its overbought range and the SMA is constantly supporting the price chart on the 1D timeframe, suggesting that buying pressure is outweighing selling pressure.
With the bullish breakout, Enjin Token price could rise to its overhead resistance at $0.4760.
3.GME
Although the GME token price is trading in a closed range between $0.00370 and $0.00569 and has recorded a correction of about 29% in the past seven days, the GME token price has risen by 16.08% in the past day, indicating a high probability of a bullish reversal.
The volatility of GameStop price keeps rising in the crypto space as the GME token has formed a symmetrical triangle pattern on the 4-hour timeframe and is about to test its resistance trendline.
The Moving Average Convergence Divergence (MACD) continues to rise in the chart and its average suggests bullish momentum. Moreover, the 50-day moving average is about to undergo a positive crossover, suggesting a positive price action in the coming period.
If GME price breaks out of the triangle pattern, the altcoin will be ready to test its overhead resistance at $0.0099.
4.NOT
The price of Notcoin ($NOT) has increased by more than 72.42% in the past seven days to $0.006884. NOT formed a strong support at $0.006341 and resistance at $0.009762 and $0.009764.
0.010947 USD. Currently, NOT price is trading above the 10-day simple and exponential moving averages.
The RSI (Relative Strength Index) is 79.79, indicating that the coin is currently overbought. Notcoin’s open interest has risen from $44 million to $101 million in 24 hours.
Despite the market correction, investors still favored long positions. Short liquidations exceeded $4.4 million, indicating bullish sentiment in the futures market.
The NOT token has the potential to reach the $1 mark. Through seamless integration into the TON ecosystem, strategic marketing efforts, upcoming real-world value as a tradable token, listing on other major exchanges, successful airdrops, and the launch of yield missions, Notcoin is poised to achieve significant growth and adoption. If market sentiment remains bullish over the long term, $NOT could reach the $1 mark by 2024.
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