Evening market analysis:
BTC: It is hovering near the lower track of 68085, which is suppressed by the shape. As for the principle, Xiao Miao has said it many times that the main force is washing the lower track in the red box area in the figure, and usually it will try upwards 2~3 times. It is currently the second "high point". The mid-line chips at the previous low level can be held, but before the appearance of a large-volume positive line, do not chase new chips. In the short term, the main idea is to sell at highs.
A good opportunity is when a certain depth of correction occurs, or after a large-volume positive line appears. The intraday high and low point area reference: mid-line support 65185~64560, mid-line suppression 69515~70733,
ETH: The volatility of Ethereum is really not very nutritious. It feels like it is purely linked to the volatility of the market. Technically, it is a local high-altitude form. For the bulls, there are not many good opportunities at the moment. We need to wait for further amplification of the volatility. Now it is in a position that is neither up nor down. The range that can be gained from long or short positions is limited. In actual combat, we need to wait for a departure period. The reference short-term support range is 3083~3031, and the pressure range is 3363~3432.
SUN:
The current price is still in the pressure range of 185~192 that Xiao Miao gave yesterday. This range has the problem of large short-term deviation rate, as well as the suppression brought by the area of intensive trading of chips in the previous period. In addition, this 4H level rebound did not show good volume, so Xiao Miao still holds the view of yesterday: Don’t chase the SOL when it is rushing high, and wait patiently until it falls back to the support level to participate.
Short-term support is 171.4~165.3 (take advantage of the rebound), medium-term support is 155.2~159.3 (support pending orders), and short-term pressure range is 185~192.
It’s time for altcoins to rise!
Multiple altcoins are poised to surge in price as optimism surrounding the ETF launch spreads through the crypto market. As the market rebounds and the potential of altcoins further emerges, investors can expect a significant climb in price.
Xiao Miao recommends several potential coins here, which are about to rebound 10 times!
FIL price surges, leading the decentralized storage boom
At the beginning of this year, the price of FIL rose sharply from early February to March, with an increase of 138%, setting a new high of $11.85 this year, which not only surpassed the peak in 2023, but also set a new milestone. This round of increase has once again ignited the market's enthusiasm for FIL and the field of decentralized storage.
As a leader in decentralized storage, FIL is regarded as a key cornerstone project in the field of artificial intelligence. Since 2014, the Interplanetary File System (IPFS) concept behind FIL has been committed to promoting the popularization and development of decentralized storage.
The latest data shows that in the first quarter of 2024, the FIL network storage volume has soared to 1,900 PiB, with a significant annual growth rate, indicating that the network scale is continuing to expand. Although transaction activity has fluctuated, warehouse utilization has steadily increased to nearly 23%, clearly reflecting the strong growth trend of market demand.
NEAR Protocol (NEAR)
NEAR Protocol is currently trading between $5.64 and $6.77, showing mixed signals. The coin is struggling to break the $7.20 resistance level and bears seem to be in control. The relative strength index (RSI) is 43.08, indicating that it is not oversold yet.
On the positive side, NEAR has performed impressively over the past six months, with gains of 93%. However, the one-week and one-month changes show a decline and modest growth, respectively, suggesting that investors remain cautious. If the bulls regain strength, NEAR may target the second resistance level of $8.33, with a potential upside of 25% from the current ceiling. On the other hand, there is strong support near $4.94.
Toncoin (TON)
Toncoin (TON) is currently trading between $6.90 and $7.55, showing signs of bearish control as bulls appear weak and unable to break the $7.93 resistance level. The recent trend shows price weakness with a weekly decline of over 6% and a monthly decline of over 11%. However, TON’s price has grown by over 200% in the past six months, suggesting that the price could rebound if it breaks the $7.93 resistance level.
On the other hand, if the price breaks below the $6.62 support, a further drop to $5.97 is possible. The lower RSI and Stochastic values signal oversold conditions that could pave the way for an imminent bullish reversal.
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
