Bitcoin prices have plummeted repeatedly. When will they hit bottom?
There is indeed no obvious reason for the decline. Yesterday, the market has basically reflected the expected interest rate cut and the yen rate hike. There is no new data today that can change the market, including the decline in trading.
When the price rose to 63,800, we were fully bullish. Now that the price has fallen below 63,800, it is clear what we should do.
The bullish trend structure since 53,000 has been completely destroyed. Except for the lack of a lower high, the conditions for a trend reversal are basically in place.
The decline at the 4-hour level was too rapid and unprepared, and seemed to be affected by external factors. At the same time, after breaking through 63,200, a large number of long orders were liquidated.
The daily trading plan can be formulated. The biggest problem at the moment is that there is no good entry point, and we need to see if the market will give us an opportunity.
Buy the bottom of 5 altcoins that are worth 100 times more!
1.XRP
XRP (XRP) shows signs of intense competition between bulls and bears. The current price is
The market fluctuated between $0.58 and $0.63, reflecting cautious sentiment. Recent data shows that bulls are struggling to break through the $0.66 resistance level.
The price has grown by 36.19%, but the momentum is fading. The 10-day SMA is at $0.65, which shows difficulties in sustaining the upward move. If the bears gain dominance, the price may drop to
The support level at $0.55 represents a drop of about 10% from the current levels. On the other hand, a break above the resistance level at $0.66 could trigger a rally to $0.71, which would represent a gain of about 12%.
2.AIOZ
AIOZ Network is a decentralized platform that uses a global network of nodes to deliver content in a cheaper, faster, and more secure way. The price of its token AIOZ has risen 22% in the past week and is currently trading at $0.58.
On the daily price chart, AIOZ has formed an ascending channel. This bullish pattern occurs when the price moves between two upward sloping parallel lines, with the upper line acting as resistance and the lower line acting as support.
At press time, AIOZ’s Aroon line is showing an upward trend, indicating strong market momentum. The Aroon indicator is used to measure trend strength and identify potential reversal points. When the line is at or near 100, it indicates that the uptrend is strong and has recently reached a new high.
If this DePin token maintains the uptrend inside the ascending channel, its price will rebound to the resistance level of $0.63.
3.LMR
Lumeric (LMR) is a base layer technology that uses smart contracts to control how peer-to-peer (P2P) data streams are routed, accessed, and traded. Its native token, LMR, has attracted much attention over the past week, with prices rising 28%.
The rise in demand for the token pushed its price above the 20-day exponential moving average (EMA), which reflects the average price over the past 20 days.
When an asset price moves above this key moving average, it signals increased buying pressure and often signals continued price increases.
If LMR maintains its upward trend, its price is expected to climb to $0.033.
