Start paying attention to opportunities in Ethereum and the Ethereum ecosystem. The market has been changing. Previously, Solana's ecosystem was strong, but now Ethereum is clearly in the lead. In this case, when there is a pullback, you can focus on projects related to the Ethereum ecosystem.
Recommended projects include:
Leaders in the Ethereum ecosystem: ENS, LDO, OP
Next to consider: METIS, ZK, STRK, ARB
Other projects worth noting include: ENA, AEVO, ETHFI
Today, the focus can be considered on LDO and SSV, as well as the layout opportunities of ETHFI.
Invest in 3 altcoins that have increased by more than 10 times!
1. PEOPLE
Bittensor (TAO) made notable gains, rising more than 9% to $626. The project's market value currently stands at $4.6 billion. This price action follows a breakout of a descending channel pattern around $538, suggesting that the downward trend may be reversing.
Technical indicators support this upward trajectory. The relative strength index (RSI) is at 56.85, indicating growing bullish momentum while avoiding the overbought region, which suggests that prices are not overinflated. Moreover, the cryptocurrency is trading well above its 200-day simple moving average (SMA) of $122.07, specifically 413.01%. Trading above this long-term average typically indicates strong market sentiment.
The Fear & Greed Index currently stands at 78, reflecting extreme investor greed, which is typically a sign of high market confidence. TAO has also shown a steady performance, with 15 days of gains in the past month, indicating steady demand.
Market sentiment remains bullish, predicting that the price could rise by 229.56%, possibly reaching $1,957.66. These predictions, while optimistic, depend on ongoing market conditions and investor interest. Cryptocurrencies have high liquidity relative to their market capitalization.
2.PNUT
PeanutSquirrel ($PNUT) has made waves in the meme coin market, gaining a whopping 2,429.76% this month to $1.34. The impressive rally was helped by a top exchange listing and a popular tweet from Elon Musk. The token’s 24-hour trading volume also surged, up 4.89% to $1.29 billion, according to CoinMarketCap.
$PNUT’s popularity began with a viral story about Peanut, a pet squirrel that was temporarily confiscated by local officials in the U.S. due to concerns about rabies. When tests confirmed that the squirrel was rabies-free, interest in the token soared, attracting the attention of investors.
The bullish momentum is strong, with $PNUT breaking above its 50-day simple moving average (SMA). Its relative strength index (RSI) has climbed to 85, showing strong buying pressure. The moving average convergence divergence (MACD) also supports the trend, indicating that the MACD line has crossed above the signal line, which could lead to further gains. If the current trajectory remains unchanged, $PNUT could soon reach its next target of $1.50.
However, the higher RSI suggests that the coin may be overbought, increasing the likelihood of a pullback as investors book profits. In this case, $PNUT could fall back to support levels around $0.40.
3.ACT
Act 1: AI Prophecy ($ACT) has taken the cryptocurrency market by storm, surging more than 60% in just 24 hours, with its trading volume soaring 293.50% to $776.38 million according to CoinMarketCap. The rapid growth was triggered by Binance’s announcement that $ACT would be listed, with trading set to begin on November 11.
Prior to this, the Binance listing acted as a catalyst, pushing the token above its 50-day and 200-day simple moving averages (SMAs), signaling a strong bullish trend. The relative strength index (RSI) is currently at 95, indicating that the token may be overbought and potentially overvalued.
Technical indicators remain positive, with the Moving Average Convergence Divergence (MACD) showing a bullish signal as the MACD line crossed above the signal line. If the buying momentum continues, $ACT could break out to higher levels, with bullish investors targeting $1.00.
Market sentiment is extremely positive, with a Fear & Greed Index score of 78, indicating "extreme greed". It is predicted that if the cryptocurrency market remains favorable, the average price of $ACT may reach $2.19 by 2024. However, if the situation deteriorates, the price of the token may fall to $0.39. Currently, the rise of $ACT shows its potential, but investors should keep an eye out for signs of a market shift or correction.
