How to deliberately practice and train your coin selection ability?
A simple way to train your coin selection ability is to pay attention to the relative exchange rates of small coins against BTC. You will form a matrix with two coordinates: one coordinate is up, down; the other coordinate is outperforming, underperforming. This will create four quadrants: outperforming BTC when rising, underperforming BTC when rising, outperforming BTC when falling (smaller losses), and underperforming BTC when falling (larger losses).
There is a type of asset that can outperform BTC when it rises and underperform less when it falls; this is the best asset choice, but it is unstable.
What you need to practice is long-term monitoring and judgment to discover such statistical relationships, so you can find those with high growth potential, good quality, and market attention that may outperform BTC. The crypto market is not considered a weak efficient market right now, so technical analysis can still yield excess returns.
As the bullish momentum strengthens, Ethereum (ETH) focuses on key resistance.
The price of Ethereum has surged 48.75% in the past month, currently ranging between $3094.73 to $3566.24. Technical indicators show bullish momentum, with an RSI of 63.11 and a positive MACD of 13.43. The price is approaching a recent resistance level of $3770. Breaking through this may allow Ethereum to target the next resistance level of $4242. The 10-day and 100-day simple moving averages are above $3600, supporting an upward trend. Ethereum rose 10.20% last week, showing strong potential for further growth. The bullish trend suggests it may continue to rise and could reach new highs soon.
Algorand (ALGO) grows 319% within a month.
Algorand's price has recently soared, fluctuating between $0.20 and $0.35. Over the past month, ALGO's price increased by 319.27%, rising 63.83% just last week. The relative strength index is 59.41, suggesting moderate market momentum. The recent resistance level is $0.41, with a second resistance level at $0.56, while the recent support level is $0.12. The 10-day simple moving average is at $0.47, exceeding the 100-day average of $0.38, indicating an upward trend. The MACD level of 0.0153 also reflects a positive trend. These figures highlight ALGO's significant growth potential in the current market environment.
Worldcoin (WLD) is expected to break through resistance in a bullish momentum.
Worldcoin (WLD) is trading between $2.15 and $2.82, showing strong momentum with a 38.42% price increase over the week and a 76.46% increase over the month. The RSI is 52.25, indicating neutral market sentiment, while the positive MACD is at 0.0394, suggesting upward potential. The recent resistance level is $3.09; breaking this could allow WLD to reach a second resistance level of $3.75, representing a potential increase of over 30% from the current price. The 10-day SMA is at $3.41, and the 100-day SMA is at $2.96, both above the current price, indicating room for growth. As the altcoin season approaches, WLD may break through resistance.
PEPE: A deflationary meme coin inspired by Pepe the Frog.
PEPE is a deflationary meme coin launched on Ethereum, inspired by the Pepe the Frog meme created by Matt Furie. Its goal is to capitalize on the popularity of meme coins like Shiba Inu and Dogecoin, seeking to become a leading meme cryptocurrency. PEPE offers tax-free policies and acknowledges its identity as a purely whimsical meme coin. From late April 2023 to May 2023, PEPE's market capitalization soared to $1.6 billion, creating millionaires among early investors and attracting a strong community. Its roadmap includes listings on major exchanges and 'meme acquisitions.' As meme coins gain attention in the current market cycle, PEPE's potential continues to attract interest from the cryptocurrency community.
Dogwifhat (WIF): A new dog-themed Memecoin on Solana.
Dogwifhat (WIF) is a new meme coin on the Solana blockchain inspired by the viral Dogwifhat meme. It joins the growing list of dog-themed tokens in the cryptocurrency space. Meme coins like WIF focus on building strong online communities and rely on viral internet culture to gain popularity. WIF aims to attract users through the association of memes and the strong capabilities of Solana. In the current market cycle, meme coins continue to attract interest due to their community-driven nature. WIF has the potential to appeal to those interested in fast blockchain-based meme projects. Its appeal lies in encouraging fun approaches and active participation within the cryptocurrency community.
