The day before yesterday, I reminded everyone that the market might be about to correct. As a result, Bitcoin really plummeted, and nearly 300,000 people were forced to close their positions. It was a horrible sight!
In fact, there are two main reasons for this plunge:
One is that the Federal Reserve’s interest rate cut plan for next year is not strong enough, which has caused bad luck for the U.S. stock market and Bitcoin as well;
Another thing is that Federal Reserve Chairman Powell said that they will not buy Bitcoin and do not want to change the law.
But I think these two problems are temporary and the market will digest them after a while.
Let's talk about today's daily $BTC market analysis. From the K-line, the 1-hour level is down, the 4-hour level is down, the 12-hour level is down, and the daily level is down. The intraday pressure level is 99,000 and the support level is 94,000 US dollars. Note that 95,000 is an important key position! !
Buy the dip on these 3 hundredfold coins to achieve wealth!
1. ALGO
The price of ALGO is $0.35, and analysts believe that the price of this token will soon reach $1. Algorand is one of the more established cryptocurrencies in the market, with stable growth potential.
It focuses on scalability and transaction speed, making it an excellent choice for developers looking to build decentralized applications. Algorand attracts investors seeking to balance risk and return, and it draws more investors due to its significant innovation in the blockchain space.
2. OM
MANTRA (OM) shows significant growth and strong market activity. Its current price is $3.99, reflecting an increase of 1.39% over the past 24 hours. The market cap of the token is $3.78 billion, with a 24-hour trading volume of $119.23 million, up by 35.76%. Its fully diluted valuation (FDV) is $7.16 billion, with a total supply of 1.79 billion OM tokens.
Sentiment around MANTRA DAO remains bullish, with the fear and greed index showing a high level of 'greed' at 75. Over the past year, the price of OM has skyrocketed by 15,096%, outperforming over 98% of the top 100 cryptocurrencies. During the same period, it also outperformed major assets like Bitcoin and Ethereum.
The trading price of MANTRA is 116.99% higher than its 200-day simple moving average (SMA) of $1.84, indicating a positive long-term trend. Additionally, the token recorded 15 increases in the past 30 trading days, with a success rate of 50%. It is also close to recent cycle highs, reflecting strong investor interest and market confidence.
3. TRX
Like Ethena, Tron (TRX) may also benefit from its connection to Donald Trump's WLFI and achieve a twofold price increase before his inauguration. Specifically, Tron founder Justin Sun is an advisor to WLFI and has invested $30 million in the project's tokens.
If investors start accumulating currency in preparation for the cryptocurrency boom under Donald Trump's administration, the price of TRX recently reached an all-time high (ATH) and could easily hit new highs again.
