Bitcoin has made a slight rebound, taking other mainstream coins and altcoins along for the ride! However, we need to stay clear-headed; the chances of bullish sentiment are still smaller than bearish ones, especially with the Christmas holidays approaching and trading enthusiasm likely cooling off. If you bravely picked up some assets during this decline, you can now consider making a small profit by trading around 100,000, then wait for better opportunities!
Speaking of predictions, I think Bitcoin may fluctuate between 94,000 and 100,000. Although it has broken through the downward channel, institutions seem unwilling to increase their holdings during the Christmas period, so the downside risks are greater than the upside opportunities. The market may suddenly experience a 'pin needle pullback', so we should be cautious and avoid blindly chasing highs. If it really drops below 95,000, that would be a good opportunity for us to accumulate in batches! Remember, it's better to miss out than to get stuck! As for BNB, it's expected to consolidate between 670 and 710. If you're a long-term holder, don't forget to lock up your holdings for airdrops! Although BNB hasn't risen as sharply as BTC in this bull market, the airdrop rewards make it quite appealing. Platform tokens often go wild towards the end of the bull market; those who understand will know! As for ETH, the second-largest, it is expected to fluctuate between 3300 and 3700. Recently, there has been a steady stream of good news, and institutions have started increasing their holdings, making this rebound look quite strong. E-guardians, you can breathe a little easier! Some important news: 1. A whale who 'low bought and high sold WBTC for a profit of $14.26 million' has deposited 2,000 ETH (approximately $6.95 million) into Binance and currently holds 37,688 ETH. 2. Russian Finance Minister Anton Siluanov stated today that Russian companies have begun using Bitcoin and other digital currencies for international payments. 3. 2024 is a milestone year for the cryptocurrency market, marked by significant events including the launch of the spot Bitcoin ETF, the Bitcoin halving event in April, and Trump's support, overall seeing the S&P 500 index rise by 25%, with Bitcoin's price increasing by nearly 120%. Among the best-performing stocks, MicroStrategy (MSTR) leads with a 402% increase. 4. K33 Research: If history repeats itself, Bitcoin could reach its cycle peak within three weeks, possibly during Trump's inauguration.
Back to today's daily BTC market analysis: From the K-line, the 1-hour level is bearish, the 4-hour is about to decline or consolidate, the 12-hour level is bullish, and if the daily line closes positively today, it will enter an upward trend. The intraday resistance level is 102,000, and the support level is $96,500.
The winds are changing, position these three potential coins, and take off right where you are!!
1.SOL
Layer-1 blockchain projects are having a brilliant year in 2024. This altcoin reached an all-time high from November to December and recorded significant improvements in its network.
The Solana blockchain has achieved significant victories this year, sometimes even surpassing the Ethereum blockchain in terms of capital inflow and activity. Layer-1 has also facilitated the rise of some of the most popular meme coins emerging in 2024.
Considering the performance of SOL tokens this year and expectations of a stricter regulatory environment, many believe that altcoins may continue to perform well next year.
2.ADA
With its price soaring above the $1 mark for the first time in three years, Cardano has performed well in this cycle.
However, recent whale activity has raised concerns. According to cryptocurrency expert Ali Martinez, when ADA's trading price is between $1.15 and $1.33, Cardano whales are profiting by selling large amounts of holdings.
When the price dropped to $0.91, these whales immediately purchased 160 million ADA tokens, indicating their renewed trust in the network. Despite short-term volatility, Cardano's long-term outlook remains optimistic.
Analysts expect Cardano's price to stabilize around $1.20 as investor confidence returns, before rising to $3 or higher.
3.zen
Horizen (ZEN) has been in the spotlight this week as its price continues to steadily rise. The token has surged in the past seven days, reaching its highest level since May 2022. This impressive growth stems from significant developments, including the launch of Grayscale Horizen Trust and its listing on Gains Network, a decentralized derivatives trading platform built on Polygon.
Grayscale Horizen Trust is a key driver of ZEN's growth momentum. Grayscale Investments recently submitted an 8-K form to the U.S. Securities and Exchange Commission (SEC), indicating that the trust complies with regulations and has attracted the interest of institutional investors. The document shows that the trust issued 3,565,200 shares to qualified investors through a private offering, equivalent to 304,034 ZEN tokens (worth $4.7 million).
This announcement had an immediate impact, driving ZEN's price up by 30%. Since the trust's launch, the token has experienced a nearly 200% surge, rising from a low of $15 to a high of $41.61 today. Additionally, ZEN has successfully broken through the critical resistance level of $38.50, currently trading above this level.
From a technical perspective, ZEN shows strong potential for further growth. The token has formed a solid bottom at $16.30 and recently surpassed the previous volatility high of $38 from March 11. Analysts believe ZEN's next retracement level could be $45, indicating an 8.15% upside from its current price.
Horizen's privacy-focused mission, evolving ecosystem, and institutional support make it an exciting token to watch. With recent gains and a bright outlook, ZEN has performed exceptionally well.
