Last night, with some declines in the US stock market, it broke through the recent volatility range, but I won't predict where it will go. Looking at the market from two perspectives:
1. First of all, market sentiment is low, especially affected by the decline of altcoins; funds within the circle are not very active. At least the tokens active in CEX recently are very few, while on-chain activity is comparatively active, with signs indicating that some active funds are shifting from CEX to on-chain.
2. The current position of the US stock market indeed makes it difficult to rally. I believe BTC and the US stock market will both be sluggish in the coming days, primarily to leave space for the market after Trump's inauguration in 20 days. If a double top is to be formed, it is still possible to speculate on this news from the beginning of the month, depending on whether the main force is willing.
Operationally: It can gradually bottom fish after the New Year low, and the short-term pullback should be in place in terms of timing. The focus for rebound coins should still be on those that have recently shown strength.
Ambush 3 altcoins with a future value of 100 times! 1. TON
Tonstakers is the leading liquid staking protocol on the TON blockchain, now integrated into Bybit's Web3 wallet. This allows users to stake Toncoin ($TON) and receive $tsTON as a reward. The value of $tsTON gradually increases relative to $TON approximately every 26 hours. This mechanism provides competitive rewards while supporting the development of the TON ecosystem.
Through this integration, Bybit aims to connect its users with DeFi opportunities and allow 130 million participants in the TON ecosystem to participate in staking. Currently, the trading price of Toncoin is $5.58, indicating a price increase of 2.61% over the past week.
The trading price of this cryptocurrency is well above its 200-day Simple Moving Average (SMA) of $2.03, indicating strong long-term bullish momentum. However, short-term indicators (such as the 14-day Relative Strength Index (RSI) of 47.69) suggest a neutral trend, indicating that the price may consolidate.
Predictions indicate that the trading price of Toncoin will be around $5.63 by the end of this year, suggesting a potential slight increase of 0.81%. This implies limited short-term profit potential for investors, but the outlook for stability is also not optimistic. Additionally, the Fear and Greed Index shows 'Greed', reflecting positive market sentiment.
2. SHIB
Shiba Inu (SHIB) is a community-supported decentralized cryptocurrency. SHIB is built on Ethereum and has become a noteworthy digital asset.
The new member of the Shiba Inu ecosystem is the TREAT token, designed to enhance governance and liquidity. This token allows community members to participate in decision-making through a voting system, giving them a say in the project's future. TREAT also enhances liquidity, helping to maintain stability and support broader ecosystem development.
The Shiba Inu project is expanding into the metaverse to create a more interactive and unified platform for its users. TREAT contributes to this vision by introducing tools that enhance platform functionality. These efforts aim to increase engagement and build a cohesive community experience.
Additionally, the trading price of SHIB is $0.00002162, down 2.80%. The sentiment of its price trend appears bearish, with a Fear and Greed Index rating of 65, indicating market greed. The Relative Strength Index (RSI) is 37.25, suggesting a neutral position, pointing to potential consolidation. Predictions estimate that SHIB may increase by 226.97% by January 2025.
3. ENS
Ethereum Name Service (ENS) currently ranks 83rd in cryptocurrency. Its price is $32.63, with a 2.59% increase in the past 24 hours. The market capitalization of ENS is $1.14 billion, with a 24-hour trading volume of $235.44 million, a significant increase of 83.86%. The Fully Diluted Valuation (FDV) is $3.25 billion, with a circulating supply of 35.18 million ENS, and a total supply of 100 million.
In the past year, ENS has performed well, with its price rising by 228%, outperforming 86% of the top 100 cryptocurrencies. During this period, it has also surpassed Bitcoin and Ethereum. The trading price of the token is above its 200-day Simple Moving Average (SMA), reflecting a strong long-term bullish trend. In the past 30 days, ENS recorded 15 green trading days, accounting for 50% of the month.
The Fear and Greed Index for ENS is currently at 65 (Greed), indicating positive market sentiment. These trends suggest ongoing interest and optimism about ENS, but market conditions should be closely monitored.
