Currently, Ethereum needs to stabilize around $3550 to initiate a new rally. If those who have not bottomed out previously see a retest in the $3450–$3550 range, it could be a good entry point. Trump is set to take office on the 20th, and historical data suggests there may be a rally before the positive news lands. It's important to note that after this rally, a deeper decline may follow, but after the decline, a more vigorous uptrend is likely. Based on previous scenarios when the Bitcoin ETF news broke, Trump’s inauguration could follow a similar pattern. From today, the strategy is to start positioning on dips, and from the 20th until the end of the month, a correction is probable. February and March are likely to see a decent overall uptrend! This is the general forecast! For those pursuing high-risk, high-reward, the above-mentioned strong assets are key targets for positioning. For low-risk, high-reward strategies, it's wise to accumulate Ethereum at lower prices, as it is likely to test $4000 before the 20th. Additionally, Bitcoin could be positioned in the $103000–$105000 range! This outlines the general operational strategy for this month. At any time, surviving is always more important than making a profit! Be a little less greedy and focus more on survival! The longer you last, the more opportunities you will have!
Position three cryptocurrencies that may be worth 100 times in the future! 1. ICP
Many altcoins have surged with Bitcoin's recent bull market trend, with Internet Computer (ICP) emerging as a standout. In the past 24 hours, ICP's price has risen by 11.36%, with a weekly increase of 13.68%. Currently, the token is trading at $11.89, attracting interest from traders and investors.
ICP has shown resilience, finding support around $10. After breaking out of its descending wedge pattern, this support level has become key to its recent rebound. Analysts say that if ICP can overcome the immediate resistance at $11.95, it may pave the way for further gains. Potential targets include $13.75, $15.50, and $18.80, indicating that the token has good upside potential.
More positively, the Swiss organization behind the Internet Computer, the DFINITY Foundation, will release its 2024 ecosystem report in November. The report highlights significant advancements the platform has made in cross-chain technology, primarily through the Chain Fusion protocol. Over the past year, activity on Chain Fusion has surged an astonishing 1,230%.
The Chain Fusion protocol is a key feature of the Internet Computer blockchain that enables seamless interactions between smart contracts and multiple blockchain networks. This feature has gained favor among developers, with a significant increase of 2,040% in message processing within the protocol compared to the previous year. This surge reflects the growing demand for cross-chain solutions, thus supporting the development of complex multi-chain applications.
2. FLOW
The trading price of Flow (FLOW) is $0.7732, up 3.81% in the past 24 hours. Its market capitalization is $1.2 billion, with a 24-hour trading volume of $68.97 million, soaring by 40.41%. The fully diluted valuation (FDV) matches its market cap, reflecting that FLOW's total circulating supply is 1.55 billion.
Market sentiment for Flow is neutral, although the Fear & Greed Index shows a score of 74 (Greed), indicating strong market interest. Flow's trading price is 7.10% above its 200-day simple moving average (SMA) of $0.725556, highlighting a positive price trend. Over the past 30 days, Flow has experienced 15 green trading days, accounting for 50%, with a price volatility of 18.62%, indicating consistent movement.
Currently, technical indicators show that Flow has enormous growth potential. It is expected to rise by 233.08% by February 2, 2025, reaching $2.54. This optimistic outlook, along with Flow's high liquidity and strong market indicators, suggests that now may be a good time to invest in Flow.
3. SHIB
Shiba Inu occupies an important position in the cryptocurrency market and is often seen as a rival to Dogecoin. Initially launched as a meme coin, it has now evolved into a multifaceted project with initiatives like ShibaSwap, its decentralized exchange, and the Shiba Inu Rescue Association. SHIB is community-driven, and its appeal lies in its community engagement and liquidity potential.
Recently, Shiba Inu made headlines for adopting Chainlink's CCIP, a technology that enables secure cross-chain interoperability. This innovation allows users to purchase virtual land using ETH or SHIB on Ethereum and ShibariumNet, which may enhance its metaverse ambitions. This development aligns with SHIB's efforts to transcend its meme coin status and improve its utility, positively impacting investor sentiment.
In the short term, SHIB has moderately increased by 2.01% in the past 24 hours and 3% in the past week. However, it has fallen by 25.8% compared to last month, indicating some volatility. Its relative strength index (RSI) is currently at 41.02, suggesting a neutral market stance. Despite recent volatility, SHIB's liquidity remains relatively high, with a trading volume to market cap ratio of 0.0568.
In the long term, Shiba Inu's trading price is 9.37% above its 200-day simple moving average, reflecting healthy growth. Over the past year, SHIB has surged 134%, outperforming 73% of the top 100 cryptocurrencies. This positions it as a strong competitor in the meme coin sector with growth potential.
Shiba Inu offers investors a unique opportunity as it combines community engagement, cutting-edge innovation, and robust market performance. Despite still being affected by volatility, its evolving ecosystem and strong community support make it a promising choice for those willing to take some risks.
