The market is weakening. Yesterday, Gouzhuang made a joke to us on April Fool's Day. It dropped slightly. Today, I stopped joking and took it seriously. It directly hit near 64588. The copycat is also very weak. The monthly level is seven consecutive positives, and everything is at a high level. You should pay attention to risks this month. But considering that the current bull market is in its early stages, even if there is a long-term correction, it can only reduce positions by 5 levels at most, but cannot clear positions. The weekly level is fluctuating at a high level, and the naked K and MACD are diverging. The daily level is putting pressure on 71700, which is currently very weak. It is possible that 63000 will be tested again. The 4-hour level support is at the EMA200 daily moving average, near 65000, and there will be a rebound here. The halving is getting closer and closer. If you want to get rich in the long run, you must have enough patience to hold it. If you can't hold it, I suggest you double your capital!
I think the market trend is mainly driven by capital flows. In the absence of new capital flows, it is a game of existing funds, which is greatly disturbed by market sentiment. Now, while ETF inflows are slowing down, economic data and other factors have made the market pessimistic about interest rate cut expectations, leading to a correction. This callback belongs to the second time (the first time was 74,000). After that callback, the replenishment was very rapid, and Niu's initial sentiment was still improving. In the future, each callback will be longer and longer, such as This time, this time counts as the second time) In the short term in the future, the market will always be guided by changes in market sentiment caused by economic data. This period is about 1-2 weeks, maybe very soon.
But I personally think that I am not that pessimistic and will not postpone the interest rate cut any longer. Generally speaking, the April halving is getting closer and closer. The closer it is to the halving, the greater the probability of an increase. If there is another major adjustment, it is estimated that it will be at the bottom between May and June. Of course, the specific date will have to wait and see.
Many people were washed out of the market in the March correction. The recent correction has made more people unable to hold back and more people have started to sell at a loss. The reason is that many people are afraid that this time there will be a big drop, and they are worried that it will fall more than in March, and they are afraid of a big drop before the halving. I really don’t think there is anything to worry about. Many people are panicking because of the correction in the past two days and the short-term fluctuations. But if you calm down and take a good look at the market, the decline has shrunk in the past few days, and it has not fallen below the lowest point on March 20. What is there to worry about?
Many people are afraid because they don't know how to analyze the market and watch it for 15 minutes, 1 hour, or 4 hours. When they see a drop, they get scared. However, it is necessary to look at the overall situation and the cycle. The current decline is just a shock callback after the decline stopped. In fact, many currencies stopped falling in mid-March and are now in a stage of shock and accumulation.
Let’s take ARB’s 4-hour market as an example. After experiencing a long and clear decline in 4 hours, although the nearly three K-lines are falling in heavy volume, the extent of breaking new lows is getting smaller and smaller. At the same time, the lower shadow line is getting longer and longer, and it has reached an important support level. Obviously, ARB's current decline is just a short-selling move.
From a 4-hour perspective, ARB has a high probability of stopping its decline, so after it stops falling in 4 hours, it will trigger a daily-level trend. Therefore, if you don’t know how to read the market, if you always see a drop and just wait for a big drop and panic, you will only miss the best opportunity. If you wait for the rise to catch up, you will be trapped again accidentally, and your funds will only continue to shrink. , watching the price getting higher and higher.
Today is only April 2, and the second quarter of 2024 has just begun. I believe April will surprise those who are prepared, and at the same time catch those who are not prepared by surprise.
Recommend a few spot labels:
1: ROSE current quotation: The spot price is in the range of 0.124 - 0.114. This position is almost the volume range of consolidation and shock before the last wave of rise. The spot price can ambush a wave with an expected increase of more than 25%!
2: FIL current quotation: 8.79-8.3 range to open a position and enter the market. The lower position can be placed in the 7.95-7.6 range fil. This wave of retracement is also a good Buy opportunity, and Grayscale Fund has been increasing its holdings, increasing its holdings in March. I have obtained 53W fils, of which 41.7W cost is around 9.3u. The increase in holdings is very rapid. The spot can be ambush and wait for a wave of tailwinds, which is expected to increase by more than 30%!
3: ID current quotation: 0.879u. Spot positions at this position can also be opened in batches. It is almost the same position range that accelerated the rise in the previous wave. It is also near the cost of many people. If this position is defended, the profit in the upper space will be quite considerable. Open a position in the range of 0.917-0.85 and cover the position in the range of 0.68-0.75. The expected increase is more than 50%!
4: AEVO currently has 2.92u new projects in the derivatives sector, and the investment institutions behind them are very strong. After being listed on Binance, some institutions continued to attract chips from 2-2.5u, and it reached 3.9 a few days ago. In the past few days, it has fallen back to 2.8 with Bitcoin. , it can be clearly seen that the dealers are unwilling to let the currency price fall back to their cost range. Today, the currency price has stabilized. Recommended to get on board.
If you have more profitable alpha chips in your hand, you can reduce the retained profit; if you have U in your hand, don't worry, you will enter, and it will not be too late to enter after the decline is enough and the upward trend is established; if it is valuable, There is no need to get out first if the currency is stuck, after all, the price dropped too fast today. Two words: wait, make up!
CORE
Core’s native token CORE has surged and recently hit a new 52-week high of $3.68. The token gained $36.3 in a single day. The surge came after a recovery period that began in the fourth week of March, when the price rebounded from the $0.534 support level. In just two weeks, the token has gained 547% and is trading around $3.5.
Currently, CORE is trading at $3.44, up 24.32% intraday. The surge brought its market capitalization to $3.08 billion, placing CORE among the top 50 cryptocurrencies. The price increase is largely attributed to Core Strategy’s launch of coreBTC.
The initiative integrates Bitcoin’s powerful security features into the field of decentralized finance (DeFi), promising to provide a safer trading environment. Furthermore, market analysts say that if the current momentum continues, the rise in CORE price may reach even higher levels. Additionally, longer time frame analysis shows that the altcoin formed a bullish reversal pattern known as a round bottom. The pattern suggests that the coin’s previous downtrend may be coming to an end. It could signal the beginning of an uptrend. Today, CORE broke above the $3.5 resistance with a high-volume candle, sending a clear signal to buyers to continue rising.
XVG
As most countries impose increasing regulations on cryptocurrencies, assets in the cryptocurrency privacy space are among the most troubled in the entire cryptocurrency market. Monero has recently faced the risk of delisting from Binance due to European laws requiring full transparency in the cryptocurrency space.
Despite this, cryptocurrencies like Verge have maintained their bullish performance, with prices up more than 45% in the past seven days. The coin is up more than 17% today despite the overall price drop across the cryptocurrency market. A surge in trading volume has also accompanied its rise. XVG's trading volume has increased by more than 1,000% today, accounting for more than 150% of its market cap.
XVG market data suggests that it’s best to add this asset to your investment watchlist as it has the potential to be one of the next cryptocurrencies to explode. XVG is currently trading at $0.009, trading near the $0.01 – $0.01 resistance. Breaking through these levels would put XVG on the path to mid-range.
XVG’s technical analysis suggests that the coin has enough room to run and gain more upside. Verge’s RSI value shows neutral price levels with its value well below the 70 mark. XVG EMA200 is valued at 0.004098, which is much lower than the current price. Therefore, investors can expect further bullish trends in the coming days.
POKT
Pocket Network (POKT) is breaking above the key resistance level at $0.25 and is seeing a huge surge in trading volume. Fueled by the DePIN narrative, investors are now turning their sights to the $0.50 mark in anticipation of another sharp rally. Additionally, Pocket Network is trading 309.67% above its 200-day simple moving average (SMA) at $0.051874.
The latest update shows Pocket Network price at $0.212953, up 5.29% from the past week. Additionally, POJT’s intraday trading volume surged 321.98% to $6,309,798, indicating heightened market activity. POKT is up 387% year to date, outperforming Bitcoin and Ethereum. The surge in price and volume highlights the growth momentum behind Pocket Network.
Additionally, the price increase was driven by the DePIN narrative and rising investor interest. As the project continues its upward trajectory, attention turns to its potential to reach new milestones. Therefore, investors will be keeping a close eye on its progress as it heads towards the $0.50 mark.
The most valuable 100-fold token in the bull market!
ETHFI：
ETHFI, or nicknamed "Sun Gecoin" by many people, may sound a bit mysterious. However, the function of ETHFI is very clear: it mainly provides three services, including staking Ethereum, providing liquidity pools, and node services. The operation of these services is inseparable from the support of ETHFI tokens. Currently, ETHFI’s performance is remarkable, and its total value locked (TVL) has surpassed projects such as Puffer and KelpDAO, becoming the leader in the field.
So don’t underestimate the value of a reward just because it’s big. Each project has its own unique characteristics and potential, and it is important to fully understand its workings and goals. Given its current performance, the ETHFI project still deserves close attention.
SUI
The Global SUI Ecological Conference will be held on April 10, focusing on a token that has attracted much attention. There are two reasons why the token continues to be optimistic: first, the market value is undervalued; second, the technical pattern shows strong signs of rising. Investors are generally optimistic about its long-term goals and see 20U in the long term.
SSV
For investors holding spot positions, you can act now. SSV's highest point reached $66 and its current price is $48. Its TVL (Total Value Locked) has grown rapidly recently, indicating its huge potential for future development. As a key guardian of the Ethereum network, SSV's goal is set at $500!
ARKM
The current high reached $4 and the current price is $2.5. OpenAI founder Altman also participated in the investment. Last night, the project landed on the CB platform. In addition, the CEO will attend the Paris Blockchain Conference on April 11. The field of artificial intelligence has been relatively quiet in the past period, but it is expected to explode soon. Artificial intelligence is considered to be one of the important narratives of this bull market, and we are optimistic about it in the long term!
Mainstream currency analysis:
BNB: BNB is currently linked to the falling market, and the market trend is mainly linked to the broader market.
SOL: SOL's short-term correction market should be dominated by shocks and downward movements in the near future.
DOGE: The dogs are running amok again, and this wave of corrections will continue.
DOT: The correction continues. Polkadot feels like it will go back to $4 during this correction.
BSV: SV’s correction will continue, and the next position will be $60.
AR: This wave of AR’s correction will continue to drop, and the next level will fall below $29. It’s not surprising that this wave will reach $10.
OP: OP is currently continuing to pull back, and the price will continue to fall in the future.
LTC: From a four-hour perspective, a new upward trend has emerged. The middle rail of the Bollinger Track has a certain pressure. However, the Bollinger Track has just closed, is in a volatile market, and has increased in volume, so the pressure on the middle rail will be Much smaller. The entire four hours is an upward trend, the high and low points are gradually moving upward, and the price has not broken the previous low. Today, all currencies are correcting, and it has not corrected, indicating that it is very strong, so the next market will most likely be Continue to rise.
Summary: The market is still in the correction stage. Although there has been a large rebound recently, the general trend has not changed after all. The subsequent market trend will most likely be a volatile downward trend.
