Thought analysis and operation suggestions for Tuesday morning, May 21:
ETH daily line has a huge positive line directly reaching the 3660 pressure level. How many years have we not seen a 20% positive line on ETH? The short orders arranged on the front line last night were swept away, which gave me a strong premonition. I looked at the market in detail and decisively gave a hint to chase the long position. The party did not delay the real-time order. "I am in Cao's camp, but my heart is in Han". I made a profit after deducting the loss!
The bull market is coming back quickly! The trend structure cannot be countered. The market has already risen before the news, which shows the strength of the rush. The hourly line has already peaked and fallen back. After a wave of big positive rises, it will be appropriately adjusted to accumulate strength. The idea in the morning is to go short first and then long!
Tuesday morning trading suggestions:
Bitcoin is short around 71200-71600, looking down to around 70500
Ethereum is short around 3700-3680, looking down to around 3630
Which cryptocurrencies should I buy next?
ABT
Arcblock’s native token ABT is experiencing a sharp rise as bullish pressure increases. Arcblock is a platform that simplifies the creation of decentralized applications (DApps). The altcoin is priced at $4.22 and has risen by 5.67% in the past 24 hours. In the past month, ABT’s price has increased by 87.80%, according to CoinMarketCap.
These indicator values suggest that market participants prefer to accumulate ABT rather than distribute it. If the bullish momentum continues, the price of ABT may rise above $4.50 and reach $4.60. If this trend continues, the price may test the overhead resistance of $5.50 by the end of the month.
LDO
Lido DAO provides staking infrastructure for various blockchain services, with a primary focus on Ethereum. Users can stake their Ethereum through this platform and receive stETH in return. The protocol runs on Ethereum, using smart contracts that handle user deposits. Lido DAO's native token, LDO, acts as a governance token, allowing holders to participate in governance proposals and vote on important decisions.
Lido DAO provides liquidity staking for blockchains such as Ethereum and Polygon, providing daily rewards without a lock-up period. Users can stake any amount of ETH and receive stETH, which can be used on Ethereum and L2 blockchains. Ethereum currently has an annual interest rate (APR) of 2.9% and Polygon has an annual interest rate of 4.2%.
The LDO token is trading around $1.76, up 1.02% intraday. The LDO price is below the 50-day and 200-day exponential moving averages (EMAs), indicating a negative crossover in the past. If the price rises above these moving averages, a strong uptrend is expected.
This year could be good for cryptocurrencies if Lido DAO (LDO) proves to be a good investment in 2024. A positive shift in market momentum and investor sentiment could push Lido DAO (LDO) to $5. Moreover, with future upgrades and developments in the Lido DAO ecosystem, LDO could surpass the current all-time high (ATH) of $11.00 and set new ATHs.
DONE
Fetch.ai (FET) is an outstanding token that has surged 800% in value so far this year, an impressive performance that matches the growing excitement and potential of AI-driven crypto projects, which are expected to revolutionize the industry landscape. Recently, Fetch.ai surpassed $1.8 billion in market capitalization, marking a major milestone for the industry.
Industry experts such as Captain Faibik are optimistic about the future of Fetch.ai. Despite the recent drop in trading volumes, forecasts indicate a significant uptrend in May. The increase in buying pressure could push the price above $2.8 in the coming days and towards the $3 mark. Currently trading at $2.179, holding above the critical $2.0 support level, Fetch.ai is poised for further growth. For investors who want to become the next crypto millionaire, Fetch.ai (FET) could be a game-changer.
