Market Review
Yesterday, Bitcoin rose slightly, briefly breaking through the 66,000 resistance level, and then quickly recovered, ensuring range fluctuations. The short-term downward channel has been formed. There was no obvious negative news yesterday. The impact of the expected reduction in interest rate cuts still exists. Market confidence needs time to recover. A large negative line appeared at the 4-hour level. The market is still not optimistic. It is estimated that there may be further corrections today. Pay attention to the support at the lower edge of the downward channel (63,000-63,500). Bitcoin rebounded more significantly than BTC, but it also failed to get out of the range of fluctuations. There is good news on the fundamentals. The SEC is about to stop investigating ETH's allegations, but the macro environment is not optimistic and expectations are still pessimistic. Pay attention to the support at the lower edge of the range of fluctuations (3350-3400) during the day. The altcoin rebounded partially yesterday, but as the mainstream pulled back, most altcoins followed suit. The current environment still needs to wait for clear signals. The rebound is not a reversal, and we still need to wait for the market to stabilize. It is recommended to wait and see and wait for the opportunity to enter the market.
Today's highlights
BTC 1-hour and 4-hour levels are below healthy levels, and the daily market is below healthy levels. The impact of the macro environment is still unclear, so wait and see. The upper resistance is 65500-65800, and the lower support is 63000-63500. The probability of a further correction today is higher, so wait and see.
ETH 1 hour and 4 small moving averages are still below the healthy value, and the daily level is not very healthy either. There is short-term positive news. Pay attention to the range shock during the day. The upper resistance is 3580-3630, and the lower support is 3350-3400. The probability of a further correction today is higher, so wait and see.
BTC rebounded slightly yesterday, but still has not gotten out of the short-term downward trend. The market confidence is insufficient, the side effects of the expected extension of interest rate cuts are still continuing, and there is no positive fundamentals. The recent speeches of Fed officials need to be paid special attention to. A large negative line appeared in 4 hours, which is not optimistic. Pay attention to the support at the lower edge of the descending channel (63000-63500) during the day. DE Daya is accusing ETH of stopping the investigation. The current trend has recovered well but has not yet gotten out of the range of shocks. Pay attention to the support at the lower edge of the range (3350-3400) during the day. The cottage sector rebounded synchronously with the mainstream. Many cottages have entered the oversold range and started to rebound from oversold. The ETH series rebounded significantly. In the current environment, we dare not easily buy the bottom. The rebound is not a reversal. We still need to wait and see and wait for a clear reversal signal.
RGB++ has started free casting, and the recent on-chain activity has increased. RGB++ is also a very good new protocol, which has a good effect on the construction of BTC ecology. Continue to pay attention to this sector. The market continues to be sluggish. Wait for the sector to review its popularity before taking action.
The rune market is still sluggish. Pay attention to high-quality currencies in the rune market and wait for the second wash to start buying.
Today's intraday market, BTC's lower support is 63000-63500, upper resistance is 65600-66000, ETH is 3350-3560
3 100x Cryptocurrencies That Will Make You Rich in 2024!
1.ROSE
Oasis Network’s ROSE token was the biggest winner of the week, rising by a massive 19% to $0.1246.
This growth is particularly impressive considering overall market conditions. Although ROSE is still 80% below its all-time high of $0.5964 reached two and a half years ago, the recent surge shows its strong potential and resilience.
Rose is a privacy-focused blockchain platform that aims to provide secure and private decentralized applications. Its recent price surge can be attributed to the increased interest in privacy solutions in the blockchain space, as well as strategic partnerships and developments within the Oasis Network.
2. him
Popular decentralized exchange protocol Uniswap also had a strong week. UNI’s price jumped from $8.89 to $11.51, a 13% increase in just one week. UNI has surged 58% in the past month. This recent rally is reminiscent of the surge in March, when UNI’s price climbed to $15.39, showcasing its ability to bounce back and perform well even in a bear market.
This decentralized finance (DeFi) protocol allows users to exchange a variety of cryptocurrencies directly from their wallets. Its user-friendly interface and huge liquidity make it a popular choice for traders. The recent price increase reflects the growing popularity and renewed interest in DeFi solutions, and Uniswap is well positioned to take advantage of this.
3.NOT
Notcoin is also a relatively new entrant into the cryptocurrency space and one of the biggest gainers this week. After peaking in early June, NOT experienced a correction but has now resumed its upward trajectory. This week, NOT’s price has risen by 12% to $0.0212. Since its launch in May 2024, Notcoin has achieved a staggering 96% gain, highlighting its strong performance and future growth potential.
NOT aims to provide innovative solutions to the crypto ecosystem, potentially focusing on unique use cases or technological advancements. Its impressive growth since launch indicates strong market interest and potential for further development and adoption.
If you want to know more about the cryptocurrency circle and get first-hand cutting-edge information, please follow Zhuye. Junyangli publishes market analysis and recommends high-quality potential currencies every day.
#BTC走势分析
