SOL may experience an incredible price surge, as technical analysis charts indicate its potential could reach 20 times!

The technical analysis of $SOL is quietly signaling a bull market, making one wonder: Can SOL achieve a massive increase of 2000%?

Famous analyst Peter Brandt revealed that a 'cup and handle' pattern has appeared on SOL's weekly chart. This pattern indicates that the price first undergoes a U-shaped rebound, followed by a consolidation phase. Although investors still have concerns about the future market, SOL has been preparing in the $100-$200 price range since March of this year!

Once $SOL breaks through the resistance level at $205, it could soar to a high of $4500, which means over 20 times growth. However, historical data also shows that although the cup and handle pattern is a positive signal, its 61% success rate reminds us to remain cautiously optimistic and not chase prices without justification.

Crypto expert Tuna Kaya also joined the discussion, stating on October 21 that $SOL has already broken through the resistance level of $163, with the target price range now being $190-$200. At the same time, he pointed out that $163-$150, $140, and $126-$120 are key support levels, and investors should closely monitor the dynamics of these price ranges.

$SOL /USDT trading pair just reached a high of $171.76, but has now begun to pull back. If you are unsure what to do next, here are some simple strategies for reference.

What is the current market status?
The RSI indicator has risen to 83.70, indicating that SOL may be overbought and has now started to enter a correction period. The 6-day RSI has also reached 70.96, which similarly shows that the market may be overheated, with a risk of further declines. The OBV indicator's performance is also not very optimistic, which may mean some investors have started to sell to lock in profits.

What should investors holding $SOL do?
The price of SOL has touched $171, but is now pulling back. If the price cannot rise again, selling now to take the profit is a good option. When the price returns to between $166 and $170, consider selling some, especially when feeling the upward momentum is weak.

What should novice investors wanting to buy SOL do?
It is recommended to wait for a better opportunity. If the price pulls back, look for buying opportunities between $150 and $155, or if the price falls further, the $140 position may provide stronger support.

What should be done in the future?
$SOL has previously experienced a strong rise, but is now in a correction. It is advisable to wait until signs of price recovery appear before buying, and to increase positions near key support levels to achieve long-term profits.
Overall, it is important to remain patient and wait for the right timing to act.

The positive macroeconomic situation has significantly increased buying activity in the cryptocurrency market. Solana ($SOL ) experienced a surge last weekend, successfully breaking through the key level of $160. SOL performed strongly last week, rebounding from the 20-day moving average and rising nearly 7%, consecutively breaking through the 150-dollar and 200-day moving averages, ultimately closing at $157. However, by Tuesday, buyer momentum weakened, and $SOL fell nearly 2%, with the price retreating to $154, briefly touching a low of $150. On Wednesday, buyers attempted to reverse the situation, pushing the price up to a high of $158 but failed to maintain this momentum, and SOL ultimately saw a slight decline, closing at $154. On Thursday, bearish sentiment intensified, with SOL dropping 2.42%, falling below the 200-day moving average, closing at $150. However, due to strong support at this position, $SOL rebounded on Friday, rising nearly 3%, regaining the 200-day moving average, and closing at $154. Over the weekend, SOL continued to show bullishness, with a rise of just over 3% on Saturday, closing at $159, just a step away from $160. On Sunday, the bullish sentiment intensified, with SOL breaking through $160, rising nearly 5% to reach $167. In the current trading day, SOL has seen a slight increase, with buyers eager to push the price above $170. Currently, SOL has reached a daily high of $171.

Buyers plan to push the price above $170 in the current trading session and move towards $180, while sellers hope to drive the price below $160.

The spread of meme projects largely relies on social media and community interaction. Especially in the $MEME project, the elements of humor and entertainment allow users to enjoy the process of participation, further promoting their dissemination.

The craze for meme projects is like a storm, sweeping across multiple public chains, from Solana ($SOL ) and Ethereum ($ETH ) chains to Sui chain and Ape chain. This phenomenon not only highlights the importance of community power but also reflects the diversity and vitality of the blockchain ecosystem. With the launch of more and more meme projects, the blockchain industry is expected to become even more promising in the future, waiting for us to explore and experience. Therefore, the next meme projects are likely to create a frenzy on various public chains, similar to the last round of decentralized finance (DeFi), becoming an important narrative theme.

Regarding the recent dynamics of $PEPE , there have indeed been some significant changes and discussions in the market. Firstly, a giant whale transferred a large amount of PEPE coins, specifically 40 trillion PEPE coins, worth approximately 29.8 million USD. This action has attracted widespread attention and discussion in the market. Such behavior is usually seen as a positive signal for PEPE coins, enhancing market confidence, and investors and traders are beginning to anticipate a price increase for PEPE coins.

The performance of the $PEPE coin itself has also been good, which may relate to its unique value proposition, technological innovation, or market positioning, giving it a certain competitive edge and appeal in the market. Additionally, potential news of interest rate cuts from the Federal Reserve has boosted market enthusiasm for high-risk assets (such as meme coins), providing extra momentum for the price increase of PEPE coins.

The overall trend in the current market is positive, with investor confidence in the cryptocurrency market gradually strengthening, which helps drive up the prices of popular coins like PEPE. However, market volatility and potential risks should also be heeded; investors should make cautious decisions and strictly control their entry quantities and set stop-loss orders while respecting the market's momentum.

Although the $PEPE coin is currently performing strongly, there are still many uncertainties in the cryptocurrency market. Investors should closely monitor market dynamics and policy changes and adjust their investment strategies in a timely manner. The conclusion is that the transfer behavior of the super whale has brought significant market attention and confidence to PEPE coins. With the combined effects of its own advantages, external environmental factors, and the overall market trend, the price of PEPE coins is expected to continue rising.

At 8 AM today, $BTC recorded a large bearish candlestick. During the upward trend on the 20th and 21st, BTC attempted twice to reach the $70,000 high but faced resistance around the $69,552 level and pulled back. However, it is reassuring that some established altcoins have also seen slight increases in the range where $BTC rose from $66,000 to $69,500. Nevertheless, many altcoins have hardly changed, maintaining prices at levels before March.

Currently, the minor resistance levels for $BTC are at $67,328 and $68,470, with support at $65,518 and strong support at $63,038. The 4-hour chart for BTC is currently at the lower Bollinger Band, with the RSI value dropping to 38, and the J line also falling to 2.84. At the same time, the daily MACD has formed a death cross. These technical indicators all suggest signs of a pullback for BTC. Please strictly control your positions, set stop-loss orders, and go with the trend, respecting the market.

Ethereum has also followed BTC's trend in recent days, finally able to rise along with big brother BTC, briefly reaching $2,770. This not only instilled confidence in Ethereum holders but also boosted confidence in the market. It is often said that Ethereum is the leader of altcoins; if Ethereum does not rise, altcoins also struggle to rise. The intraday resistance levels for Ethereum are at $2,672 and $2,711, with support at $2,587.

Let me analyze the current trend of Bitcoin ($BTC ) for you. Today, the price of Bitcoin briefly fell to around $66,500 and has currently rebounded to about $67,400. The price of Ethereum ($ETH ) is currently around $2,640. The market fluctuations today have been very intense, making it difficult to operate whether going long or short. I expect this pullback may only last a few days, so everyone just needs to patiently wait for my signal.

Bitcoin dropped $3,000 within a day and found support at the key support level of $66,550, and it seems to be testing the range for fluctuations. I observed the market until 4 AM last night, staying up the whole night.

The current price trend of Ethereum appears to have 'falsely broken' the key support level. I am closely monitoring the market and trading volume to further confirm whether this support level is valid. If this is indeed a false break, it could be a trap for short positions, and the bullish forces might regroup afterwards, pushing the price back up.

In the spot market, purchases can be made within a range of $3-5 below the current price.

Market Analysis Overview:

1. Overall Market Dynamics:
- $BTC is undergoing adjustments, leading to a general decline in most altcoins. The market feels tense whenever ETH prices rise.
- The US stock market shows mixed performance, with Nvidia's stock price hitting a new all-time high.

2. Market Focus:
- In the NFT sector, the price of the ape project has increased, but the sustainability of the $MEME project on the ape chain is not strong.
- In the AI meme sector, projects like goat, fartcoin, slop, gnon, etc., have rebounded strongly, with goat leading the way. This emerging narrative of AI meme is garnering more attention than ordi, mainly because it has received widespread recognition from both the East and the West. In the long run, cryptocurrencies are more suitable as currency for silicon-based life (AI) rather than for carbon-based life (humans).
- The price of the cat project in the meme sector has surged significantly. Smith Cat is a Floki airdrop project on the BSC chain, and recently Binance has launched the contract for this project. Recently, Binance has listed many old meme projects on the BSC chain.
- Regarding the scroll airdrop for the L2 project, the first round of community allocation was only 5.5%, meaning community members basically did not gain much benefit.

Market Analysis on October 22, 2024:
Due to rising U.S. Treasury yields and a strengthening dollar, the support provided by the uncertainties of the U.S. presidential election and the Middle East conflict has been offset. Bitcoin ($BTC ) and Ethereum ($ETH ) experienced significant declines after reaching nearly two-month highs, ultimately closing down for the day. The probability of Trump winning has risen to 64.5%, leading Harris by nearly 30 percentage points. Daly from the Federal Reserve stated that there is currently no reason to stop interest rate cuts, although some officials indicated that the pace of rate cuts may slow down in the coming quarters.

BTC reached a high of $69,500 during yesterday's Asian trading session but quickly began to decline, dropping to a low of $66,500 today, and has since rebounded to around $67,500. Ignoring news influences, BTC's expected fluctuation range today is between $68,800 and $66,000.

$ETH also set a new high since September yesterday, peaking at around $2,770 before starting to decline, dropping to a low of $2,612, and currently, ETH's price is around $2,644. Ignoring news influences, ETH's expected fluctuation range today is between $2,700 and $2,580.

$BTC is just one step away from setting a new high.
Short-term situation: $BTC is only about 10% away from breaking the historical high, and in the volatile cryptocurrency market, such a gap can quickly be filled.
Long-term trend: Although there may be slight pullbacks in the short term, the overall trend remains upward, indicating that the market maintains an optimistic outlook in the long term.
Technical and psychological barrier: $70,000 is not only a technical resistance level but also an important psychological barrier. Historically, $BTC has spent very little time at this price level, and every time Bitcoin attempts to break through this level, it triggers a strong market reaction.
Investor sentiment comparison: In a bull market, some investors may lose patience and exit the market due to significant volatility. However, those who can stick to long-term investments are able to adapt to market fluctuations and often achieve substantial returns over time.

Three cryptocurrencies outperformed Bitcoin this week — according to CoinGape Analytics:

**Solana ($SOL )**: Solana is poised for a price recovery, currently trading at $154 with a market cap of $72.06 billion. A 57% surge in active addresses and Grayscale’s multi-crypto ETF filing suggest that demand for Solana is rising. Solana’s scalability and low transaction costs further enhance its potential.

**Dogecoin ($DOGE )**: Dogecoin has gained 33% over the past two weeks, breaking out of a four-month consolidation period. The number of whale wallets holding between 10 million and 100 million DOGE has increased significantly since August, suggesting that Dogecoin has further upside potential.

**Sui ($SUI )**: Sui’s price surged 412% from August to mid-October, with its total value locked (TVL) exceeding $1 billion. This growth shows the growing confidence of investors in Sui's DeFi protocol, and its price may continue to rise.

Conclusion:
Despite the steady pace of Bitcoin's recovery, Solana, Dogecoin, and Sui showed stronger upside potential this week, mainly due to technical breakthroughs, whale accumulation, and rising TVL.

The market is about to usher in a major trend!

1. **Fear and Greed Index**: The index was slightly adjusted to 72, indicating that the market sentiment is biased towards greed.
2. **Contract Open Interest**: The total network contract open interest increased to 72.27 billion, and the option open interest reached 29.23 billion, showing that the market bulls are dominant.
3. **ETF Inflow**: Yesterday, the ETF had a net inflow of 273 million, which provided support for the rise of Bitcoin ($BTC ).
4. **Market Focus**: Elon Musk once again pushed Dogecoin ($DOGE ), attracting widespread attention from the market.
5. **Liquidation**: The liquidation map shows that the cumulative liquidation amount reached 19.5 billion, with the long side liquidating 1 billion at the $65,000 point, and the short side liquidating nearly 700 million at the $71,500 point.
6. **Geopolitical Factors**: Tensions between Iran and Israel continue, and Putin expressed his willingness to participate in mediation. At the same time, North Korea and India have a tough attitude, similar to the tenacity of Bitcoin.
7. **BTC driving factors**: Asian funds and ETF funds played a key role in the rise of BTC this time.
8. **Price prediction**: If $BTC can successfully break through the $70,000 mark, the next target may be $78,888 to $85,000. But if it cannot stand above $68,500, it may fall back to $58,000.

$DOGE has indeed performed very strongly this week, but we also need to discuss whether it is likely to fall back. Recently, people have been very enthusiastic about buying DOGE, but after such a rapid rise, the market may need a period of adjustment to give investors who bought early a chance to take profits.

Judging from some technical indicators, DOGE seems to have exceeded the normal range and showed signs of "overbought". It has broken through the key resistance level of $0.128, and the next target may be around $0.15.

Data shows that on Thursday, a large amount of funds flowed into $DOGE , with an inflow of 11.7 billion and an amount of $640 million. This shows that although the price has been rising, investors' willingness to buy remains strong.

However, not everyone chooses to hold DOGE for the long term. Some large holders and volatile traders have begun to sell after taking profits, but their shares have been taken over by retail investors. Retail investors' holdings have increased from 8.75 billion to 10.74 billion, showing their enthusiasm for DOGE.

In general, the current situation of DOGE is that some large investors have withdrawn after making profits, but the purchasing power of retail investors is strong and has been supporting the price of $DOGE . If large investors stop buying, DOGE may lose the momentum to rise. However, these observations also show that the confidence of DOGE holders is increasing as we enter the fourth quarter of 2024.

In terms of altcoins, I am looking for some potential coins and ambushing them before they rise sharply. Doubling seems to be a simple thing. At the same time, I am also looking for some potential coins and plan to hold them until the end of the year. The expected return space is more than 10 times. Whether you like spot or contract trading, you can like and leave a message to keep up with my pace.

Dogecoin ($DOGE ) has successfully broken through the symmetrical triangle pattern, which shows that the bulls are very strong and the market is very bullish in the short term. If $DOGE can maintain stability above the triangle, its price may reach $0.17 and may rise further to $0.19.

However, while investors are excited, they also need to be wary of possible price pullbacks. If the price of $DOGE falls back into the triangle pattern, the situation may become less optimistic and it may test the support level near the 20-day moving average. Therefore, investors should keep their strategies flexible: on the one hand, they can expect price targets of $0.17 and $0.19; on the other hand, if the price falls back into the triangle, they should consider taking profits or adopting short-selling strategies to cope with market changes.

Bitcoin ($BTC ) may soon pass the $70,000 mark, but its ecosystem is often criticized for underperforming. Despite this, Bitcoin innovation continues, with new concepts such as runes, fractals, and Cats20. But there are not many projects that are truly valuable, and many of them are falling in price.

The most ironic thing is that Facebook's Libra coin (FB coin), with a total of 2.1 billion coins, opened at $20 and once reached a market value of $5 billion. This seems to be an IQ tax, because in the traditional Internet industry, angel round companies are usually valued between $1 million and $5 million. In the field of cryptocurrency, the valuation of market value seems even more exaggerated, as if "the bolder the person, the more ridiculous the market value."

For ordinary startups, the starting valuation of FB coin is equivalent to 1,000 times. If the ecosystem of $BTC really starts to rise, then people may be more willing to pay for projects that are truly promising and innovative. These projects should have practical application value and be able to promote the development of the Bitcoin ecosystem, rather than relying solely on hype and high valuations to attract investors.

If $XRP loses its legal battle with the U.S. Securities and Exchange Commission (SEC), there could be a range of consequences:

1. **Additional penalties and fines**: The SEC recently appealed a 2023 ruling that XRP sales on digital platforms were not securities. If the SEC successfully overturns this ruling, Ripple could face additional penalties, which could include higher fines or new regulatory restrictions.

2. **Operational restrictions**: An adverse ruling could result in restrictions on Ripple's operations, which could limit XRP's trading and growth prospects, which in turn could affect investor sentiment and market liquidity.

3. **Market reaction**: The market has already reacted to this legal uncertainty. XRP's price fell 11% after the SEC announced its appeal. This uncertainty has also cast doubt on projects such as the proposed XRP exchange-traded fund (ETF), which may face delays or rejections due to the undecided regulatory status of the token.

4. **Impact on the cryptocurrency industry**: The case has become a benchmark case for defining what constitutes a security in the digital asset space. If the ruling is in the SEC’s favor, it could encourage the regulator to take more aggressive enforcement actions against other projects and could cause exchanges to reconsider listing certain tokens, fearing regulatory scrutiny.

5. **Impact on the legal framework**: The case highlights the tension between crypto innovation and regulation. The outcome could impact future legal frameworks, underscoring the need for clear guidelines for the classification of digital assets.

6. **Uncertainty about the future**: The appeals process is expected to last until 2025, leaving the future of XRP, and the future of the broader crypto industry, in a state of uncertainty.

7. **Investment transfer advice**: Given this uncertainty, investors are advised to consider moving funds to other more stable currencies, such as Bitcoin ($BTC ) and Binance Coin ($BNB ).

Why were previous bull markets able to bring about such dramatic price increases, but the current bull market does not seem to have such a significant effect? Here are a few key reasons:

1. **The number of currencies on the market is small**: In the past, there were not many types of cryptocurrencies on the market, and investors had relatively limited choices, either buying this or that.

2. **Low circulation market capitalization**: The circulation market capitalization of early cryptocurrencies was generally not high, which means that smaller funds can drive prices up significantly. For example, raising a currency with a market value of 10 million by ten or a hundred times requires completely different funds and influence than raising a currency with a market value of 100 million by the same multiple.

3. **The track is relatively concentrated**: In the early bull market, there were no such diverse tracks as now. Now, there are various sectors on the market, such as staking, AI, $MEME , inscriptions, runes, etc., and investors’ attention and funds are spread across multiple areas.

4. **The number of market participants is not growing enough**: Although the number of market participants is increasing, the base is still not large enough. Many people still don’t understand what $BTC and blockchain are, which means there is still a lot of potential market growth.

5. **Strategy changes of project parties**: Compared with the past, current project parties seem to be more focused on short-term interests. They study more on how to make quick profits rather than how to build long-term consensus, community participation and promote the currency. The price continues to grow. This short-sighted strategy may limit the market's long-term potential.

Although Bitcoin ($BTC ) has been rising recently, not everyone in the cryptocurrency circle is happy. The main reasons are as follows:

1. **Retail investors do not hold BTC**: Many retail investors did not buy Bitcoin when the price was low. They always felt that Bitcoin was too expensive and dared not buy it. Instead, they prefer to invest in altcoins, hoping to get a tenfold or even a hundredfold return. But the reality is that although Bitcoin is rising, altcoins have hardly fluctuated much, and some have even fallen.

2. **Position preferences of large-capital retail investors**: In the circle, retail investors with larger funds usually allocate most of their positions to mainstream cryptocurrencies such as BTC, $ETH , $BNB , etc. For these long-term bulls, short-term market fluctuations will not attract too much attention from them. They will not be complacent because of a small rise in the market, nor will they rush to find bad news because of a small pullback. Their wealth and cognitive level make them not overly concerned about short-term fluctuations.

3. **It is more difficult to make money**: In the past, making money in the cryptocurrency world may follow the 80/20 rule, that is, 20% of people make money and 80% do not. But now, it is more difficult to make money in the cryptocurrency world, and perhaps less than 10% of people can make a profit. Many times, the problem is not the market itself or the lack of skyrocketing currencies, but the investors' position management, entry points and timing judgment. These factors are the key to determining the success or failure of an investment.

This article is full of practical information. Reading it patiently will help you succeed in your investment!

1. **King of public chains: Ethereum ($ETH )**: Ethereum is a high-performance smart contract platform. The development of its second-layer network (L2) is gradually solving the problem of high GAS fees. Since switching to the proof-of-stake (POS) mechanism, Ethereum's consensus has been further consolidated, and it is expected that its market value will exceed Bitcoin (BTC) in the future.

2. **Leader in the currency circle: Bitcoin ($BTC )**: Bitcoin is the leader in the field of blockchain cryptocurrency. Although its price increase is relatively small, it has high stability and has the function of value storage. It is an ideal investment choice for large funds and long-term holders.

3. **Oracle: Chainlink (LINK)**: In the field of oracles, Chainlink occupies a dominant position, and its importance to blockchain is comparable to the importance of the Internet to computers. Oracle technology can enrich the application scenarios of blockchain and has great potential for future development.

4. **Exchange leader: Binance Coin ($BNB )**: Binance Coin is the platform token of Binance, the world's largest cryptocurrency exchange. Binance is extremely profitable, has funds, resources, connections and innovation capabilities, and its future value potential is unlimited.

5. **MEME coin: Dogecoin (DOGE)**: Dogecoin itself has no intrinsic value and is mainly supported by community consensus. As the irreplaceable MEME coin leader, Dogecoin still has room for speculation and may break through the price of $1.

The cryptocurrencies mentioned are not recommended for immediate purchase, but are recommended to be added to the list of selected ones, closely monitored, and invested at the right price.

If the value of the cryptocurrency you hold has been falling, possible reasons include:

Big investors’ selling strategy: Similar to Vitalik Buterin’s operation on Ethereum, they may quietly sell while increasing the market heat, causing the price of Ethereum to continue to fall.

Big investors’ washing and absorbing funds: Big investors may force you to sell by constantly washing the market, with the purpose of suddenly raising the price when you are not paying attention, just like OG PEOPLE before.

Poor track of currency: If the track of the cryptocurrency you choose is not good enough, once the heat drops, it will be difficult to recover, and you may eventually have to sell at a loss, or even face the risk of being delisted by the exchange.

Multiple factors of market changes: There are other factors driving market changes, which need to be closely watched.

As for when altcoins will soar, usually after the blood-sucking effect of Bitcoin ($BTC ), when BTC breaks through a new high and goes sideways, the concept hype of altcoins will gradually begin, followed by sector rotation. At present, BTC has reached a higher position, and the later outbreak of altcoins seems inevitable. After the results of the US election are announced on December 16, BTC may have a new opportunity to rise again. It is not impossible for altcoins to rise 10 times next year.

As for when it is best to buy the bottom of altcoins, you can wait for $BTC and altcoins to pull back before investing heavily. At present, you can also build a position in the altcoins you are optimistic about. In spot trading, you often need to wait patiently for opportunities, accumulate strength, and move forward steadily. As the old saying goes: "In the cryptocurrency market, don't rush for success, slow is fast."