Today's market analysis:
BTC: Yesterday's rebound high hit the pressure level of 68395. In the face of the recent rising market, I still maintain the basic judgment of the previous two days: after the price rises to the locked-in area near the previous high, it will not directly release the retail investors inside, but will repeatedly insert needles, grind, and wash the market in the previous high area.
The daily pattern suppression and small-scale bullish structure above coexist, and we should look at the ups and downs rationally. There is no obvious rebound space in the suppression range in the short term. My personal opinion is that the price will rise and fall, mainly cashing in on the highs. Wait for the price to pull back to the main control line area and then pay attention to the short-term low-long opportunities.
There are two obvious divergences on the hourly line, which is not bullish technically. It will either go sideways or rise and then fall. Short-term support: 66188~65142; medium-term support: 63431~62222; medium-short-term suppression range: 68395~69197
ETH: Yesterday, Xiao Miao gave the support of 3418, and the lowest price was 3412, which was exactly on the tip of the needle. For the daily level of ETH, the idea of the previous two days is still maintained. Under the premise of two intensive trading areas, the main thing is to clean up the leeks above, and then choose the opportunity to pull the market, especially pay attention to the top intensive trading area. For the currencies that have risen in the early stage, if there is a correction, treat it as an opportunity first. The short-term support is 3418~3384, the medium-term support is 3313~3255, and the short-term suppression is 3558~3605.
In terms of altcoins: Recently, many altcoins have rebounded by 30% to 50%. Although the increase seems to be significant, in fact, many altcoins are still in the previous low area of the weekly level, indicating that they have further potential for growth. If you find it difficult to hold, you can consider direct sales of some to reduce psychological pressure, and you can also consider raising the stop-loss line.
This week, we can pay close attention to the MEME sector: FLOKI, PEPE, and BONK lead the gains;
New currency: ZRO's trend just fits the three-wave upward trend. The target of 5.5 has been achieved over the weekend. Wait and see for now.
Ethereum's ETF will start trading tomorrow, and Biden has also officially issued a personal statement announcing his withdrawal from the election. I am looking forward to the market trend in the future. Dear friends, are you ready for this big market? Which altcoins can lead the next market rebound?
SUN
After the Ethereum ETF goes online tomorrow, it will be the turn of SOL ETF speculation. Yesterday's SOL Xiao Miao saw "mainly high and low", and during the high process, there were two corresponding callbacks in the pressure range of 176 and 182.5. Since the tone of the daily line has not changed, the prediction of high and low in the near future is still maintained. The short-term support is 171~174.5, the medium-term support range is 149~154, and the pressure range is 184.5~188.8.
HIM
Uniswap aims to facilitate automated decentralized financial token trading, with the main goal of keeping token trading automated and enabling users who hold tokens to trade, thereby improving trading efficiency compared to traditional exchanges.
Recently, Uniswap Labs launched its wallet browser extension for Google Chrome. During this period, more than 793,000 users joined the waiting list. This new tool enables Uniswap wallet users to perform on-chain activities such as token trading on 11 networks.
This development has also increased global interest in the UNI token. The token is up about 1.94% intraday and is trading at $7.91. It is currently trading 49.70% above its 200-day simple moving average (SMA) of $5.28.
The 14-day relative strength index is 34.94, which indicates that UNI is currently in a neutral state and may see an uptrend. According to its market capitalization, it has high liquidity, making it an important token in the cryptocurrency market.
CKB
The CKB ecosystem has performed well recently and has shown strong development momentum. The RGB++ protocol has also been upgraded, further enhancing its functionality and application potential. This upgrade marks an important step for the CKB ecosystem in the field of decentralized finance (DeFi), attracting more attention and investment.
It is particularly worth mentioning that the CKB ecosystem has become the first project in the Bitcoin ecosystem to conduct IBO (Initial Blockchain Offering), which has undoubtedly injected new impetus and vitality into its development. IBO is an innovative financing method that uses blockchain technology to conduct initial issuance to raise funds for projects and also provides investors with new investment opportunities.
With the upgrade of the RGB++ protocol, the potential of the CKB ecosystem has been further released. Investors can expect to start lightly at around $0.012 and wait for the arrival of favorable conditions. In the future, the CKB ecosystem is expected to achieve greater breakthroughs and developments in decentralized applications, financial innovation, and blockchain technology.
ZK: A potential giant in L2
As the highest-funded project among Layer 2 solutions (L2), zk has been favored by Ethereum founder Vitalik Buterin. However, despite the widespread attention, its market value remains low, which means that its potential has not yet been fully realized.
Not only that, zk also hides a major good news that has not yet been released - the 3.0 version of the Elastic Chain architecture. The release of this new architecture will bring revolutionary changes and become an infinitely scalable ZK chain network.
The launch of the Elastic Chain architecture will bring multiple capabilities to zk:
Unlimited scalability: This architecture allows other projects to use the zk framework to issue their own chains, greatly enhancing the zk ecosystem.
Gateway validator role: zk will serve as a gateway validator, responsible for verifying transactions and data in the network. The establishment of this role will further consolidate its core position in the blockchain ecosystem.
Token usage scenarios: In order to use the zk architecture, other project parties may need to pay zk token fees. This not only increases the demand and value of zk tokens, but also provides holders with more ways to earn profits.
With the release of the Elastic Chain architecture, zk will transform from a project with great potential to a core player in the blockchain field. Both investors and developers will benefit from the unlimited possibilities brought by this innovation.
In the future, zk's market performance deserves close attention, and its position in blockchain technology and applications will be further enhanced.
Focus:
zkLink TGE will be held at 8pm tonight. Here are some key points you must know
The market is picking up, zkLink will open tonight, and we have compiled this information for you!
Airdrop Collection
Airdrop query: https://zklink.io/novadrop
Receiving network: zkLink Nova
Token Information
Total supply: 1 billion, initial circulation: about 136 million
OTC Price
The latest transaction price of $ZKL is 0.597
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
