From a macro perspective, the US unemployment rate and seasonally adjusted non-farm payrolls data for July, which will be released at 8:30 tonight, are crucial. These two data will directly affect the timing of the Fed's interest rate cut.
If the data is positive, and Powell talked about the timing of the rate cut yesterday, then the possibility of a rate cut in September is very high.
Combined with CPI data, the hype around expected rate cuts, and the timing of the U.S. election, a bull run for altcoins could be imminent.
After this round of ETFs were approved, ETH saw a lot of selling pressure, which mainly came from investors who were previously locked up in Grayscale Trust (ETHE). Now that the swap mechanism has been opened, it is inevitable that investors will sell at the first opportunity. As time goes by, Grayscale's selling pressure will gradually decrease, while the purchase volume of ETFs will gradually increase, and the market will gradually enter a state of net inflow.
Although important market participants and insights indicate that the altcoin season is coming, caution is still needed. Bitcoin is becoming increasingly dominant, and historical patterns suggest that predictions of strong altcoin gains should be taken with a grain of salt. In the current complex and volatile market environment, investors should remain vigilant and keep abreast of the latest market developments to effectively navigate the dynamic crypto landscape. At the same time, diversification and risk management are also effective strategies to cope with market fluctuations.
Potential altcoins worth paying attention to now
1. BABY
At present, PEPE is in a critical stage of accumulation. Each consolidation may herald the arrival of a new high, paving the golden road to wealth freedom for investors. President Trump’s "Crypto American Dream" plan has injected strong momentum into PEPE, and policy support and optimized regulatory environment have greatly enhanced market confidence.
If PEPE breaks through the key resistance level of $0.00000130 and is accompanied by a significant increase in trading volume, its price is likely to rise quickly to $0.0000139. In the long run, PEPE may even create a new price legend and become the next legend in the Meme coin world. Investors should pay close attention to the price trend and market dynamics of PEPE and do a good job of risk management so that they can act quickly when the opportunity comes.
2.BONK
Bonk (BONK) is currently trading between $0.0000245 and $0.0000319. Despite the short-term downturn, BONK's price has risen by more than 100% over the past six months, showing strong long-term growth potential. Bears are currently dominating the market, but potential support at $0.0000214 may provide some stability.
If the bulls recover, BONK may challenge the resistance levels of $0.0000359 and $0.0000431, which represents a potential increase of up to 75%. Currently, the RSI indicator is 26.68, indicating an oversold state. If market conditions improve, BONK may rebound. Investors should pay attention to market dynamics and technical indicators, combine fundamental information, and reasonably adjust investment strategies.
3. TREES
Bonk of Meme (BOME) has attracted widespread attention in the cryptocurrency market recently. Its price has surged 20% in the past week, reaching $0.0105, successfully ranking among the top five cryptocurrencies in growth. This achievement even surpasses some well-known meme tokens, which have only gained 3% during the same period. BOME's strong performance is due to solid technical support and growing market interest. In particular, its 50-day exponential moving average (EMA) successfully crossed above the 200-day EMA, showing strong and durable upward momentum.
Market analysis predicts that BOME is expected to rise further by 41% in the short term, with a target price of $0.013. The inverted head and shoulders pattern on the daily chart provides strong technical support for this forecast. In addition, market confidence continues to rise, with data showing that futures open interest increased by 74% in the past week and trading volume soared by 50% to $150 million. As a star project under Dark Farm, BOME is inspired by the well-known meme art image of Pepe the Frog, and has successfully attracted a lot of attention and investor favor.
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