Overnight, BTC continued to rise, briefly surpassing 99k, with a peak approaching 99.5k. 99k feels like a layer of window paper, easily pierced.
Only a step away from 100k. Remember the second half of 2022 when ETH was strong before transitioning to POS, and everyone was dismissing the idea of kicking BTC out of the crypto space? Because during rebounds, BTC was the weakest, even weaker than junk altcoins. It's similar to how some now believe altcoins will never rise again.
Given the current state of Bitcoin, this wave is aiming for $100,000+.
Why is the market calm while Bitcoin keeps rising, but Ethereum's rise causes a stir?
Because most retail investors cannot afford it, even if they buy, they are just opening U contracts to go long and short, buying and selling for a short term.
Only large enterprises, institutions, and Wall Street funds are keen on purchasing Bitcoin.
Some retail investors are stuck with altcoins in secondary exchanges and have given up.
Some savvy retail investors are following hot money to impact memes on the chain.
Occasionally, stories of sudden wealth emerge, attracting more traffic to the chain for this fragmented liquidity.
This is the explosive coin you can get in now!!
1.OP
Optimism (OP) is currently priced at $2.08, having increased by 19.58% in the last 24 hours. This price increase has brought its market capitalization to $2.59 billion, with a trading volume of $857.19 million. The fully diluted valuation (FDV) is $8.85 billion, with a total supply of 4.29 billion OP, which is the maximum supply.
Over the past year, Optimism has risen by 22%, and its current trading price is 30.09% higher than the 200-day simple moving average (SMA) of $1.60. This indicates relatively strong market performance. Currently, the sentiment around Optimism is bullish. The Fear and Greed Index is at 82, indicating extreme greed. Given this, further price increases are expected.
In November 2024, forecasts indicate that the price may rise to $3.39. The price that month could range between $1.70 and $5.85. If these forecasts hold true, investors could see a potential return of 178.23% based on current prices. Entering December 2024, the price of Optimism is expected to be between $5.73 and $8.15. The average monthly price may reach $7.12, implying a potential return rate of 287.51%.
2.SUI
In the past six months, Sui has surged by 237.71%, attracting the attention of investors. Over the past month, its value has increased by 70.48%, and it rose by 12.71% last week. These persistent upward trends suggest that if the current situation continues, the bullish momentum may persist.
SUI is currently trading between $3.09 and $3.90, approaching its recent resistance level of $4.23. Breaking through this level could pave the way for a second resistance level of $4.75. However, if the price fails to hold, it may test support levels at $2.40 or $1.28. The 10-day and 100-day simple moving averages are around $3.72, indicating a stable trend.
Technical indicators show mixed signals. The Relative Strength Index (RSI) is at 39.86, indicating that SUI is not overbought and still has room to rise. The Stochastic Oscillator is at 28.75, which may suggest a possible trend reversal. The MACD level is -0.0173, indicating a mild bearish sentiment.
Considering these factors, SUI may consolidate in the short term, but if it breaks through key resistance levels, it could rise. Traders should pay attention to movements above $4.63, which may signal further increases.
