How to intentionally practice and train your coin selection ability?
A simple way to train your coin selection ability is to focus on the relative exchange rates of small coins against BTC. You will form a matrix with two coordinates: one coordinate is up, down, and the other coordinate is outperforming, underperforming. This will create four quadrants: outperforming BTC when going up, underperforming BTC when going up, outperforming BTC when going down (less loss), and underperforming BTC when going down (more loss).
There is a type of asset that can outperform BTC when going up and underperform less when going down. This is the best asset choice, but it is unstable.
What you need to practice is long-term monitoring and judgment to discover such statistical relationships, so you can find those with high growth potential, decent quality, and market attention that may outperform BTC. The crypto market is not considered a weak efficient market right now, so technical analysis can still yield excess returns.
As bullish momentum strengthens, Ethereum (ETH) focuses on key resistance.
The price of Ethereum has surged by 48.75% over the past month, currently ranging between $3094.73 and $3566.24. Technical indicators show bullish momentum, with an RSI of 63.11 and a positive MACD of 13.43. The price is approaching the recent resistance level of $3770. Breaking this point could set Ethereum's sights on the next resistance level of $4242. The 10-day and 100-day simple moving averages are above $3600, supporting the upward trend. Ethereum rose 10.20% last week, showing strong potential for further growth. The bullish trend suggests it may continue to rise and could soon reach new highs.
Algorand (ALGO) has grown by 319% in a month.
The price of Algorand has recently surged, fluctuating between $0.20 and $0.35. Over the past month, the ALGO price has increased by 319.27%, with a 63.83% rise just last week. The relative strength index is 59.41, indicating moderate market momentum. The recent resistance level is $0.41, the second resistance level is $0.56, and the recent support level is $0.12. The 10-day simple moving average is $0.47, above the 100-day average of $0.38, indicating an upward trend. The MACD level of 0.0153 also reflects positive momentum. These figures highlight ALGO's tremendous growth potential in the current market environment.
Worldcoin (WLD) is expected to break resistance amid bullish momentum.
Worldcoin (WLD) is trading between $2.15 and $2.82, showing strong momentum with a 38.42% increase over the week and a 76.46% increase over the month. The RSI is 52.25, indicating neutral market sentiment, while the MACD is positive at 0.0394, suggesting upward potential. The recent resistance level is $3.09; breaking this could allow WLD to reach the second resistance level of $3.75, representing a potential upside of over 30% from the current price. The 10-day SMA is $3.41, and the 100-day SMA is $2.96, both above the current price, indicating growth potential. As the altcoin season approaches, WLD may break through resistance.
PEPE: A deflationary memecoin inspired by Pepe the Frog.
PEPE is a deflationary memecoin launched on Ethereum, inspired by the Pepe the Frog meme created by Matt Furie. Its goal is to leverage the popularity of meme coins like Shiba Inu and Dogecoin to seek to become a leading meme cryptocurrency. PEPE offers tax-free policies and acknowledges its identity as a purely useless memecoin. From late April to May 2023, PEPE's market cap skyrocketed to $1.6 billion, creating millionaires among early investors and attracting a strong community. Its roadmap includes listing on major exchanges and 'meme acquisitions.' As meme coins gain attention in the current market cycle, PEPE's potential continues to attract interest from the cryptocurrency community.
Dogwifhat (WIF): A new dog-themed memecoin on Solana.
Dogwifhat (WIF) is a new memecoin on the Solana blockchain, inspired by the viral Dogwifhat meme. It joins the growing list of dog-themed tokens in the cryptocurrency space. Meme coins like WIF focus on building strong online communities and rely on viral internet culture for popularity. WIF aims to attract users through the association of memes and the powerful features of Solana. In the current market cycle, meme coins continue to attract interest due to their community-driven nature. WIF has the potential to appeal to those interested in fast, meme-based projects on the blockchain. Its appeal lies in encouraging fun approaches and active participation within the cryptocurrency community.
