Ethereum has risen from a low of around $2200 to $3672. Although it has accumulated a certain increase, the main upward wave has not officially started. Unlike the continuously rising XRP, Ethereum's current upward pace appears more moderate, typically experiencing a wave of increase followed by a few days of consolidation. The recent sideways adjustment indicates that a new wave of upward momentum is about to arrive.
If the market provides a pullback opportunity in the short term, focus on the $3500 to $3550 range, which may become the starting point for the next push towards $4000. Based on the previous upward momentum, Ethereum may first test this support range before embarking on a new upward trend. As the leader of the altcoin market, Ethereum's potential for a rebound is highly certain, especially against the backdrop of other mainstream altcoins breaking through their early-year highs.
Currently, Ethereum has retraced from a recent high of $3766. It is recommended to accumulate in batches to capture this wave of short to medium-term upward momentum.
Yesterday, some situations occurred in the South Korean market, and I won't go into too many details since those watching the market generally understand. In simple terms, this is just a small episode in the bull market. Currently, there has been a brief downward adjustment in the market. This 'pinning-style' decline is actually beneficial for higher breakthroughs in the future, as it clears some high-leverage risk positions.
South Korea holds a significant share in the global cryptocurrency trading market, and this incident has indeed triggered a decline in the overall market. From the perspective of pinning phenomena, part of it is due to arbitrage and capital flow operations, while another part is a panic response to market sentiment stimulated by news. However, this decline triggered by news does not reflect the inherent demand of the market itself. Therefore, after understanding the ins and outs of the event, it can be clarified that there is no need to overly worry about this adjustment. The overall trend of the bull market remains strong and has not changed direction.
A pinning phenomenon is more conducive to future surges! Position these 3 altcoins before capital flows!
WLD
The AI sector is sweeping through the altcoin market, becoming a strong focal point among current hot topics. As the leading token in the sector, FET started at $1.45 and achieved a 34% increase in just three days, demonstrating extremely strong market momentum. If the price pulls back to around $1.7, it will be an ideal re-entry point.
At the same time, WLD's steady performance around $3 also provides investors with an attractive entry opportunity. As a star project in the AI sector, WLD has just rebounded from the bottom and is expected to experience significant gains similar to those seen at the beginning of the year. Although a large portion of the tokens in this project has yet to be unlocked, it does not affect its short-term speculative potential. The current price range around $3 is a good area for positioning, suitable for attempting short-term opportunities.
DOT
Polkadot (DOT), as an open-source sharded multi-chain protocol, has shown particularly outstanding performance recently. Its price has risen by 30% in the past week, with a current trading price of $10, recording a 15% increase in just one day, making it one of the strongest-performing altcoins recently. With this momentum, DOT is widely regarded in the market as a popular investment target with the potential for tenfold growth by the end of 2024.
Furthermore, DOT's trading volume and open interest have significantly increased, indicating positive market sentiment and continuous improvement in investor participation. Whether for crypto traders or long-term investors, DOT is attracting more attention due to its technological value and market performance, further solidifying its position in the altcoin market.
SOL
Solana has been successfully integrated into the Crypto Life platform, enabling payments at 90 million merchants worldwide. This news was announced by Solana's official account on its X platform, highlighting its fast transaction processing, low operating costs, and increasingly expanding DeFi ecosystem, which have become important driving forces for this integration.
In addition, the collaboration between Solana and Uquid also provides users with the convenience of directly using Solana's native USDT for transactions, allowing them to purchase various goods. This move further reflects the increasing popularity of Solana and the improving infrastructure.
In terms of market performance, Solana shows a clear bullish trend. The current price is $224.15. Although it has slightly dropped by 1.26% in the past 24 hours, it has accumulated a rise of 37.67% over the past 30 days. The token is currently 35.12% above its 200-day simple moving average of $166.07, indicating strong upward momentum. Analysts also point out its high liquidity advantage under market capitalization.
