Some important news:
1. According to Santiment analysis, the sentiment in the crypto market has rapidly shifted from bullish to bearish over the past two weeks, especially after the market capitalization adjustment (particularly for altcoins). Investor interest in meme coins has noticeably declined, while attention on Bitcoin has risen again.
2. Matrixport states that the rebound strength of Ethereum and other altcoins is limited, making it difficult to form a sustained increase, while Bitcoin still firmly holds the market dominance.
3. Ki Young Ju, founder and CEO of CryptoQuant, released data stating: 'The combined holdings of ETFs, various governments, and MicroStrategy now account for 31% of the known Bitcoin holdings.'
4. The Ethereum spot ETF had a net inflow of $62.73 million last week. In the past 7 days, a suspected address belonging to Sun Yuchen redeemed 39,999 ETH ($143 million) from Lido Finance and Etherfi, and then deposited it all into HTX.
The current situation for Bitcoin is that although it hasn't dropped sharply, it hasn't stabilized completely and is still slowly sliding down. The good news is that people are not as panicked now, and fewer are selling. However, caution is still advised; if Bitcoin suddenly drops sharply, those altcoins may also be in trouble. Of course, this is just my personal view; when it comes to investing, you need to make your own decisions.
I estimate that Bitcoin may fluctuate between $94,000 and $98,000. It seems that everyone is not so scared now, and if Bitcoin really drops below $90,000, it might be a good time to build positions. Generally, a sharp drop during a bull market lasts about 7 to 11 days, and it seems that the time is about right now. Today's BTC, from the K-line perspective, is about to decline on the 1-hour level, weak on the 4-hour level, declining on the 12-hour level, and also declining on the daily level, with a pressure point of $96,500 and a support point of $91,000.
Three major 100x potential coins for 2025 layout!
1. Ethereum (ETH)
Ethereum (ETH) has recently experienced significant price volatility. Over the past week, its value has dropped by 15.25%, a significant decline. Over the past month, the price has decreased by 2.48%, and over the past six months, it has fallen by 2.16%. Currently, Ethereum's trading price is between $3,648.43 and $4,137.17, reflecting market volatility.
Technical indicators suggest potential future trends for Ethereum. The Relative Strength Index (RSI) is at 38.07, close to oversold levels, suggesting a possible rebound. The stochastic indicator is at 21.50, also indicating an oversold condition. However, the Moving Average Convergence Divergence (MACD) level is at -21.52, showing bearish momentum. Prices are hovering near the 10-day and 100-day simple moving averages, at $3,331.27 and $3,461.32, respectively.
Ethereum's immediate resistance level is at $4,318. If the price breaks through this point, it may aim for the second resistance level at $4,807, an increase of about 11%. On the downside, the recent support level is at $3,340.38. Falling below this support level could lead to a second support level at $2,851.64, a decrease of about 15%. Given the current indicators and support levels, Ethereum may be on the verge of a reversal or further decline, which is a critical moment for this asset.
2. Ripple (XRP)
In the past six months, XRP's price has surged by 366.94%. This significant increase reflects strong interest and trading activity in cryptocurrencies. Over the past month, XRP's price has risen by 77.14%, showing a strong upward trend. However, it has dropped by 7.81% over the past week, indicating some short-term volatility.
Currently, XRP's trading price is between $2.03 and $2.73. The most recent resistance level is at $3.02; if this point is broken, it may test the second resistance level at $3.73. On the other hand, the recent support level is at $1.61, with a secondary support level at $0.9041. These levels are key indicators of where the price may move in either direction.
Technical indicators present a mixed situation. The 10-day and 100-day simple moving averages are close, at $2.24 and $2.28, respectively, indicating that the market is consolidating. The Relative Strength Index (RSI) is at 42.72, indicating that XRP is neither overbought nor oversold. The MACD level is slightly negative at -0.0059, which may indicate a mild bearish sentiment. Monitoring these indicators can provide insights into XRP's potential price trends.
3. Solana (SOL)
SOL has recently experienced significant price volatility. Over the past week, its price has dropped by 18.80%, and over the past month, it has decreased by 30.50%. Despite the price drop, Solana has still grown by 34.97% over the past six months. The current trading range is between $205.85 and $239.87, with considerable volatility.
Technical indicators suggest that the bearish trend may continue. The RSI is at 38.29, close to oversold levels. The MACD is negative at -1.376, with the stochastic oscillator dropping to 26.34. This data suggests a possible further decline, but if buyers intervene, it could also signal an imminent reversal.
Solana's recent support level is at $188; falling below this support could lead to a drop to the next support level at $154. On the upside, resistance levels are at $256 and $290. To reach the first resistance level, Solana needs to rise about 8%. Dropping to the recent support level means a decrease of about 10%. The 10-day SMA is at $182.89, and the 100-day SMA is at $193.52, indicating that recent prices are above average.