Whether from the hourly or daily lines, the overall market is in a sideways state, and the current band is not very large. The overall market will be in the range of 56000-58500, Ethereum will be in the range of 2300-2450, and Sol will be in the range of 128-136.

After the CPI data came out last night, it was generally in line with market expectations and the performance was also average. From a technical perspective, the focus will be on whether the market can effectively break through the upper pressure of 60,000 in the next few days. If it just goes sideways at the daily level, I personally think it will pull back again.

Four altcoins that show signs of exploding 20-50 times in a major bull market!

1.AXL

Axelar is the best bridging protocol currently. Although it lags behind in adoption, it is comparable to Chainlink with its cross-chain messaging protocol and bridging infrastructure. Protocols such as SquidRouter use Axelar underlying technology natively and bridge assets, usually within 20 seconds, at very low cost.

$AXL has pulled back from recent highs near $2.50 and with over 65% of tokens in circulation, it is on the verge of hitting some major milestones in terms of real-world assets, cross-chain dApps, and liquidity, and is quickly surpassing Chainlink as the top interoperability protocol in crypto.

2.FTM

Fantom was the darling of the 2021 bull run before falling victim to a multichain bridge hack. The hack was a major setback for FTM and caused many smaller projects to abandon their protocols and users to abandon the chain.

Since the hack, FTM has rebounded strongly (no pun intended), Andre Cronje has returned to his position as FTM superhero, and Sonic’s rebranding and technical upgrades will be completed in the coming months. Once completed, Sonic L1 will be comparable to Solana in technical capabilities while maintaining EVM-compatible infrastructure. Coupled with extremely low inflation, zero token unlocks, a large Fantom Foundation fund, and strong developer incentives, Sonic ($S) can return to its former glory.

3.SUN

Solana has proven to be a blue chip altcoin with long term potential. Despite frequent technical issues and reliance on meme coin shenanigans, Solana has sold off into oversold territory. Given its extremely low risk profile, $SOL is a very solid long term investment with 6-7x potential, and even more if the promised Firedancer upgrade is as significant as advertised.

Fragmentation through L2 scaling does present a risk as it begins to remove the top unique selling point of being an all-in-one native layer scalable blockchain.

4.ICP

Internet Computer has grown significantly in value, with its price increasing by 10.16% in the last 24 hours. Currently, ICP trades at $8.58, giving it a market capitalization of $4 billion. Sentiment appears to be positive as investors anticipate further price gains.

ICP has maintained positive momentum over the past month, trending up 18 out of 30 days, with a success rate of 60%. This steady growth pattern has allowed it to maintain strong liquidity relative to the market size. The 14-day relative strength index of 37.35 indicates that the token is in a neutral position, indicating that the token may soon continue to move sideways.

One factor driving recent price gains is the rising rate of consumption of ICP tokens on the Internet Computer Network. On this platform, cycles used to power computation and manage memory are generated by burning ICP tokens.

The surge in the number of tokens burned, from 193,989 to 206,850 in the last 24 hours, has reduced the total supply of ICP tokens. The reduction in supply could lead to a rise in the token price. As more ICP tokens are burned, the circulating supply decreases, which could increase the value of the remaining tokens on the market.

This dynamic, coupled with the overall bullish market sentiment, appears to have fueled ICP’s recent uptrend. However, its RSI suggests that the coin may remain stable in the short term.