Bitcoin fluctuated around the $60,000 level for a long time last night, and continued to fluctuate and fall after midnight today (11).
The lowest point was $58,900 at 2:00 p.m., the lowest since September 17.
However, Bitcoin rebounded quickly afterwards, and was reported at $60,759 at the time of writing, with the decline narrowed to 0.24% in the past 24 hours. Does this mean that the main force has obtained liquidity?
Although it looks dangerous, if you look closely, the bears are not as strong as in the previous three times.
On the contrary, the three rises by the bulls all broke the previous high point, which is enough to show that after the market plummeted on August 5, the bulls began to gradually recover.
Currently, Bitcoin is undoubtedly still fluctuating here. Although the price has not broken the previous high, the low point has fallen below 50,000 US dollars, but it quickly recovered.
On the whole, although the trend of Bitcoin gives him a very dangerous feeling, considering the overall trend, BTC is still in a bull market.
It’s just that this year’s Ox’s path is very bumpy; it looks back every three steps, making it difficult for people to build confidence.
This year's copycat market is the most difficult one to play. Basically, it is a wave of market that has reached its peak. If you are a little greedy, the early profits will be largely lost.
Therefore, if the copycats want to get results this year, they need courage when buying and skills when selling.
With the entry of capital, the investment mentality requirements for each person are getting higher and higher. Sometimes the technical analysis shows that it is okay to go, but the market sentiment is very hot. This inner struggle can easily make people lose their direction.
Most people have only experienced one bull market, and the experience they have summarized is limited to the 2021 wave, and they do not understand the previous bull market.
Those who came into contact with the cryptocurrency circle in 2017 and those who have been in the circle since 2015, who frequently communicate and analyze, can definitely look at the market more objectively than those who have only experienced one bull market.
Then let’s talk about which altcoins we should pay attention to now.
1.ABOUT
The value of the SUI token surged 128% recently as Grayscale launched two new investment trusts: Grayscale Sui Trust and Grayscale Bittensor Trust. These trusts are for accredited investors seeking broader cryptocurrency exposure, with the Grayscale Sui Trust focusing solely on the SUI token.
Sui's innovative features, including low-latency transactions, minimal fees, and high transaction throughput through horizontal scaling, set it apart from other blockchains. Its ability to support parallel execution solves several inefficiencies in traditional systems. These innovative features have led to its growing adoption despite fierce market competition.
As of the time of writing, SUI is trading at $1.86 and is up 320% year to date. The token has had an impressive short-term performance, with 24 days of gains in the past month. With strong investor support and a promising solution, Sui is a project that has both short-term and long-term potential and is a must-watch for investors.
2.TON
Toncoin is the native token of the TON blockchain, powering activities within the ecosystem. The project emphasizes fast payment settlements, user-friendly decentralized applications (dApps), and low transaction fees. It secures its network through a Proof of Stake (PoS) consensus mechanism, ensuring the reliability of the ecosystem.
Recently, the price of Toncoin has increased by 1.90% in 24 hours, thanks to Binance’s announcement that it will be listed on the exchange. This news, along with the fact that the tokens can be withdrawn after 24 hours, has driven the price up.
Toncoin also exhibits strong liquidity, which is reflected in its market capitalization, indicating strong and generally stable trading volume. Currently, the coin is trading close to its cycle highs with a relative strength index (RSI) of 49.6, indicating that sideways trading is likely in the short term.
At the time of writing, Toncoin is priced at $5.18, reflecting an impressive year-to-date growth of over 150% and a surge of 1250% since its launch. The coin has demonstrated long-term potential through a steady growth of its 200-day simple moving average, which suggests that it has the potential for sustained growth.
3.SUN
Solana is a blockchain platform that uses a proof-of-stake (PoS) mechanism to provide smart contract functionality. SOL is currently the fifth largest cryptocurrency by market cap, valued at $65.8 billion. The price of SOL has risen 1.04% to $141.23 over the past day.
The price of SOL reached a high of $144.04 the previous day and subsequently stabilized at a low of $138. Buyer intervention prevented the market from falling further and the $138 level is now developing into a critical support area. However, a stronger support is found at $135, which could be tested if the bearish trend persists.
SOL needs to break the $144.04 resistance to gain positive momentum. However, more resistance is expected in the $146-148 area.
