Bitcoin has been very strong recently, currently reaching a high of $69,000, and continues to hit new highs, showing good market momentum. Ethereum also performed well yesterday, touching the downward trend line and rising to a high of $2,675. Next, focus on whether this high point can be effectively broken through and stabilized. If it successfully breaks through the downward trend line and further breaks through the key 2,800-point ice line, then the altcoin is expected to usher in a wave of definite trend.
At present, the market is still in the wait-and-see stage. Before the breakthrough, it is still in the left-side position building range, and the market trend may rise or fall. Therefore, before the 2800 point position breaks through and stabilizes, operations need to be cautious. Once it stabilizes at 2800 points, it may be a good time to enter the market boldly.
In addition, the Ethereum Developer Conference will be held in Thailand next month, which will be a prelude to attract more technical developers to return to this most trusted POS public chain. Combined with the current market conditions, it is expected to bring about a wave of opportunities for catch-up gains.
This weekend, everyone can have a good rest, after all, there are less than two weeks left in this month. Judging from the current election situation, Trump is in the lead again, which is a positive signal for the cryptocurrency circle. However, from an overall perspective, no matter who is elected, the long-term impact on the cryptocurrency circle will not be too great. After all, Bitcoin and Ethereum have become legal ETF products, which will not be a big obstacle to the future bull market.
If Trump is elected, it may bring more violent market fluctuations, while if Harris is elected, the market may grow in a more stable way. As an investor, if you want to get the maximum return, you must hold on to your chips firmly.
Altcoins may have some performance opportunities over the weekend. If the coins you hold have not risen yet, they may be in the process of rotation. Just be patient and continue to hold them.
The recent election heat seems to be getting closer and closer to the trend of US stocks and Bitcoin. This is exactly what I mentioned before. The importance of the election represents the market expectations for the next period of time. From the chart, the white line represents the possibility of Trump winning the election, and the blue line is the price of Bitcoin. During June and July, the trends of these two lines were almost synchronized, showing a high correlation between the two.
Potential altcoins worth watching
1. BABY
Pepe's current price is $0.00001040, with a 24-hour trading volume of $886.74 million and a market capitalization of $4.38 billion, up 1.88% in the past 24 hours. PEPE's market share is 0.19%.
Pepe’s price has surged 1,555% in the past year. Its 14-day relative strength index (RSI) is currently at 42.74, indicating that the market is neutral and may continue to move sideways in the short term. Pepe’s price is well above its 200-day simple moving average (SMA) by 844.46%, indicating a strong long-term uptrend.
Investor sentiment is also relatively optimistic, with 86% of users on CoinMarketCap optimistic about Pepe. The Fear and Greed Index is 73, indicating that market sentiment is biased towards greed and investor confidence is increasing. In the past 30 days, Pepe has shown positive growth on 17 days, accounting for 57%.
Pepe has maintained steady growth in recent months, rising 41.95% in the last month alone. According to Coincodex's forecast, the price of PEPE in October may be between $0.00001035 and $0.00003520, with an average monthly price of $0.00002093. If the current trend continues, PEPE may rise to $0.00003398 in the next month, an increase of 228.38% from the current price.
2. SHIB
Lucie, the leader of the SHIB team, recently made a bold prediction that the Shiba Inu Coin ecosystem is expected to experience a thousand-fold explosion in the next two or three days, showing huge growth potential.
In the face of short-term market fluctuations, Lucy spoke out on Twitter on Wednesday to express her firm support to Shiba Inu Coin holders.
She pointed out that the current price correction is only a temporary adjustment and called on everyone to remain calm. She emphasized that SHIB's ecosystem is becoming more mature and has strong rebound capabilities, and reviewed SHIB's brilliant performance in the past bull market.
As a highly-watched meme coin, SHIB is expected to explode when the altcoin market is active. Higher token burn rates, integration of staking protocols, and increased on-chain activity have all instilled confidence in SHIB's future performance. Let's wait and see if SHIB can take off again!
3.SUN
Solana is known for its high-speed blockchain technology and has experienced significant price fluctuations recently. SOL is currently trading between $155 and $159.81, showing signs that a turn may be imminent. The coin has gained 10% in the past month and a break above the $173.11 resistance could signal a strong rebound with a target of $199.72.
However, investors need to remain cautious as there is also a chance that the price could fall back to the $93.28 level. As the market enters a critical juncture, Solana’s performance could determine its success or failure in the short term.
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