At 6:30 AM, Bitcoin dropped below $93k, causing many to worry that the bull market might be ending. There’s no need to worry; the trend is still positive, and Bitcoin's ETF is still flowing in. Besides, the interest rate cut cycle is still ongoing, not to mention there's another rate cut coming on the 18th of next month. Right now, for spot trading, it's about choosing quality varieties and holding on to them with just two words: don't worry too much.
As for another type of player focusing on low positions, don't be stubborn as a bear; the profits are limited and the risks are high, so it’s really unnecessary. As for how to filter quality and valuable altcoins, remember to like, follow, save, and share.
Look at trends, for example $doge has Musk promoting it wildly, and the market is speculating, so continuous influx of traffic and funds is coming in, and naturally, Doge rises with the tide. Then look at the project community's team operations, which can proactively create narratives and push things forward, just like recently with Neiro after a certain event, right? Then you need to see if it has strong market makers; having these conditions makes it more promising, after all, any project's hype cannot be separated from traffic and funds.
Continuing today's daily $BTC market analysis, from the candlestick chart, the 1-hour level is entering an upward trend, the 4-hour level is down, the 12-hour level is down, and the daily level is down. The intraday resistance is at $96,600 and the support is at $92,600.
5 altcoins that could help you turn things around!
SEI
Sei is another altcoin with strong potential, with its price fluctuating between $0.51 and $0.69 recently, rising 22.80% over the past week. Over the past month, SEI has performed exceptionally well, with a rise of 68.08%. SEI’s technical shape is very healthy, having broken through multiple significant resistance levels and is currently at the starting point of an upward trend. Especially after breaking $0.6292, SEI's upward target is expected to reach $0.65 or even higher.
In addition, Sei has also shown strong fundamental support. Its market confidence is stable, and breaking through the current resistance could trigger a new round of significant rebounds. If SEI can break through the current technical level, the price may continue to rise. For investors looking to enter the cryptocurrency market, Sei is a potential stock worth watching.
ICP
Internet Computer, a project that has long been in the spotlight, has also shown impressive recent performance. The rise of Bitcoin has boosted overall market sentiment, and ICP has followed closely, rising 11.63% in the past 24 hours, with a weekly increase of 36.48%. ICP has successfully broken through the upper resistance trend line of a descending triangle pattern, showing strong bullish signals. If ICP can break through the key resistance area of $10.20 to $10.90, it is expected to welcome a new wave of upward momentum, with $13 and $14 being the next important target ranges.
The DFINITY Foundation behind ICP recently released its ecosystem report for 2024, further boosting market confidence. The report mentioned that the ICP platform has made particularly notable progress in cross-chain technology, with the activity of the Chain Fusion protocol increasing by 1230% in the past year. This technological advancement provides strong support for ICP's future growth.
DOGE
Dogecoin is currently priced at $0.42, down 3% in the past 24 hours. The continuous fluctuation in Dogecoin's price is due to Bitcoin's price volatility. In the past two days, the king of cryptocurrencies has slightly declined and is stabilizing at $98,000 at the time of writing.
However, due to its close relationship with Tesla CEO Elon Musk, Doge is bound to receive high attention. Now Musk is ready to take over the DOGE department, which suggests an anticipated price surge for Doge, and if the market supports it, this increase could last a long time.
PEPE
PEPE has risen 93.5% in the past 14 days and has formed a symmetrical triangle, indicating a potential continuation or reversal. Consolidation above the Point of Control (PoC) suggests strong buyer interest. As it approaches the peak of the triangle, expectations for a breakout are increasing, and a closing price above this point could lead to a 30% price increase.
Traders should look for confirmed breakouts and a retest of the upper boundary of the triangle to support the bullish outlook. The token value of PEPE has also shown a golden cross, with the 50-day moving average surpassing the 200-day moving average, which is a strong bullish signal. The rising trading volume indicates strong momentum and buyer interest.
TON
Cryptocurrency enthusiasts are paying attention to Toncoin because it seems ready for a possible rebound. Although Toncoin's price is still relatively cheap compared to the best-performing currencies in the market, recent market and technical trends suggest that this currency may be more valuable than initially thought. As of writing, Toncoin's price hovers around $6.13, showing a continuous recovery from recent lows.
This makes more upward momentum possible. While explosive returns on quality assets are unlikely, Toncoin still has the potential to generate considerable returns. If market sentiment continues to improve, breaking through $6.50 could pave the way for testing the $7.00 resistance level and potentially further increases.
