Start paying attention to opportunities in Ethereum and the Ethereum ecosystem. The market has been changing. Previously, Solana's ecosystem was strong, but now Ethereum is clearly in the lead. In this case, when there is a pullback, you can focus on projects related to the Ethereum ecosystem.
Recommended projects include:
Leaders in the Ethereum ecosystem: ENS, LDO, OP
Next to consider: METIS, ZK, STRK, ARB
Other projects worth noting include: ENA, AEVO, ETHFI
Today, the focus can be considered on LDO and SSV, as well as the layout opportunities of ETHFI.
Invest in 3 altcoins that have increased by more than 10 times!
1.TAO
Bittensor (TAO) has seen significant gains, increasing over 9% to $626. The project's current market capitalization is $4.6 billion. This price movement emerged after breaking out of a downward channel pattern around $538, indicating that the downtrend may be reversing.
Technical indicators support this upward trajectory. The Relative Strength Index (RSI) is at 56.85, indicating that bullish momentum is strengthening while avoiding the overbought zone, suggesting that prices are not excessively inflated. Additionally, the cryptocurrency's trading price is significantly above its 200-day Simple Moving Average (SMA) of $122.07, specifically 413.01% higher. Trading above this long-term average typically indicates strong market sentiment.
The Fear and Greed Index is currently at 78, reflecting extreme greed among investors, which is usually a sign of high market confidence. TAO has also shown stable performance, with 15 days of upward trends in the past month, indicating steady demand.
Market sentiment remains bullish, predicting a price increase of 229.56%, potentially reaching $1,957.66. These predictions are optimistic but depend on sustained market conditions and investor interest. Cryptocurrencies possess high liquidity relative to their market capitalization.
2.PNUT
Peanut Squirrel ($PNUT) has caused a stir in the meme coin market, surging by 2429.76% this month to $1.34. This impressive rally is attributed to listings on top exchanges and a viral tweet from Elon Musk. According to CoinMarketCap, the token's 24-hour trading volume has also seen a significant increase, rising by 4.89% to $1.29 billion.
$PNUT's popularity began with a viral story about Peanut, a pet squirrel that was temporarily seized by local officials in the U.S. over rabies concerns. When tests confirmed that the squirrel was rabies-free, interest in the token surged, attracting investors' attention.
Bullish momentum is strong as $PNUT breaks above its 50-day Simple Moving Average (SMA). Its Relative Strength Index (RSI) has climbed to 85, indicating strong buying pressure. The Moving Average Convergence Divergence (MACD) also supports this trend, suggesting that the MACD line has crossed above the signal line, potentially leading to further gains. If the current trajectory holds, $PNUT may soon reach its next target of $1.50.
However, the high RSI indicates that the token may be overbought, increasing the likelihood of a pullback as investors take profits. In this case, $PNUT may retreat to a support level around $0.40.
3.ACT
Act I: Artificial Intelligence Prophecy ($ACT) has taken the cryptocurrency market by storm, surging over 60% in just 24 hours. According to CoinMarketCap, its trading volume skyrocketed by 293.50%, reaching $776.38 million. This rapid growth was sparked by Binance's announcement of $ACT's listing, with trading set to begin on November 11.
Prior to this, the Binance listing acted as a catalyst, pushing the token above its 50-day and 200-day Simple Moving Averages (SMA), signaling a strong bullish trend. The Relative Strength Index (RSI) is currently at 95, suggesting that the token may be overbought and potentially overvalued.
Technical indicators remain positive, with the Moving Average Convergence Divergence (MACD) showing bullish signals as the MACD line crosses above the signal line. If buying momentum continues, $ACT may break through higher levels, with the target price for optimistic investors set at $1.00.
Market sentiment is extremely optimistic, with the Fear and Greed Index scoring 78, indicating 'extreme greed'. Predictions suggest that if the cryptocurrency market remains favorable, the average price of $ACT could reach $2.19 by 2024. However, if conditions worsen, the token's price could fall to $0.39. Currently, the rise of $ACT showcases its potential, but investors should closely monitor signs of market shifts or adjustments.
