Have you started to feel confused again this week?
Currently, various rumors are circulating in the market, especially that the altcoin season may not appear again. Whenever the market is good or bad, someone always says, 'This time is different.' But from my perspective, it’s always the same because human nature in the market remains unchanged.
If you're feeling lost, it might be because your position is too heavy or the chosen targets are problematic. The current market correction is necessary to prepare for future gains. Many promising coins have already dropped to low points; tonight's interest rate meeting may provide clear direction!
Let's take a look at today's market trends.
The trends of Bitcoin and Ethereum are clearly unable to drive the market, leading to sluggish conditions and low market activity. The fluctuations of altcoins are unstable, with almost no significant rises, making it feel like the market is stagnant.
Logically, Ethereum should benchmark against Bitcoin, and given Bitcoin's upward momentum, Ethereum should have broken 10,000 long ago, and altcoins should have at least increased tenfold. However, this trend has not materialized. In the second half of the year, although the meme sector and some old coins have had brief surges, the overall increase is not significant. Ethereum still has the potential for a rally, currently resting near the 3800 support area. After the subsequent consolidation ends, altcoins are expected to follow. Stay patient; there is not much panic in the market, and just continue holding your positions.
Let's continue to look at today's hot topics in the market!
The first project to mention is PENGU, which was originally a promising project but is now facing backlash!
On the evening of December 17, Pudgy Penguins launched the PENGU token on Solana, with a maximum supply of 88.88 billion tokens.
Trading was exceptionally active when the token was just launched, but the profit and loss gap among investors is enormous:
A trader spent 23,742 SOL (about $5.36 million) to purchase 239.6 million PENGU, then sold it for 60,726 SOL (about $13.72 million), making a profit of 36,984 SOL (about $8.36 million) in just 20 minutes.
However, another investor bought PENGU at the opening with $10,000, only to see the token's valuation drop dramatically, with the $10,000 quickly shrinking to $5, suffering a heavy loss.
Due to errors in the data statistics for the launch of PENGU, Binance Wallet has officially launched Binance Alpha, focusing on discovering emerging crypto projects with growth potential, providing an entry point for discovering new tokens. This platform serves as an observation pool before listing, aimed at enhancing project transparency and helping users understand tokens that align with community interest and industry trends.
Today, speculation has begun regarding the Alpha projects listed on Binance! A batch will be announced at 6 PM and 8 PM, and the five projects announced at 6 PM have already been released!
There may be three reasons for the reverse trend of altcoins:
Altcoins need to correct after a previous surge.
Mainstream market funds are concentrated in Bitcoin, showing low interest in altcoins, unless projects like ONDO supported by BlackRock emerge.
The US interest rate cut and Japan's rate hike are approaching, with funds leaning towards caution and favoring the more certain Bitcoin.
This contradiction is expected to end in the coming days, but with the results of the interest rate decisions, altcoins are likely to rebound.
Recent investments:
HBAR
Pay attention to the resistance level of 0.33; if it breaks through within a week, a significant rise is expected. Interested friends can consider positioning, and remember to thank me after the rise!
CELR
The current price is encountering resistance in the 0.033 area and has not broken through, temporarily not recommended to hold. To reach the target of 0.066, it must first break through the 0.033 area and form an upward trend. This condition has not yet been met.
FIL
Previously, when the price reached the 7.7 area, I suggested reducing positions. If considering entry now, it is advisable to patiently wait for the 5.8 area to see if a green closing K-line can form.
Today's article ends here; currently, we are in a bull market, with exciting developments. We share codes daily. If you're unsure how to navigate a bull market, feel free to follow us for strategies and insights, which can be shared freely.
