With the crypto-friendly new president Trump about to take office, the BTC spot ETF has been approved and traded for almost a year, the FASB has come into effect, MSTR continues to buy, and has also joined the Nasdaq 100. The new journey has already begun. Although it has reached 100,000, it is still just the beginning. There are still cycles and opportunities. Refer to the trend of gold after the spot ETF was approved in 2004.
For BTC, we should maintain rational imagination and expectation. The eternal slow bull market may not be correct. It is impossible to keep rising or falling. Of course, ETH, which is also traded through spot ETF, still has rational imagination. The story is not over. When we come to this circle, we should not forget our original goal, but we should also follow objective reality. Investment is anti-human. Come on, friends, let’s witness the road of value storage together.
Invest in 3 cryptocurrencies that could potentially increase 100 times in the future!
1.ENA
Ethena Labs recently partnered with World Liberty Financial (WLFI), a decentralized finance initiative supported by elected President Donald Trump. The focus of this collaboration is to enhance the liquidity of stablecoins while improving user rewards on the WLFI platform. A key element of this collaboration is a governance proposal aimed at integrating Ethena's stablecoin sUSDe as the primary collateral asset for WLFI's Aave-supported protocol.
The sUSDe token developed by Ethena Labs is a synthetic digital asset used for decentralized finance applications. If approved by the WLFI governance community, this integration will allow users to utilize sUSDe as collateral to access other stablecoins like USDC and USDT. The proposal is expected to be voted on in the coming week, which may unlock new features and increase user engagement on the WLFI platform.
Meanwhile, the price of Ethena's native token ENA has shown volatility. The current trading price of the ENA token is between $1.05 and $1.10, stabilizing around $1.04 after a brief drop.
This collaboration is likely to benefit both parties. Incorporating sUSDe as collateral may attract a broader user base to the WLFI ecosystem, thereby enhancing its liquidity. Additionally, it may drive demand for the Ethena stablecoin, potentially boosting market confidence and increasing the value of ENA. This collaboration marks a strategic step forward for both platforms in the DeFi space.
2.SOL
SOL has recently experienced significant price changes. Over the past week, the price has dropped by 18.80%, and it has fallen by 30.50% in nearly a month. Despite these declines, Solana has grown by 34.97% over the past six months. The current trading range is between $205.85 and $239.87, indicating high volatility.
Technical indicators suggest that the bearish trend may continue. The RSI is at 38.29, close to oversold levels. The MACD is negative at -1.376, and the stochastic oscillator is low at 26.34. These numbers indicate that prices may decline further, but they may also suggest a potential reversal as buyers step in.
Solana's recent support level is $188; a drop below this could lead to a further decline towards the next support level of $154. On the upside, resistance levels are at $256 and $290. To reach the first resistance level, Solana needs to rise about 8%. Dropping to the recent support level indicates a decline of about 10%. The 10-day moving average is $182.89, and the 100-day moving average is $193.52, indicating that recent prices are above average.
3.XRP
Over the past six months, XRP has surged by as much as 366.94%. This significant growth reflects strong interest and trading activity in cryptocurrencies. Over the past month, XRP's price increased by 77.14%, showing a strong upward trend. However, it fell by 7.81% last week, indicating some short-term volatility.
Currently, XRP is trading between $2.03 and $2.73. The recent resistance level is $3.02, and if this point is broken, it may test the second resistance level of $3.73. On the downside, the recent support level is $1.61, with a secondary support level at $0.9041. These levels are key indicators for potential price movement in either direction.
The situation with technical indicators is mixed. The 10-day and 100-day simple moving averages are close to each other at $2.24 and $2.28, indicating that the market is consolidating. The relative strength index (RSI) is at 42.72, indicating that XRP is neither overbought nor oversold. The MACD level is slightly negative at -0.0059, which may suggest mild bearish sentiment. Monitoring these indicators can provide insights into XRP's potential price direction in the short term.
