Last night, alongside a slight drop in US stocks, it broke through the recent consolidation range. As for where it goes, no predictions are made.
Looking at the market from two perspectives:
1. Firstly, market sentiment is not high, especially influenced by the drop of altcoins. Funds within the circle are actually not active; at least there have been very few active tokens in CEX recently, while on-chain activities appear more active, indicating some active funds may have shifted from CEX to on-chain.
2. The current position of US stocks is indeed difficult to push up. I believe BTC and US stocks will both be sluggish in the coming days, mainly to leave room for the market after Trump's inauguration in 20 days.
If a double top is to be formed, it is still possible to speculate on this news of Trump's inauguration from the beginning of the month, depending on whether the main players are willing to do so.
Operational level: It is possible to gradually bottom out after the low point post-New Year, and the pullback should be in place from a timing perspective. The focus on rebound cryptocurrencies still looks at recently strong cryptocurrencies.
Ambush 3 altcoins with future value of 100 times! 1.TON
Tonstakers is the leading liquid staking protocol on the TON blockchain, now integrated into Bybit's Web3 wallet. This allows users to stake Toncoin ($TON) and receive $tsTON as a reward. The value of $tsTON gradually increases relative to $TON approximately every 26 hours. This mechanism provides competitive rewards while supporting the development of the TON ecosystem.
Through this integration, Bybit aims to connect its users with DeFi opportunities and allow 130 million participants in the TON ecosystem to engage in staking. Currently, the trading price of Toncoin is $5.58, reflecting a 2.61% increase over the past week.
The trading price of this cryptocurrency is well above its 200-day Simple Moving Average (SMA) of $2.03, indicating strong long-term bullish momentum. However, short-term indicators such as the 14-day Relative Strength Index (RSI) of 47.69 suggest a neutral trend, indicating that the price may consolidate sideways.
Predictions indicate that the trading price of Toncoin will be around $5.63 by the end of this year, suggesting a slight increase of 0.81%. This indicates that investors' short-term profit potential is limited, but stability is also not optimistic. Additionally, the Fear and Greed Index shows 'Greed', reflecting positive market sentiment.
2.SHIB
Shiba Inu (SHIB) is a community-supported decentralized cryptocurrency. Built on Ethereum, SHIB has become a noteworthy digital asset.
The new member of the Shiba Inu ecosystem is the TREAT token, designed to enhance governance and liquidity. This token allows community members to participate in decision-making through a voting system, giving them a say in the project's future. TREAT also enhances liquidity, helping to maintain stability and support broader ecosystem development.
The Shiba Inu project is expanding into the metaverse to create a more interactive and unified platform for its users. TREAT contributes to this vision by introducing tools that improve platform functionality. These efforts aim to enhance engagement and build a cohesive community experience.
Moreover, the trading price of SHIB is $0.00002162, down 2.80%. The price trend's sentiment seems bearish, with the Fear and Greed Index rated at 65, indicating market greed. The Relative Strength Index (RSI) is 37.25, suggesting a neutral position, pointing to potential sideways trading. Predictions estimate that SHIB may rise by 226.97% by January 2025.
3.ENS
Ethereum Name Service (ENS) currently ranks 83rd in cryptocurrency. Its price is $32.63, up 2.59% in the past 24 hours. ENS has a market cap of $1.14 billion, with a 24-hour trading volume of $235.44 million, a significant increase of 83.86%. The Fully Diluted Valuation (FDV) is $3.25 billion, with a circulating supply of 35.18 million ENS and a total supply of 100 million.
Over the past year, ENS has performed well, with its price rising by 228%, outperforming 86% of the top 100 cryptocurrencies. During this period, it has also outperformed Bitcoin and Ethereum. The trading price of this token is above its 200-day Simple Moving Average (SMA), reflecting a strong long-term bullish trend. In the last 30 days, ENS recorded 15 green trading days, accounting for 50% of the month.
The Fear and Greed Index for ENS is currently at 65 (Greed), indicating positive market sentiment. These trends suggest sustained interest and optimism around ENS, but market conditions should be closely monitored.
