How to deliberately practice and train your coin selection ability?
A simple way to train your coin selection ability is to pay attention to the relative exchange rate of small coins against BTC. You will form a matrix with two coordinates: one for rising or falling, and the other for outperforming or underperforming. This will create four quadrants: outperforming BTC when rising, underperforming BTC when rising, outperforming BTC (losing less) when falling, and underperforming BTC (losing more) when falling.
There is a type of asset that can outperform BTC when rising and underperform less when falling; this is the best asset choice, but it is unstable.
What you need to practice is to monitor and identify such statistical relationships over the long term in order to find those with high growth potential, decent quality, and market attention, which might outperform BTC. The crypto market is not considered weakly efficient now, so technical analysis can still yield excess returns.
As bullish momentum strengthens, Ethereum (ETH) focuses on key resistance levels
Ethereum's price has soared by 48.75% over the past month, currently ranging between $3094.73 and $3566.24. Technical indicators show bullish momentum, with an RSI of 63.11 and a positive MACD of 13.43. The price is nearing the recent resistance level of $3770. Breaking through this point could allow Ethereum to target the next resistance level of $4242. The 10-day and 100-day simple moving averages are above $3600, supporting the upward trend. Ethereum rose by 10.20% last week, showing strong potential for further growth. The bullish trend indicates it may continue to rise and could reach new highs soon.
Algorand (ALGO) grows by 319% within a month
Algorand's price has recently soared, fluctuating between $0.20 and $0.35. Over the past month, the ALGO price has increased by 319.27%, with a rise of 63.83% just last week. The relative strength index is 59.41, indicating moderate market momentum. The recent resistance level is $0.41, the second resistance level is $0.56, while the recent support level is $0.12. The 10-day simple moving average is $0.47, above the 100-day average of $0.38, indicating an upward trend. The MACD level of 0.0153 also reflects a positive trend. These numbers highlight ALGO's enormous growth potential in the current market environment.
Worldcoin (WLD) is expected to break through resistance in a bullish momentum
Worldcoin (WLD) is trading between $2.15 and $2.82, showing strong momentum, with a price increase of 38.42% over the week and 76.46% over the month. The RSI is 52.25, indicating neutral market sentiment, while the MACD is positive at 0.0394, suggesting upward potential. The recent resistance level is $3.09; breaking through this could see WLD touch the second resistance level of $3.75, with a potential gain of over 30% from the current price. The 10-day SMA is $3.41, and the 100-day SMA is $2.96, both above the current price, indicating room for growth. With the altcoin season approaching, WLD may break through resistance levels.
PEPE: A deflationary meme coin inspired by Pepe the Frog
PEPE is a deflationary meme coin launched on Ethereum, inspired by the Pepe the Frog meme created by Matt Furie. Its goal is to leverage the popularity of meme coins such as Shiba Inu and Dogecoin, seeking to become a leading meme cryptocurrency. PEPE offers a tax-free policy and recognizes its identity as a purely, useless meme coin. From late April 2023 to May 2023, PEPE's market cap soared to $1.6 billion, creating millionaires among early investors and attracting a strong community. Its roadmap includes listings on major exchanges and 'meme acquisitions.' As meme coins gain attention in the current market cycle, PEPE's potential continues to attract interest from the cryptocurrency community.
Dogwifhat (WIF): A new dog-themed memecoin on Solana
Dogwifhat (WIF) is a new meme coin on the Solana blockchain, inspired by the viral Dogwifhat meme. It joins the growing list of dog-themed tokens in the cryptocurrency space. Meme coins like WIF focus on building strong online communities and rely on viral internet culture for popularity. WIF aims to attract users through associations with memes and the robust capabilities of Solana. In the current market cycle, meme coins continue to draw interest due to their community-driven nature. WIF has the potential to attract those interested in fast-paced meme-based projects on the blockchain. Its appeal lies in encouraging fun methods and active participation within the cryptocurrency community.
