Some important news:
1. According to Santiment analysis, the sentiment in the crypto market has rapidly shifted from bullish to bearish in the past two weeks, especially after the market capitalization adjustments (especially altcoins). Investor interest in meme coins has significantly decreased, while attention on Bitcoin has risen again.
2. Matrixport states that the rebound of Ethereum and other altcoins is limited, making it difficult to form a sustained increase, while Bitcoin continues to firmly hold its dominant position in the market.
3. CryptoQuant founder and CEO Ki Young Ju released data stating: 'The combined Bitcoin holdings of ETFs, various governments, and MicroStrategy now account for 31% of known Bitcoin holdings.'
4. Last week, Ethereum spot ETFs had a net inflow of 62.73 million USD. In the past 7 days, a suspected address of Sun Yuchen redeemed 39,999 ETH (143 million USD) from Lido Finance and Etherfi, and then deposited everything into HTX.
Currently, the situation with Bitcoin is that although it is not falling sharply anymore, it is not fully stabilized and is still slowly sliding down. The good news is that everyone is not so panicked now, and the number of sellers has decreased. However, caution is still needed; if Bitcoin suddenly experiences a sharp drop, those altcoins may also face trouble. Of course, this is just my personal opinion; in investment matters, you still have to make your own decisions.
I estimate that Bitcoin may fluctuate between 94,000 and 98,000. It seems that everyone is not so scared now. If Bitcoin really falls below 90,000, that might be a good time to build a position. Generally speaking, a crash in a bull market lasts about 7 to 11 days, and it looks like the time is about right. Today's BTC, from the K-line perspective, is about to decline at the 1-hour level, showing weakness at the 4-hour level, a decline at the 12-hour level, and a drop at the daily level, with an intraday resistance level of 96,500 and a support level of 91,000 USD.
Three potential 100x coins for 2025 layout!
1. Ethereum (ETH)
Ethereum (ETH) has recently experienced significant price volatility. In the past week, its value has fallen by 15.25%, marking a significant decline. Over the past month, the price has dropped by 2.48%, and over six months it has decreased by 2.16%. Currently, Ethereum is trading between 3,648.43 USD and 4,137.17 USD, reflecting market volatility.
Technical indicators hint at Ethereum's possible future movements. The Relative Strength Index (RSI) is at 38.07, close to oversold levels, suggesting a potential rebound. The stochastic indicator is at 21.50, also indicating oversold conditions. However, the Moving Average Convergence Divergence (MACD) level is at -21.52, showing bearish momentum. Prices are hovering near its 10-day and 100-day simple moving averages, which are 3,331.27 USD and 3,461.32 USD respectively.
Ethereum's immediate resistance level is at 4,318 USD. If the price breaks through this point, it may aim for the second resistance level of 4,807 USD, an increase of about 11%. On the downside, the recent support level is at 3,340.38 USD. A break below this support level could lead to a second support level of 2,851.64 USD, a drop of about 15%. Given the current indicators and support levels, Ethereum may be about to reverse or decline further, marking a critical moment for the asset.
2. Ripple (XRP)
In the past six months, XRP's price has surged by 366.94%. This significant increase reflects strong interest and trading activity in cryptocurrencies. In the past month, XRP's price has risen by 77.14%, showing a strong upward trend. However, it has dropped by 7.81% in the past week, indicating some short-term volatility.
Currently, XRP's trading price is between 2.03 USD and 2.73 USD. The recent resistance level is at 3.02 USD; if this point is broken, it may test the second resistance level of 3.73 USD. On the other hand, the recent support level is at 1.61 USD, with a secondary support level at 0.9041 USD. These levels are key indicators for potential price movements in either direction.
Technical indicators present a mixed situation. The 10-day and 100-day simple moving averages are close, at 2.24 USD and 2.28 USD respectively, indicating that the market is consolidating. The Relative Strength Index (RSI) is 42.72, indicating that XRP is neither overbought nor oversold. The MACD level is slightly negative at -0.0059, which may indicate a mild bearish sentiment. Monitoring these indicators can provide insights into XRP's potential price movements in the near future.
3. Solana (SOL)
SOL has recently experienced significant price volatility. In the past week, its price has dropped by 18.80%, and over the past month, it has decreased by 30.50%. Despite the price drop, Solana has still grown by 34.97% in the past six months. The current trading range is between 205.85 USD and 239.87 USD, with high volatility.
Technical indicators suggest that the bearish trend may persist. 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 data suggest further declines may occur, but if buyers intervene, they may also indicate an imminent reversal.
Solana's recent support level is at 188 USD; a break below this support could lead to a drop to the next support level of 154 USD. On the upside, resistance levels are at 256 USD and 290 USD. To reach the first resistance level, Solana needs to rise about 8%. Dropping to the recent support level indicates a drop of about 10%. The 10-day SMA is at 182.89 USD, and the 100-day SMA is at 193.52 USD, indicating that the recent price is above average.