It's the weekend, with low liquidity and no market makers. BTC remains steady at 95,000, with strong support at 93,000 and 94,000, especially with stronger buying at 94,000. Market sentiment is still okay, neither rising nor falling, a garbage time. Tomorrow is Monday, let's see the sentiment of the Americans, but after two days, it's New Year's Day. Let's enjoy the New Year during this garbage time. We can look forward to Q1 2025.
As for altcoins, it's even more of a garbage time, but AI-related ones seem a bit interesting. Perhaps there will be a major hype around this track next year. What will be the new tracks similar to the 'DEFI summer' of 2020? AI+Depin, RWA, BTCFI, or something else? Let's look forward to it, as this presents new growth and wealth opportunities.
Layout to bottom fish 3 altcoins that may rise 10 times in the future! 1.PHA
Phala Network is expanding its advantages as the Web3 AI execution layer, bridging the gap between artificial intelligence and blockchain technology. By enabling seamless interaction between AI and blockchain, Phala opens the door for a broader audience, potentially bringing the first billion users into the Web3 space.
Phala Network's innovative multi-proof system addresses key challenges in AI execution. Through its AI agent contract functionality, the platform allows developers to create tamper-proof and unstoppable AI agents, tightly integrated with on-chain smart contracts.
Recently, the price movement of Phala Network has attracted widespread attention. The token has shown a strong bullish trend, significantly breaking through key resistance levels. After consolidating around $0.17, the price has surged parabolically to a historic high of $0.5536. This impressive movement highlights the growing confidence in Phala's potential.
From a technical perspective, the 50-day Simple Moving Average (SMA) of Phala Network is $0.20, and the 200-day Simple Moving Average is $0.17, which has decisively crossed. This crossover formed a golden cross around $0.1665, which is a strong bullish momentum indicator.
However, the Relative Strength Index (RSI) is currently at 79.77, indicating that the market is in an overbought state, suggesting that the upward trend may face a correction or consolidation period. While this indicates that the bulls have firmly taken control, traders should remain cautious, as overbought areas typically precede market adjustments.
Looking ahead, as long as the bullish momentum continues, the price structure of Phala Network indicates there is further room for upward movement. With market interest persisting, the next target seems to be a resistance level of $0.60, providing additional upside potential for investors.
2.SOL
The Solana network has made significant strides in the cryptocurrency space, and the proposed VolatilityShares Solana futures ETF adds another milestone to its development. This ETF aims to provide investment in Solana futures while offering 1x, 2x, and -1x leverage options.
The market performance of Solana is impressive. The current price is $196, with a market capitalization of $89.19 billion, making it the sixth largest cryptocurrency in the world. In the past 24 hours, the trading volume reached $2.17 billion, with a trading volume to market capitalization ratio of 2.44%.
In the past year, Solana's price has grown an astonishing 71%, outperforming 64% of the top 100 cryptocurrencies. Its trading price is 5.76% higher than its 200-day Simple Moving Average (SMA) of $176.24. This sustained trading above key technical indicators highlights the strength of Solana's upward momentum. Additionally, its high liquidity relative to market capitalization indicates strong investor confidence and increasing institutional interest.
3.BNB
Binance Coin (BNB) ranks fifth in cryptocurrency, with a current price of $702.89. The sentiment surrounding Binance Coin remains bullish, with a fear and greed index of 72 (greed). Over the past year, the price has surged by 122%, outperforming the 76% increase of the top 100 cryptocurrencies during the same period.
The trading price of BNB is above its 200-day Simple Moving Average, indicating a strong upward trend and high investor confidence. Additionally, in the past 30 days, this currency pair has seen 15 days of gains, with the daily closing price exceeding the daily opening price.
Binance Coin has performed well compared to its token sale price, and its trading price is close to the cycle peak, demonstrating that Binance Coin is a resilient and well-performing asset in the cryptocurrency market. Its strong liquidity and stable growth further solidify its status as a leading digital asset.
