Currently, Ethereum needs to stabilize around $3,550 to initiate a new round of increases. If the price dips to the $3,450-$3,550 range and those who haven't bought yet can enter, it would be a good opportunity. Trump is set to take office on the 20th, and historical data suggests that there will be a rally before the favorable news lands. It’s worth noting that after this rally, there could be a deeper decline, but of course, after the drop, a stronger rise will follow. Following the pattern seen when Bitcoin ETF news broke, Trump's inauguration could lead to a similar market movement. Based on the timeline, starting today, one should begin buying on dips, and from the 20th to the end of the month, there’s a high likelihood of an adjustment. February and March are expected to show a strong overall upward trend! This is the rough forecast! For those seeking high risk and high returns, focusing on strong assets is advisable; for those seeking low risk and high returns, the strategy is to accumulate Ethereum on dips. Ethereum is likely to touch $4,000 before the 20th, and the next target for Bitcoin is around $103,000-$105,000! This summarizes the general operational strategy for this month. At any time, surviving is always more important than making a profit! Less greed, more survival! The longer you survive, the more opportunities will naturally arise!
Ambush 3 cryptocurrencies with the potential for 100x future value! 1. ICP
Many altcoins have surged alongside Bitcoin's recent bull market trend, with Internet Computer (ICP) standing out as a leader. In the past 24 hours, ICP's price has increased by 11.36%, with a weekly increase of 13.68%. Currently, the token's trading price is $11.89, garnering interest from traders and investors.
ICP has shown resilience, finding support near $10. After breaking through its descending wedge pattern, this support level has become crucial for its recent rebound. Analysts state that if ICP can overcome the direct resistance level of $11.95, it could pave the way for further gains. Potential targets include $13.75, $15.50, and $18.80, indicating that the token has good upside potential.
More positively, the Swiss organization behind the Internet Computer, the DFINITY Foundation, will release its 2024 ecosystem report in November. The report highlights significant advancements in cross-chain technology for the platform, primarily through the Chain Fusion protocol. Activity on Chain Fusion has surged an astonishing 1,230% over the past year.
The Chain Fusion protocol is a key feature of the Internet Computer blockchain, enabling seamless interaction between smart contracts and multiple blockchain networks. This feature has gained favor among developers, with message processing volume within the protocol increasing significantly by 2,040% compared to the previous year. This surge reflects the growing demand for cross-chain solutions, supporting the development of complex multi-chain applications.
2. FLOW
Flow (FLOW) trading price is $0.7732, up 3.81% in the last 24 hours. Its market capitalization is $1.2 billion, with a 24-hour trading volume of $68.97 million, soaring 40.41%. The fully diluted valuation (FDV) matches its market cap, reflecting that FLOW's total circulating supply is 1.55 billion.
Market sentiment towards Flow is neutral, although the Fear and Greed Index shows a score of 74 (Greed), indicating strong market interest. Flow's trading price is 7.10% above its 200-day simple moving average (SMA) of $0.725556, highlighting a positive price trend. Over the past 30 days, Flow has experienced 15 green trading days, accounting for 50%, with a price volatility of 18.62%, indicating consistent movement.
Currently, technical indicators show that Flow has tremendous growth potential. Prices are expected to rise by 233.08% by February 2, 2025, reaching $2.54. This optimistic outlook, along with Flow's high liquidity and strong market indicators, suggests that now could be a good time to invest in Flow.
3. SHIB
Shiba Inu holds a significant position in the cryptocurrency market, often viewed as a rival to Dogecoin. It was initially launched as a meme coin but has since evolved into a multifaceted project, including ShibaSwap, its decentralized exchange, and the Shiba Inu Rescue Association. SHIB is community-driven, and its appeal lies in its community engagement and liquidity potential.
Recently, Shiba Inu made headlines by adopting Chainlink's CCIP, a technology that enables secure cross-chain interoperability. This innovation allows users to purchase virtual land with ETH or SHIB on Ethereum and ShibariumNet, which could bolster its metaverse ambitions. This development aligns with SHIB's efforts to transcend its meme coin status and enhance its utility, positively impacting investor sentiment.
In the short term, SHIB has seen a mild increase of 2.01% in the past 24 hours and a 3% rise over the past week. However, it has dropped 25.8% compared to last month, indicating some volatility. Its relative strength index (RSI) is currently at 41.02, suggesting a neutral market stance. Despite recent fluctuations, SHIB's liquidity remains relatively high, with a trading volume to market cap ratio of 0.0568.
In the long term, Shiba Inu's trading price is 9.37% above its 200-day simple moving average, reflecting healthy growth. Over the past year, SHIB has surged 134%, outperforming 73% of the top 100 cryptocurrencies. This positions it as a strong contender in the meme coin space with growth potential.
Shiba Inu offers investors a unique opportunity as it combines community engagement, cutting-edge innovation, and solid market performance. Despite being affected by volatility, its evolving ecosystem and strong community support make it a promising choice for those willing to take on some risk.
