Today's market analysis:
BTC：
From 1:00 a.m. to the 4-hour line, the bottom has been formed. Focus on the lower 61200, and the lowest in the morning is 61338. The US presidential election debate began, and the two candidates expressed their views on digital currency, and the bitcoin price rose rapidly. At present, the technical side is facing the suppression of the 7-day moving average of the daily line. If it breaks through 62500 during the day, the short-term target will be around 63800. The lower support during the day is 61500-61000. At 8:30 p.m., pay attention to the annual rate of the US PCE price index and the inflation situation in the United States.
ETH: The daily trend reversed, and the technical downward trend was broken. Focus on breaking through and stabilizing in the pressure area near 3520 during the day. It is expected to continue to rise to around 3600 in the later period.
Important daily information sharing:
1. In the presidential election debate between U.S. President Biden and former President Trump held on CNN starting at 9 a.m. today, the MEME coin $BODEN supported by Biden and the MEME coin $TRUMP supported by Trump both appeared. Significant decline.
Putting aside MEME coins, this year's US election shows that the crypto industry is gradually being accepted and popularized among young people. In order to win the support of young voters, the Republican and Democratic parties have a very positive attitude towards the crypto industry. However, at present, Trump seems to be more inclined to support these measures.
2. Investment management company VanEck has applied to launch a Solana ETF, and this news immediately sparked heated discussions in the industry. In the short term, SOL and its related ecosystem and MEME coins have shown varying degrees of upward trends. However, it should be pointed out that it is only in the application stage, and it may take quite some time for the ETF to be approved.
For altcoins, the bottom of this callback is unlikely to fall below, and the future market is not pessimistic, but it will take some time. At the current stage, holding spot is a good choice! As for when the market will start, I personally think that the listing of ETH ETF will be a good opportunity. In fact, looking back at the Bitcoin ETF before it was approved and listed, the currency circle also experienced a downturn. In short, as long as you can hold on to the dark moments and not rush to sell, you can outperform half of the people. Those who are not afraid of fighting and willing to leave the market at the high point are often the elites who can really make money.
3 altcoins that are about to explode are expected to achieve a 20-fold increase!
BABY
PEPE coins could go up to $1! Many people think that PEPE coins cannot reach $1 because there are too many tokens in circulation. It sounds like a fantasy to let 420 trillion tokens go up to $420 trillion. But think about it, in 2009, Bitcoin was only a few cents. 15 years later, it soared to $73,000 per coin. Why did it go so high? Time is the biggest factor. PEPE coins have a deflation mechanism that can destroy tokens at any time to increase the price. With each transaction, a portion of the tokens will be burned and removed from the system.
Although this feature is not yet available, imagine that the tokens destroyed are in trillions. PEPE coins are very popular in the cryptocurrency circle, and the price fluctuates greatly, and you can make a lot of money in a year. However, many people still don't understand what the deflation mechanism is. But it doesn't matter, time will tell!
MSEK
Maker has regained momentum, with its value rising 7.93% in the past 24 hours after a bearish trend since April. The surge in price was supported by a 41.69% increase in trading volume, indicating increased investor confidence in the token. Moreover, the altcoin has gained 4.12% in the past week, reflecting growing bullish sentiment on MKR’s price. The MACD technical indicator has shown an upward pattern in its green histogram, and technical analysis shows that this pattern indicates increased buying pressure on Maker in the market.
Additionally, MKR’s simple moving average (SMA) achieved a bullish crossover on its 24-hour price chart, indicating a positive outlook for the token this week. Meanwhile, MakerDAO recently integrated the Direct Deposit DAI Module (D3M) into Spark’s MetaMorpho Vault, strengthening the decentralized finance system. The integration enabled Spark to supply 500 million DAI to Ethena’s USDe and sUSDe markets pegged to DAI.
This development has contributed to the recent positive performance of the coin. If the entire cryptocurrency market can maintain the bullish sentiment, Maker is expected to retest its resistance level of $2,639 in the upcoming weekend. This prediction is based on the bulls holding off the bears while avoiding profit-taking. On the contrary, if the trend reverses, the price of Maker may drop to its critical support level of $2,165.
HBAR
Hedera (HBAR) is a public network that aims to revolutionize the digital landscape with its fast, secure, and fair consensus algorithm. Hedera leverages a unique structure called a hashgraph to enable fast transactions, low fees, and strong security. HBAR tokens serve multiple functions in the network, including paying transaction fees, providing network services, and securing the network through staking.
Features:
Hashgraph Technology: Ensures fast transactions and low fees while maintaining high security.
Versatility: Supports a wide range of applications from supply chain management to gaming and social media.
Developer Appeal: Ideal for developers looking to create scalable and efficient decentralized applications (dApps).
Hedera’s innovative approach makes it a top choice for those looking to leverage blockchain technology in a variety of fields. Its ability to support a wide range of applications positions it well for future growth, especially as demand for efficient and scalable dApps continues to grow.
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
