The first half of 2024 has passed. After the surge in the past six months, the crypto market has been sideways for three months. The mainstream currencies have retreated by about 30%, and most of the altcoins have retreated by more than 50%. Are there any opportunities in the second half of 2024?
From the perspective of fundamentals, we focus on two aspects:
1: The Federal Reserve will cut interest rates. This is certain. Whether it is this year or next year, it is inevitable.
2: Approval of spot ETFs. The crypto market has been around for ten years. From the early chaos to the current gradual standardization, institutions have become the main participants in the market, which will make the bull market last longer.
ORDI
Ordi is a digital currency based on blockchain technology, which aims to create a decentralized financial ecosystem. Compared with traditional currencies, Ordi coins have higher security and anonymity, providing users with a more convenient and faster payment method. The total issuance of Ordi coins is limited, which also makes it scarce in the market, further promoting the growth of its value.
ORDI is oscillating with shrinking volume at the daily level. Waiting for the trend of Bitcoin to become clear, we can confirm the bottom area of the red frame situation and buy in batches on dips. The coin with a dealer will not end so abruptly. No matter what the outside world thinks, I still believe that ORDI will have another big wave of market.
ROSE
Oasis Network (ROSE) is a privacy-focused, scalable blockchain platform designed to support decentralized applications (DApps).
Amid the current rally in the cryptocurrency market, ROSE price showed a clear reversal from the combined support of the ascending trendline and horizontal lines at $0.082. The rise pushed Oasis Network Token up 15.5% to $0.09, while the market cap reached $638.5 million.
Based on past records, the support trendline is a gathering point for dip buyers to support large-scale rallies. Therefore, in case of continued buying, ROSE price may rise to $0.13 and then $0.18.
TON
Toncoin (TON) is an altcoin that has recently gained momentum. Notably, Toncoin announced that it has reached a new milestone – surpassing 2 million followers on the social media platform X. This achievement shows the level of interest in this altcoin and its growth potential.
Having said that, the value of Toncoin has grown by more than 450% on the charts year to date. Moreover, the altcoin is trading above the 50-day and 100-day MAs while having 26 green technical indicators. Due to all this Toncoin news and signals, its value is predicted to rise to $10 before the end of the second quarter of 2024.
SATS
SATS (1000SATS-USD) is a cryptocurrency named after the Satoshi. Satoshi is the smallest unit of Bitcoin and was created by an anonymous creator in honor of Satoshi Nakamoto, the man behind the leading cryptocurrency. One Satoshi is equal to one hundred millionth of a Bitcoin (0.00000001 BTC). This means there are 100 million Satoshis in one Bitcoin.
The coin became popular after it was listed on Binance in December last year. It appreciated by more than 150% at the time, but has never replicated that performance since. However, it may become one of the best cryptocurrencies you can buy, especially if you are a daily trader.
That’s because it has seen regular price increases so far, which can deliver strong returns if timed correctly. In addition, it has demonstrated staying power. If you hold onto SATS for the rest of the year, you’ll likely be very happy when the alt season rebounds.
GRT
The Graph (GRT) is a decentralized protocol for indexing and querying blockchain data, enabling efficient data retrieval for decentralized applications (dApps).
GRT coin entered its current correction trend in early March, with the price retreating from $0.49. The bearish reversal dropped the asset to the psychological support level of $2, a loss of nearly 60%.
Selling pressure in the altcoin market eased this week as Bitcoin price stabilized above $60,000. Graph coin (GRT) maintained above the $2 support level, rebounding 1.2% to trade at $2.1. Meanwhile, the market capitalization surged to $2 billion.
A rebound from the $2 bottom might help buyers to break above the overhead resistance trendline, thereby continuing the current corrective trend. A potential breakout could signal the end of the corrective trend and pave the way for buyers to target the $1 mark.
