First, regarding the non-farm data, as a key indicator of the US job market, it has a profound impact on the global economy and financial markets. The abnormal data last time did cause considerable volatility in the market, but this does not mean that the same mistakes will happen again in the future. Although the current market may seem stressful, as you said, staying calm and not cutting losses or shorting positions easily is the key to avoiding missing opportunities in the subsequent possible rebound.
Secondly, regarding position management, your statement of “not exceeding 50% of the current position, leaving room for bargain hunting when the market crashes” is a very wise strategy. This can not only control risks, but also enable you to respond flexibly when favorable opportunities arise in the market and seize bargain hunting opportunities.
Furthermore, you are optimistic about long-term factors such as inflation and Mentougou (which may refer to a specific market problem or event) and believe that they will eventually be resolved. This positive attitude is very important for staying sober and firm in a complex and changing market environment. At the same time, it also reminds us to have a long-term vision and not lose confidence due to temporary difficulties.
"Don't fail tomorrow, so you can win the day after tomorrow"!
Buy these cryptocurrencies in 2024 and get 100 times the return!
1.SUN
The upcoming launch of the Solana ETF is scheduled to be announced between June 27 and 28. VanEck, a heavyweight player in the investment community, and 21Shares have jointly submitted a formal application for the Solana Spot ETF to the U.S. Securities and Exchange Commission (SEC). The move sent shockwaves through the industry and significantly boosted market sentiment. Stimulated by this good news, the price of SOL tokens rose in response, with an increase of about 11%, hitting a high of $150.
Behind this price surge is the market's optimistic expectation that the SEC may quickly approve the Solana spot ETF, which lays a solid foundation for the further appreciation of the SOL token. It is worth noting that although the SEC classified SOL as a security in its lawsuit against cryptocurrency exchanges Binance and Coinbase, the industry generally believes that in the next year, as the regulatory environment gradually becomes clear, the Solana ETF is still expected to be approved.
In particular, some analysts pointed out that the change in SEC leadership after the US presidential election may bring a turnaround for Solana, further strengthening the market's confidence in its future. From the perspective of long-term technical analysis, Solana is currently in a symmetrical triangle consolidation pattern, which echoes the previous upward trend, indicating that Solana is expected to continue its strong upward trend before the presidential election.
If Solana can successfully break through the resistance trendline above, its price is expected to soar to $300 by the end of the year. Currently, the trading price of the SOL token is stable at around $150, with a daily increase of 2.5%. Its total market value has climbed to $69.6 billion, demonstrating its strong momentum and broad prospects in the cryptocurrency market.
2.BONK
Since the beginning of the year, Bonk, the first dog-themed token in the Solana ecosystem, has been performing like a whirlwind and has continued to show strong upward momentum. Even though bearish sentiment has occasionally tried to disrupt its upward trajectory, bullish forces have always dominated, frequently causing prices to bottom out and rebound, showing extraordinary resilience.
Currently, the price of Bonk has successfully jumped above a crucial support level. This breakthrough not only consolidates its upward trend, but also indicates that the token is ready to challenge the next key resistance level.
From a short-term trading perspective, Bonk’s price appears to be in the final stages of a parabolic recovery, with its target directly targeting the critical neckline area close to $0.00003. The continued increase in trading volume provides a steady stream of momentum for the bulls, further consolidating the bullish sentiment in the market.
However, it is worth noting that in order to attract more market liquidity and promote trading activity, the price of Bonk may experience a small correction. This prediction is supported by technical indicators, especially the stochRSI indicator, which often indicates a short-term correction demand after reaching the upper limit.
Therefore, we have reason to believe that the price of Bonk will maintain a consolidation pattern in the upward trend in the short term, accumulate strength through small fluctuations, and eventually it is expected to successfully touch and challenge the eye-catching neckline position before the end of this week.
3.FLOKI
After several days of range-bound fluctuations, the price of the FLOKI token has finally seen a breakthrough rise, a trend that complements the solid performance of Bitcoin and has jointly stimulated positive market sentiment. Currently, the price of FLOKI is actively challenging a key resistance area, indicating that it is expected to maintain its strength this week and successfully touch these key levels.
From the perspective of short-term trading dynamics, both bulls and bears have shown strong strength in the rebound process, so the price has formed a stable tug-of-war between the preset resistance and support levels. However, the RSI indicator continues to maintain an upward trend, sending a positive signal to the market, indicating that in the next few days, the price of FLOKI is expected to remain high and is expected to reach a new high of $0.000018.
It is worth noting that although the bulls have shown fatigue near this key level in the past few days, if similar situations do not repeat, the price of FLOKI is likely to break out of consolidation and further break upward to $0.000019 or even higher. Therefore, investors need to pay close attention to market dynamics in order to seize this potential upside opportunity at the right time.
4.TON
The price action of TON tokens continues to show strong bullish momentum, with a solid upward support trend line clearly visible on the daily chart, demonstrating its firm upward momentum. At the same time, the upward trend not only respects the 50-day exponential moving average (EMA), but also continues to consolidate and create new highs, further strengthening the sustainability of its rise.
Currently, the price of TON is approaching the important psychological mark of $8, indicating that once it breaks through this level, it is expected to usher in a more significant rebound. Especially after successfully crossing the 50% Fibonacci retracement level, TON is expected to hit a record high of $10 and surpass it. This milestone achievement will undoubtedly greatly boost market sentiment.
According to trend line analysis combined with Fibonacci extension levels, Toncoin’s uptrend could theoretically extend to the 1.618 Fibonacci level, or a height of approximately $13.25, which paints an exciting picture of the future for investors.
However, the price trend of TON tokens is not entirely safe. If the project can usher in a major update based on Ethereum, or gain the favor and investment of well-known institutions such as Pantera Capital, its price may usher in explosive growth, and is expected to reach a ceiling of US$14.20 by the end of 2024. But on the other hand, if faced with a stricter regulatory environment or strong bearish sentiment in the market, the price of Toncoin may also experience a correction, and the low point for the year may reach US$5.12. Taking all the above factors into consideration, it is expected that the average price of Toncoin in 2024 will remain at around US$9.66, demonstrating its solid value and potential as a layer 1 altcoin.
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