Market Review and Analysis
The market closed with a pin yesterday, and the second cake closed with a negative line with a pin. From this, we can clearly see the weakness of the second cake. The opening line rebounded slightly in the early morning and wanted to repair the upper pin state, but the buying volume was very weak, which made this rebound very weak. It is not so easy to repair, and in the current market, the decline in market conditions has become a trend, so it is more difficult to repair the upper pin. The volatile market shows that the market is getting worse and worse, especially in the process of the big cake's correction, the market is even worse. It is expected that there will be a wave of market conditions at the end of the month. It is still uncertain to what extent it will fall next month, but the current downward trend has been formed.
Today's highlights
During the intraday rebound of BTC market, we can first pay attention to the 60000 integer barrier. After yesterday's upward surge, the 58000 line was still supported and did not fall below. At the intraday level, we should first look at the support position of the first line of 58000. If it falls below, we should pay attention to the range of 55600-56500. The market will not fall to the point at once, waiting for the support to fall below
ETH was obviously weak yesterday, and the support point was still around 2500 points, which was not touched yesterday. The market is still in a volatile trend. Waiting for the first line of intraday level 2500 to break through before looking at the key support position of the key point 2460. The defense of this position mainly depends on whether it will reach the key point of 2200 points in the future. The resistance position at the intraday level is mainly in the range of 2600-2620.
Altcoins
STX: Stacks is a Bitcoin L2 that brings smart contract capabilities to Bitcoin without modifying Bitcoin itself. Stacks takes a pyramid approach, with a base settlement layer at the bottom (Bitcoin), then adding smart contracts and programmability layers on top of it (Stacks), and then layers on top of that for scalability and speed (Hiro’s subnets)
The market value is 3.5 billion dollars, the circulation volume is 1.465 billion, and the total supply is 1.818 billion.
STX: It is estimated that there is little chance of returning to 1.3, so we will change the target to 1.42, make up for it when it reaches 1.42, and then wait for a breakthrough of 1.6. A short-term breakthrough will open up further room for a rebound.
Celestia is the first “modular blockchain”, previously known as “LazyLedger”, and is an infrastructure specializing in “data availability (DA)”.
Modularity is the key to solving the blockchain trilemma, and will bring a secure, scalable, and decentralized multi-chain future. Celestia adopts a modular architecture, deconstructing the blockchain into data, consensus, and execution, and empowering developers with limited budgets to easily deploy their own blockchains with a streamlined, modular consensus layer. The total supply of tokens is 1.055 billion, and the circulating supply is 196 million.
TIA: Those who bought at 4.9 yesterday can continue to hold, and add to the position when it breaks through 6.0. Currently, the short-term trend is still volatile, waiting for guidance from the big cake.
SATS: SATS is a BRC-20 token that pays tribute to Satoshi Nakamoto. SATS is the abbreviation of satoshi, the smallest unit of Bitcoin. One satoshi is equal to 0.00000001 BTC. The token is a meme token written by an anonymous team. Currently in full circulation, the total circulation is 210 billion
UniSat released a product update for UniSat Swap, which will launch the Swap function on the Bitcoin mainnet and Fractal Bitcoin, and use BRC-20 sats as gas fees.
SATS: There was no adjustment yesterday due to the adjustment of Bitcoin, and there was a small rebound today. Those who entered at 0.0...295 yesterday should hold on and wait for it to break through 0.0...350 before adding more positions.
Although Sun Ge’s pump platform has not attracted much attention in China these days, it has become popular in overseas circles. No matter what, making money is enough. Many meme coins on the Sun Pump platform have risen violently, such as sundog, fofar, suncat, etc. This market directly led to the continued strengthening of TRX, approaching its historical high.
