After experiencing a sluggish weekend, the market continued to rebound on Monday (9th). From the 4-hour level, 59,000 has now become a resistance position. If it can stand above it, the next strong resistance will be 63,000. This position is also a key point to measure or judge whether it will continue to rise in the future.
Currently, the large level is rebounding and the small level is rising. Only when the market stabilizes above 6w will it reverse. Otherwise, it is just a rebound.
This week's events include the release of CPI and the debate between Trump and Harris. The debate will inevitably affect the economic policies of all parties, which will be beneficial to the market. 70% of investors expect the Federal Reserve to cut interest rates by one basis point at the September meeting.
The main issues that everyone is concerned about at present are:
Will the interest rate cut lead to a rise in prices? When will the bull market begin?
Let me first talk about my views on the current market. Based on past experience, expectations of interest rate cuts are often over-hyped. The situation where hot expectations become cold facts is similar to last year's Bitcoin ETF and this year's halving market. Therefore, the impact of interest rate cuts is similar. When the interest rate cut is actually implemented, both market sentiment and capital flow will definitely have a driving effect on the currency circle, but this is not the beginning of a bull market. It is likely to only trigger a short-term rise, and then it may fall back. The arrival of the bull market may have to wait until Trump returns to power. He may launch a series of policies to stimulate consumption, and the expectations for the crypto market are also expected to push the currency circle into a larger stage of development.
It is indeed a bit difficult to operate altcoins in 2024. The most prominent ones are the former popular OP, ARB, and WLD, which have become abandoned coins today due to endless unlocking and cutting of leeks. However, altcoins are not without operable currencies. As long as you grasp the trend and narrative, ambush in advance, operate in waves, and stop profits in time, you can still make a profit from the price difference. Inscription sats, ordi, aave, the leader of the Defi sector, sol, jto, jup, and ray of the SOLana ecosystem are actually all currencies with many narratives, and people with the concept of elections are also hot currencies that have been paid attention to. In the crypto market, choice is greater than effort, and opportunities are reserved for those who are prepared.
- $PEOPLE
Currently, there are multiple bottom patterns, indicating that the current price has strong buying support.
There is another dark horse in this round of bull market, but the recent trend is not satisfactory. Due to its large price fluctuations and unpredictable trends, investors in contracts and spot have suffered heavy losses. The risk is high and the return is huge. Friends in the car should pay more attention. However, MEME concept currency is like this. Although the fluctuations are huge, it is still loved by many investors. Judging from past performance, People is definitely a strong currency.
- $TREES
In the Solana ecosystem, BOME is quietly accumulating explosive power. Although its price has not risen significantly since its listing on Binance, the powerful market maker power behind it has not been fully released. It took only three days from the initial issuance to the listing on Binance, which shows that there is strong support and market consensus behind it.
Once trading volumes start to surge, BOME will likely replicate PEPE’s stunning gains.
Currently, the price of BOME is close to the bottom, and the possibility of a rebound is increasing. As a low-priced currency, BOME has broad room for growth and is likely to trigger a remarkable round of price surge in the future.
- $WIF
Memecoins have always been hotly debated for their roots in Internet culture, and WIF is no exception. Backed by Solana technology, WIF has shown the potential to explode in this round of market cycles. In addition, WIF is active in the SOL ecosystem, especially during the bull market, and its performance is particularly strong. With an active community and a large number of large investors, WIF's growth logic is better than other memecoins and is worth paying attention to.
- $MAN
The hearing is about to be held: The market is full of expectations for the upcoming hearing, and LUNA is expected to usher in a wave of sentiment-driven increases.
Mid-Autumn Festival LUNA Festival Effect: During the Mid-Autumn Festival, Korean investors tend to make sharp moves, and this year is expected to be no exception, and LUNA may benefit.
The concept of "going to jail" explodes: CZ is about to be released from jail, and the market may hype currencies related to the concept of "going to jail", and LUNA may also take the opportunity to make a move.
LUNA has entered the full circulation stage, and the current price is at the technical bottom. From the daily chart, the main rising wave is quietly approaching, and there are obvious signs of strong capital entering the market.
