The daily line level saw a single-day increase of more than 4%, but it did not produce a turning point as expected, but instead closed strongly. The current market is no longer suitable for operation, so we will remain on the sidelines for the time being.
The strong mid-term pull-up destroyed the possibility of yesterday's topping. Although prices continued to rise, the volume and price continued to be in a chaotic state. The mid-term sideways time was also much longer than I expected, so I also remained on the sidelines.
Although the short-term bearish implications are strong, it will not be dealt with. The short-term market will continue to remain flat and wait for the large-scale long and short battles to be over.
Pay attention to these meme coins, which may increase your assets by 100 times
Hamster Fight (HMSTR)
The Hamster Kombat memecoin has taken the cryptocurrency market by storm. Notably, the token was airdropped and its valuation has dropped by about 13% since its launch. This indicates an increase in the number of holders among its investors.
Furthermore, the game combines elements of strategy, management, and earning money through play, attracting more players interested in the cryptocurrency space. Players have the opportunity to earn in-game currency and exchange it for tokens, introducing a real-world value aspect.
This feature not only enhances engagement by providing rewards, but also introduces players to the basics of cryptocurrency trading and management in a controlled gaming environment.
Dogwifhat (WIF)
On September 26, 2024, WIF’s largest holder made a big bet, purchasing 894,854 WIF tokens at an average price of $2.24 for $2 million. This significant purchase shows that despite the sharp price increase, the meme coin still has potential.
The disk is currently facing strong resistance near 2.38. Based on the recent performance of meme coins, it may experience price adjustments before further increases.
Based on historical price action, if WIF’s daily close is above 2.38, there is a good chance that the token could surge another 20% to 2.85 in the coming days.
Shiba Inu
The upcoming stablecoin SHI has seen a 220% surge in trading volume and has recently broken above its long-term descending trendline and reached a strong resistance level of $0.000020. If it breaks above this barrier and closes above the $0.0000213 level, SHIB could surge 35% to $0.0000285 and even higher if the market sentiment remains the same.
Bullish On-Chain Indicators
The SHIB long/short ratio is currently at 1.015, indicating that traders’ market sentiment is bullish. Also, its future open interest has surged 39%, which could indicate that bulls are betting on more long positions than short ones.
For reference only, for more exciting content, please refer to the introduction!
