2024 Market Summary: The path to a bull market is to hold steady!
Cycle patterns are significant: the life cycle of a market cycle is about four years, precisely passing through peaks and valleys. Looking back at 2016-2017, 2020-2021, and now the upcoming 2024-2025, the market seems to be conducting a 'four-year cycle' ritual. Therefore, holding and patiently waiting, the next bull market will inevitably arrive on time!
Long-term holding is a profit-making tool: especially at the beginning of a bull market when the cycle has just begun, this is the best time for long-term players to position themselves! Avoid frequent trading; the best strategy at the beginning of a bull market is to remain steady and wait for opportunities.
Quality coins will eventually explode: those seemingly 'quiet' quality coins, as long as you hold on to them, will surely have their moment to take off in the future! When the market arrives, it often brings unexpected surprises.
Focus on mainstream coins: most small coins ultimately can't outperform mainstream coins; chasing after spikes is not as good as steadily holding onto 'big coins.' Small coins may have extreme short-term fluctuations, but one might easily get trapped.
The regret of a bull market comes from selling too early, not from missing the buy-in: the most common regret in a bull market is often not 'not buying,' but rather 'selling too early.' Holding on until the end can yield the 'aftershock' dividends of the bull market!
A true bull market often arrives quietly: before a bull market arrives, the market is always silent. When the surrounding sentiment is generally bearish, it may be a sign of the eve of a bull market. Don't be misled by appearances; when calm voices dominate the market, it's time to silently hold on to your chips!
Summary:
Long-term investors are the real winners; never be easily shaken by short-term fluctuations! The market always goes up and down, maintaining a stable mindset is the key to victory. Remember, 'Hold on to your chips tightly and control your impulses,' so you can welcome your own peak moment in the bull market!
The bull market is coming! After the US election, these 3 altcoins are set to soar 10-50 times!
1. SUI
The Sui blockchain recently partnered with digital collectibles pioneer Sweet and Major League Soccer (MLS) to launch MLS QUEST. This online platform allows fans to collect 'key moment medals' from matches, which are digital assets that combine exciting match highlights authorized by MLS and the MLS Players Association. Fans can not only trade, sell, and gift these medals but also fully utilize them by participating in match-related tasks, upgrades, and various rewards.
Choosing Sui as the blockchain foundation for MLS QUEST is mainly due to its excellent transaction speed and efficient minting capability, providing users with a smoother and faster experience. Currently, Sui's token value is $1.85, up 4.8% in the past week.
From other indicators, Sui's position in the market is also solid, with impressive liquidity and consistent performance trends. In the past month, the token has shown resilience, with 15 'green' trading days. Furthermore, Sui's trading price is 217.12% higher than its 200-day simple moving average (SMA) of $0.5837, showing a positive upward trajectory, especially compared to its initial token sale price.
2. DOGE
Dogecoin has recently attracted widespread attention, currently priced at $0.151, with a daily trading volume of $4.35 billion and a market capitalization of approximately $21.33 billion, with a market share of 0.92%. Despite a 6.85% price drop in the past 24 hours, it has risen 3.31% in the past week and increased 34.31% over the past month.
Overall, the market sentiment for Dogecoin shows a bullish trend, with the fear and greed index reaching 69, reflecting a 'greed' sentiment. Additionally, Dogecoin's trading price is 25.60% higher than its 200-day simple moving average, which is often seen as a positive signal for long-term performance. The 14-day relative strength index (RSI) is 60.87, in a neutral range, indicating that Dogecoin's price may remain stable or consolidate sideways.
In the past 30 days, Dogecoin has shown sustained activity, with 18 days of trading showing an increase, accounting for about 60% of the days. This indicates relatively strong market momentum. Although these indicators show positive market trends, the price movements of Dogecoin still face uncertainty due to the overall market environment.
3. RAY
Driven by strong trading activity on Solana's top decentralized exchange, Raydium's RAY token rose nearly 20% this week. Market indicators suggest that this momentum is likely to continue, as Raydium remains a leader in the Solana trading space. Since October 28, the platform has processed a weekly trading volume of $8.9 billion, accounting for 62% of Solana's decentralized exchange activity.
The relative strength index (RSI) of RAY is 64.8, still below the overbought zone, suggesting that there is room for further price increases before encountering resistance. Additionally, recent growth in trading volume highlights Raydium's market strength, with its fee revenue surpassing that of Ethereum last week, and the total trading volume on Solana DEX reaching $14.3 billion.
The price performance of RAY remains stable, with the short-term exponential moving average above the long-term one, and all indicators showing below the market price, indicating potential for continued strength. Current trends suggest that RAY could rise to $3.62, which would be its highest price since 2022. Meanwhile, the initial support level is at $2.94 and the secondary support level is at $2.65, providing downside protection for the price.
As institutional interest in Solana continues to rise, Raydium may benefit from this trend, with market share expected to expand, thereby supporting its token value. The technical outlook remains optimistic, with the relationship between short-term and long-term moving averages indicating strong buying momentum, and currently no signs of a significant slowdown.
Nevertheless, a high RSI may trigger some profit-taking, and a decline in Solana's trading activity could also put pressure on prices. However, Raydium's recent performance reflects the strong interest from institutions in the Solana ecosystem, and its strong position in the decentralized trading market suggests it will continue to lead.
