Good news, guys, Ethereum is standing up!
Yesterday, the price surged by more than 300 points, an increase of more than 10%. The cryptocurrency world is a magical place. One second, everyone was still wondering that Bitcoin was about to break 60,000, and the second bitcoin was still around 3,000. The next second, it soared, and a big green column directly broke through the range of this week's fluctuations and reached more than 3,300. Bitcoin also took the lead as always, and rose directly by 5%.
Looking back now, the price of Bitcoin broke through 99,000 at 3 a.m., and it seems that there is almost no suspense about breaking 100,000 this month. As for the second one, I said yesterday that I would enter it decisively below 3,000. The lowest point yesterday was 3,029, and the result was this big green column.
Let's talk about today's BTC market: From the K-line, the 1-hour level is a bit sideways and weak, the 4-hour level is bullish, the 12-hour level is bullish, and the daily line is also bullish. Today's pressure level is 100,000, and the support level is 95,700 US dollars. Pay attention!!! Today's fear and greed index is 94.
Let me share with you my latest views on Ethereum:
First of all, the Ethereum ETF pledge issue mentioned earlier, if it can be passed, it will definitely be a good thing for ETH.
Secondly, the second one is still the king of all chains. It represents the technological application of the entire currency circle. The big one (Bitcoin) is the cornerstone of the industry. As long as Bitcoin stabilizes, the currency circle will not collapse, and the role of the second one is to expand territory.
Again, a temporary failure does not mean that it will never fail. After a period of silence, it may become a blockbuster, especially when the big cake is stable at a high level. The second one responded to the scolding voices in the market with a big green pillar.
Summary of the four major sectors of Ethereum-related altcoins
1.ETH Layer2
Projects in this category include ARB, OP, ZK, STRK, METIS, MANTA, CELO.MNT, MATIC, IMX, SKL, LRC, CTSI, BOBA, COMBO, MODE, etc.
Their mission is to help the Ethereum ecosystem prosper by providing high TPS (transaction processing speed) and low GAS fees.
As the key to ETH's vision of "global computer", the importance of Layer2 is unquestionable, and it is also the area with the highest market value in the entire ETH ecosystem. However, many projects have been criticized as representatives of institutional coins with "low circulation and high FDV". For example, ARB, OP, and STRK, the FDV of these three popular projects has exceeded 10 billion US dollars, and they are called three of the "Four Heavenly Kings of Layer2".
2.ETH staking and re-staking (LSD)
Representative projects include LDO, SSV, PRL, SD, FXS, ANKR, ETHEI, and REZ.
The LSD protocol (liquidity staking) is a staking service that emerged after ETH switched from POW to POS. LDO (Lido) is currently the largest staking service provider, with the highest TVL (total locked volume) in the world and a circulating market value of $2 billion. SSV is an important infrastructure in this field.
3.ETH’s old DeFi
Mainly including UNI, SUSHI, AAVE, COMP, CRV, MKR, and LOTY.
DeFi was the core innovation sector of the last bull market, and its applications have been integrated into all aspects of the chain. However, as the market matures, this cycle focuses more on upgrading existing products, and the degree of innovation is relatively limited.
4.ETH Meme Coin
Representative projects include PEPE, SHIB, and SPX.
Meme coin has performed particularly strongly in this round of bull market and is one of the important sectors that has attracted market attention.
These sectors basically cover the mainstream tracks of the Ethereum ecosystem, and each has its own unique value and market position.
Other coins worth watching
FLOKI: FLOKI has been gaining popularity recently because it was listed on Coinbase. If Coinbase does list this coin, the price will likely rise significantly.
PNUT: PNUT has the support of Musk concept and the topic of Trump's election, which has attracted the attention of many investors. Although there may be some fluctuations in the short term, as long as the timing is right, PNUT still has great hype potential.
LINK: As a representative oracle in the blockchain field, LINK has many application scenarios. Its role in the blockchain is as important as the Internet is to computers, so in the long run, LINK's development space is very worth looking forward to.
The following are some possible directions the market may take:
First, the currencies on the Meme track, such as Pnut, Act, Ban, etc., were popular on CEX before, but now they have experienced the first wave of correction. When these currencies have adjusted and the market pays attention to them again, there should be a rebound. Now this bull market is mainly led by Meme, so Meme-related opportunities should still be paid attention to.
In addition to Meme, leading currencies in the DeFi field, such as Uni, Aave, LDO, Eigen, or public chain-type Sui, Apt, Aavx, ICP, etc., are all high-quality projects worthy of attention. Other sectors still need to be observed slowly.
Bitcoin is about to break through $100,000. If it breaks through and stabilizes, the altcoin season will completely explode. So what you can do now is to hold the coins in your hands and wait for the rise.
From a historical perspective, when Bitcoin goes sideways after rising to a certain extent, it is usually the best time for the cryptocurrency market:
1. Bitcoin adjusted sideways (about 10%), and funds began to flow into altcoins, with coins with larger market capitalization taking the lead, and then the water flowed step by step.
Currently we see that old-line currencies such as ETH and BNB have begun to make some moves.
2. Bitcoin will plunge sharply (20%), then go up 10%, go sideways, or rise steadily, and altcoins will also start violently.
3. In a bull market, identify several different tracks of altcoins, sell those that rise the most, buy those that fall the most, and avoid reverse operations.
I have always emphasized that once a trend is formed, it is very difficult to change:
As for Bitcoin, I have said before that there is no need for a correction below $100,000, and it is not worth a correction. Therefore, when it breaks through $100,000 or even $120,000-150,000, there may be motivation for a correction, and then you can think about how to keep your profits.
This is why I never short. Shorting a trending coin is basically just touching the top, which is equivalent to buying the bottom on the left side. The cost performance is low, so I choose short-term operations and don’t rush to short. If the trend is broken, it also needs to be done gradually, not all at once.
This is the bull market, don't doubt it, have confidence in the coins you buy. If you don't have confidence in yourself, why buy it?
Therefore, if you are optimistic about altcoins, you should gradually start to build positions now, and increase your positions when there is a pullback. If you do not build positions now, you will not have the opportunity to build positions when FOMO comes in, and you will be like the buyer at the top of March.
Hold on firmly, and everyone will earn the wealth they deserve. If you hold high-quality and strong currencies, you will earn more, that's all.
