Today is November 30, 2024, Saturday, and it is also the last trading day of this month. As the monthly line is about to close, it is time for altcoins to perform. Whether they can make up for the rise may be more critical today. Therefore, some currencies and sectors that have not yet made up for the rise are worthy of attention. For example, AR and FIL in the storage sector, and YGG and MAGIC in chain games all have certain opportunities. Of course, there are various opportunities in the market every day, and it is impossible for us to catch them all. One reason is that it is unrealistic, and the other is that everyone’s funds are limited. So don’t try to catch all the sector rotation trends. It is not realistic. Just catch the trends that are within your own cognition and that you can understand!
Recently, Ethereum has been performing quite strongly. Many currencies in the Ethereum series have already doubled from the bottom in this wave. Based on the past trend of Bitcoin breaking historical highs and entering an adjustment phase, Ethereum will also experience a strong period to complete its recovery. Ethereum was weak before, but there are now clear signs of strengthening. Therefore, we need to pay attention to opportunities in Ethereum and its ecosystem. As the saying goes, fortune turns; the previously strong SOL ecosystem is now distinctly overshadowed by Ethereum's strength. During pullbacks, we can focus on Ethereum series tokens like LDO, OP, and then METIS, ZK, STRK, ARB, as well as ENA, AEVO, ETHFI, etc.
Additionally, SSV has also seen a significant surge today. I believe that there is still some room for recovery in this project, so pullbacks can still be a focus for positioning. Secondly, ENS has been surging recently, and there isn't much selling pressure above. Previously, Vitalik Buterin also highly regarded it, so it can also be one of the key currencies to pay attention to!
From the liquidation chart, there is still some support around 96,000 for Bitcoin, while the resistance is near 99,000. Overall fluctuations over the weekend have been limited. If there is a significant drop, one can choose to ambush some currencies that have not yet seen much recovery, aiming for a short-term recovery wave!
Additionally, I think that at this stage, if there is profit in spot trading, it is acceptable to take some profits. After all, Ethereum is currently near the trend line resistance, and Bitcoin is also facing a resistance level of 100,000. My previous opinion still stands that before Bitcoin breaks 100,000, it will continue to test the effectiveness of the 90,000 support level. Therefore, whether it is Bitcoin or Ethereum, for those trading short-term fluctuations, it is possible to sell part of it and retain some funds for lower entry points. Of course, for those who do not want to exert too much effort, it is fine to hold onto their positions with patience. The current mid-to-long-term pattern does not have any issues. Bitcoin breaking 100,000 is just a matter of time, and Ethereum will definitely reach 4,000!
Overall, November is a month with a good profit effect, but many brothers may only just be breaking even at the moment. Although many altcoins have risen several times from the bottom recently, only a few people have truly bought heavily at the bottom. Most people's average cost is actually not low! Therefore, it is still possible to choose strong currencies to position during dips. However, the first phase may have already entered its final stage. I remember last year's market was also divided into two parts: the first part was Ethereum's oscillation upward, and the second part was a straight-line surge, which is also known as the tail-end market. However, the tail-end market is often the most fragrant! The high point of the first phase was when the Bitcoin ETF was approved for trading, followed by a pullback of Bitcoin, and then a straight-line increase. This time, the bottom of this phase should be around the day Trump took office, so there is still plenty of time!
I remember in the last bull market, many currencies had increased by ten times within one or two months at the beginning of the year. With this round of the market having more and more altcoins, though not all of them can run, some quality tokens will definitely emerge. The ENS in the Ethereum system might be one of them. For quality tokens like this that are not configured, if there are opportunities for pullbacks in the future, they can be a focus for positioning!
Additionally, regarding the so-called doomsday vehicle, one is the platform token, and the other is FIL, ETC, and similar ones. Currently, I personally believe that FIL can still be a bet. Some people have been advocating for this project; with enthusiasm and funding, it will rise. Secondly, BNB as a doomsday vehicle has seen some price increase today, but the sustainability is limited. However, it will eventually see a significant recovery, so this currency can also be chosen as one of the targets for regular investment, aiming for a medium to long-term recovery!
Today's article ends here, see you next time!
Investment involves risks, and the above content is for personal sharing only and does not constitute investment advice!
