Market Review
Yesterday, Bitcoin continued to pull back and tested the support below again. It was supported again at around 66,000, and there was a large-volume test. It bottomed out for the second time at the 4-hour level. The double bottom pattern was established, and there was a chance to complete the W pattern. There is a possibility of a rebound today, and short-term intraday trading can be slightly followed. Bitcoin followed BTC in a synchronous pullback and bottomed out again in the 4-hour period. There was strong support at the 3,400 line. It is expected to rebound today. The cottage volatility is large. It is recommended that short-term currencies can be lightly followed to seek short-term gaming.
Today's highlights
BTC 1-hour and 4-hour levels are below healthy levels, but the daily level is normal. The market is affected by the macro environment and fluctuates greatly. A double bottom is formed at the 4-hour level, and there is hope for a rebound. The upper resistance is 68200-68700, and the lower support is 66000-66500. The probability of a rebound today is higher.
ETH 1 hour and 4 small average levels are still below the healthy value, and the daily level is not very healthy either. The 3400 first-line support scenario, a 4-hour double bottom is formed, and it is expected to rebound during the day. The upper resistance during the day is 3580-3630, and the lower support during the day is 3400-3430. The probability of a rebound today is higher.
Yesterday, BTC continued to pull back and touched the 66200 line again to start rebounding. At present, a double bottom pattern has been formed at the 4-hour level. The second bottoming test was tested below, and there was a large-volume test. The 66000 line support is strong and is expected to form a W pattern. Today's rebound is likely to be large. Short-term currencies can consider lightly following up. ETH follows BTC to adjust synchronously and also tests the support twice. Pay attention to the support of 3400 and is expected to rebound within the repair market. The cottage sector follows the mainstream to pull back synchronously, and the volatility is large. Today, you can consider lightly following up high-quality currencies to seek short-term rebound opportunities.
RGB++ has started free casting, and the recent on-chain activity has increased. RGB++ is also a very good new protocol, which has a good effect on the construction of BTC ecology. Continue to pay attention to this sector. The market continues to be sluggish. Wait for the sector to review its popularity before taking action.
The fan currency of the European Cup series has not rebounded significantly. In addition, the European Cup is approaching and the mainstream market is unstable. It is recommended to clear the position and exit.
The rune market has started to pick up recently, and the trading volume has increased. Pay attention to the high-quality currencies in the rune market and wait for the second wash to start buying.
Today's intraday market, BTC's lower support is 66000-66500, upper resistance is 68000-68500, ETH is 3400-3600
3 100x Cryptocurrencies to Buy That Are Expected to Soar by the End of 2024!
1.CHZ
CHZ, the token that powers sports fan engagement platform Socios.com, has also attracted a large number of whale investors. Data shows that major investors holding between 10 million and 100 million CHZ tokens have added 180 million tokens to their portfolios.
Additionally, a whale holding 1 billion Infinity tokens has received 1.44 billion CHZ.
The surge in whale accumulation may have been driven by the upcoming European football tournament, which is expected to boost fan token adoption. As a result, Chiliz’s price has risen 39% in the past month and 25% in the past week. Increased demand and upcoming activity suggest that more gains are in store for CHZ.
So, what does this mean? When whales accumulate coins, it can lead to some serious price action. These altcoins could be about to break out!
2.SUN
Solana (SOL-USD) is a project known for being an alternative to Ethereum (ETH-USD) and is currently doing well in the NFT and DeFi space. This layer 1 cryptocurrency network boasts exceptional transaction speeds, processing over 50,000 transactions per second, while ETH can only process 15-20 transactions per second.
Solana’s mobile cryptocurrency strategy is based on the Saga phone, which aims to attract new users through unique applications and experiences. While progress was slow at first, the meme coin-driven marketing campaign has triggered sales growth. VanEck said that by 2030, a “killer app” could push Solana’s value to more than $3,200.
Most cryptocurrency investors already know that the SEC recently approved one of the first spot-price Ethereum ETFs. Now, many experts are saying that future spot Solana ETF approval could be in the works due to the similar Proof of Stake (PoS) consensus of both projects. This precedent suggests that the SEC’s consideration of Ethereum as a commodity could be bullish for the spot Solana ETF. I think that with this catalyst alone (in addition to organic network growth), Solana could easily be a high-growth cryptocurrency worth buying right now.
3.AVAX
Avalanche (AVAX-USD) supports decentralized applications and smart contracts in a cost-effective manner. The project recently upgraded Durango to adopt the Teleporter platform for seamless blockchain data exchange, driving Avalanche’s AVAX token up 50% in a short period of time.
Avalanche has shown resilience during a turbulent period in the cryptocurrency market. Despite Bitcoin’s drop to around $71,500, Avalanche has stood out in terms of its breakout above its 20-day exponential moving average. As the coin has seen a slight decline recently, many technical experts believe that now is the time to start building a position.
Investors should view Avalanche's subnet infrastructure as a key reason to buy and hold this crypto for the long term. But if the recent technical charts indicate it's time to buy!
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