Bitcoin fell below the support of its 120-day moving average yesterday and fell slightly again today. Subsequently, affected by the positive news about Ethereum, the market rebounded across the board. Ethereum, the Ethereum staking sector and the meme sector all rebounded sharply. The current market weakness is caused by the lack of positive impetus. Only when there is good news will the market react. The next thing that can cause a big stimulus to the market is the launch of Ethereum ETFs, which is expected to happen within a month. Therefore, even if Bitcoin falls below the support of its 120-day moving average, we cannot be overly bearish, because as long as the good news comes out, it will be pulled up instantly. We must continue to maintain confidence and firmly adhere to the strategy of buying low and holding.
There are positive news about Ethereum, so it is particularly strong today. You don’t need to worry about other things. Just remember this: buy Ethereum below 3500 in batches at low prices and hold on firmly!
In terms of altcoins, most altcoins have fallen significantly, and the prices of some altcoins have continuously hit new lows. The trend is still showing a two-tier differentiation, and the profit effect is very poor. It is even more difficult for contract players. From 12 o'clock last night to now, the coins with the highest capital inflow can be paid special attention to. They may take the lead in leading a rebound trend in the future. (Strategy Introduction)
Potential altcoins worth paying attention to now
RNDR
As an important functional token for AI rendering, RNDR has been rising from the bottom, and we have been paying attention to it. The first time we paid attention to it was at $3.7, and the highest price was $13.8. At the top, it fluctuated sideways repeatedly from May to mid-June, for nearly two months. Because the previous structure was a double bottom, we have sufficient reasons to be bullish at the $10 position. Later, it broke through three positions with one negative line, and it must be withdrawn after breaking through $10.
Next, its lowest price drops to the starting point of the double bottom structure, which is 6.6 US dollars. This is a very important key point. It is the key point of the retracement after the breakthrough in February 2024, and it is also the key point of the double bottom. At the same time, the first retracement generally has very strong support. So after retracement to 6.6 US dollars, you can consider entering the market again.
ok
With the entry of giants such as BlackRock, the Ondo project has attracted much attention. The project has close cooperation with Cb, Sol, etc., and has received investment support from Wall Street institutions. Its market maker is the powerful Jump. With solid fundamentals, a founder with a deep background, low market value and good liquidity, it is undoubtedly a bright new star in the market.
WIF
WIF coin is a cryptocurrency based on blockchain technology that aims to provide efficient and secure transactions and smart contract capabilities. Its core goal is to improve network performance and user experience through optimized consensus algorithms and enhanced security protocols. WIF was anonymously launched in December 2023 and was compared to Dogecoin (DOGE), but has no intrinsic utility and its value is entirely speculative. Since its debut, WIF has steadily increased in value, reaching a peak of $4.8 in March 2024, with a market value of nearly $2.2 billion after listing on Binance, and now increasing to $2.6 billion.
WIF is governed by its community of token holders rather than a central authority. A broad and enthusiastic community has been built using its Shiba Inu mascot. Despite having a limited supply of over 998.9 million tokens, WIF has no functional use cases. Developers have no plans to burn tokens or introduce staking rewards, emphasizing that the value of WIF is driven purely by community engagement and speculative interest.
YGG
YGG coin is the first governance token launched by Yearn Finance. Yearn Finance is a protocol that aims to combine smart contracts with automated teller machines (ATMs). It aims to provide users with the opportunity to achieve high returns in the complex DeFi market. YGG coin is issued through the Yearn Genesis Governance (YGG) governance protocol.
YGG token holders can decide on major decisions and development directions of Yearn Finance by participating in governance voting. At the same time, by promoting the development of gamers, artists, and creators, YGG adds value to the so-called metaverse. In addition, YGG also combines cutting-edge technologies such as DeFi (decentralized finance) and NFT (non-fungible tokens), providing investors with a wealth of investment options and strategies.
NOT
Since its birth, NOT coin has attracted a lot of attention with its amazing growth, making this coin always under the close monitoring of the market. While the price has risen slightly, the liquidity of NOT coin has increased significantly. Even in the market downturn, the trading volume has stabilized between 800 million and 1 billion US dollars. After a series of market fluctuations and tests, the price of NOT coin seems to be ready for a new round of growth, and this time the rise is expected to break through the current high.
Despite the current market correction, NOT coin is still one of the most searched tokens, which reflects the positive attitude of traders towards it. Starting from a popular Telegram game, NOT coin quickly became one of the most popular trading tokens. After a long period of suppression and accumulation, the price of NOT coin is expected to explode in the near future, and this explosion may push the price above 0.02.
This one
Ethena offers a "synthetic dollar" with stablecoins backed by Bitcoin and Ethereum instead of using fiat currency USDT. In the current world situation, ENA and its stablecoins may become a savior for many, just like Bitcoin during COVID-19 in 2019. Despite the recent downward trend, Ethena (ENA) may be recovering.
The growth of Ethena's market value is consistent with the trend of other active tokens. This reflects strong investor interest and active network participation. The recent stability and growth of Ethena's market value shows its robustness and indicates a growing investor base. In addition, Ethena is at a low value stage, waiting for the market trend to turn, and its historical performance shows that it has the potential to double its current value.
Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.
