BTC is currently consolidating at 58,000. It started to go sideways last night, which is actually a good thing, as it shows that the long and short sides are in a relatively balanced situation. When I woke up, many altcoins took advantage of Bitcoin's rest and actually rose by several points!
If BTC can continue to consolidate, it will be very beneficial to the performance of subsequent altcoins. Next, we can pay attention to the trend of BTC. It does not need to soar or surge. As long as it can stabilize at 57,000, it will be a very good trend!
The current Bitcoin market is characterized by high-level shocks and consolidation, and there is a risk of short-term correction, but the overall trend is still bullish. In terms of operation, it is recommended that you be cautious about chasing high prices, and do a good job of position management and risk control. You can wait for a short-term correction to the support level before making a long layout. If the price is weak, you can consider shorting at a high level.
Calculated from the high point in March, the Bitcoin market has experienced a correction of nearly six months. During this process, the market value of most altcoins has fallen to the bottom. At present, the proportion of large and retail investors who are still holding positions who can cut their losses in the event of another sharp drop has hit a new low.
Some altcoins have begun to quietly pull up their prices, which seems to mean that the adjustment wave that began in March may be coming to an end.
The copycat market is unique! Several coins with 10x potential are worth paying attention to!
RATS
From the daily level, it is very obvious that the price of this coin is fluctuating in a low triangle area. The upper edge of the triangle area is the pressure line, and the lower edge is the support line. As the price fluctuates up and down, it gets closer to the inner corner of the triangle area, and the closer the price is to the inner corner, the greater the possibility of a change in the market.
There are two possible trends: one is that the price breaks through the pressure line and then falls back, and then starts to rise sharply; the other is that the price continues to fall back to the support line below and then starts to rise. Regardless of which trend it is, this coin is showing a trend of an upcoming surge, so everyone can pay attention to it!
GHOST
Aave has not only benefited from the overall market recovery, but also has strong fundamentals to support it. Aave DAO has proposed to incorporate Coinbase's new Bitcoin wrapper cbBTC into its v3 protocol, a move that will increase liquidity and participation in the DeFi ecosystem. In addition, Aave also announced that the Ether.fi market deployment has been completed and plans to launch Ethena's v3 market soon. These developments will help enhance Aave's influence in the DeFi field, thereby driving its price up.
Aave is currently trading around $150, with a recent gain of more than 10%. If the market continues to recover, Aave has the potential to gain more room for growth, especially against the backdrop of Bitcoin’s continued rebound.
SUN
Solana is an open source project dedicated to providing DeFi solutions with the help of blockchain technology. It hopes to achieve this vision by building decentralized applications. It combines its unique Proof of History (PoH) consensus mechanism with the more familiar Proof of Stake (PoS) model to solve the problem.
The PoH system enables the network to efficiently sort transactions, increasing throughput while ensuring security. According to Artemis data, Solana recently reached an important milestone, with 5.4 million daily active addresses. This metric is critical because it measures how many unique users interact with the blockchain every day.
As of today, Solana is priced at $134.58, up 1.88% in the past 24 hours. Over the past week, the price has increased by 0.62%. While these numbers are positive in the short term, the price growth has not been fully matched by the surge in network activity. However, SOL’s high liquidity, coupled with its market capitalization, reflects the strong interest of traders and investors.
PEOPLE
Currently, it has shown a multiple bottom pattern, which means that there is strong buying support at the current price. In this round of bull market, it is very likely to become a dark horse. Before the election results are settled, there are many opportunities, which are worth seizing and the returns are considerable.
Friends who are already holding the token should pay more attention. However, the tokens with the MEME concept are like this. Despite the large fluctuations, they are still loved by many investors. Judging from past performance, People is definitely a strong token!
WIF
WIF is another hot project in 2024. It is a dog-themed meme coin based on Solana, inheriting the fun and community spirit of memecoin. Although such coins are more volatile, they provide people with a new way to participate in Internet culture, and many people are looking forward to WIF's performance in the future.
WIF belongs to the SOL ecosystem. It is the most active in large trading platforms every time the market comes, and its activity even exceeds that of bome. From the perspective of strong logic alone, the increase of wif looks more impressive. There are many large households in the community and the main funds are also sufficient.
TREES
In the Solana ecosystem, BOME is quietly accumulating the energy to become a hit. Although its price has not risen significantly since its listing on Binance, the powerful market maker behind it has not yet been fully exerted. It took only three days from the initial issuance to listing on the Binance platform, which shows that it has strong support and a high degree of market consensus behind it.
If the trading volume starts to increase significantly, BOME is very likely to replicate the amazing increase of PEPE. The current price of BOME is close to the bottom, and the possibility of a rebound is getting bigger day by day. As a currency in a low market, BOME has a lot of room for growth, and it is very likely to set off a round of eye-catching price increases in the future.
