Yesterday's Market Review
Yesterday, BTC continued to rise after a slight correction. In the evening, the Federal Reserve cut interest rates by 50 BP, and BTC reached 62,500, which was in line with yesterday's expectations. Today, it continues to be bullish, with a target range of 63,500-64,000. The U.S. stock market will open after 9:30 p.m., so pay attention to defense. You need to reduce your holdings before 9:30 p.m. and wait for the U.S. stock market to stabilize before opening before making any moves. The two cakes rose synchronously with BTC, and are expected to continue to rise during the day. You can operate synchronously with BTC. SATS can continue to be held, and you can consider clearing your positions around 50. PEOPLE can continue to wait for mid-term holdings.
Intraday market analysis
BTC 1-hour and 4-hour levels are above healthy levels, and the daily level has returned to a healthy level. It is expected to continue to rise during the day. It can be lightly followed up but needs to be reduced before 9:30 pm. There is a need for consolidation after the interest rate cut, and caution is still required. The expectation of the big cycle has not weakened. The support below is 60800-61300, and the resistance above is 63500-64000.
ETH 1-hour and 4-hour levels are above the healthy level, and the daily level is below the healthy level. Pay attention to the trend of BTC. The current trend is still not strong, but it is expected to rise synchronously with BTC. However, we still need to pay attention to the correction after the opening of the US stock market. The upper resistance of the day is 2480-2530, and the lower support of the day is 2330-2360.
BTC continued to rise after a slight correction yesterday. The Federal Reserve cut interest rates by 50BP. BTC rose to 62,500 in response and encountered resistance and made slight adjustments, which was in line with expectations. I believe that the handsome guy’s friends have made some money this time. There are many bears in the market, and not many are firmly bullish. We can continue to be optimistic during the day. BTC is expected to hit the 63,500-64,000 range and continue to be bullish, but we need to pay attention to defense at night. Yesterday’s closing of the U.S. stock market was not ideal. Currently, it is a unilateral market in the currency circle. We still need to pay attention to the opening of the U.S. stock market in the evening. It is possible to pull the currency circle down. Before 9:30 p.m., whether it reaches the target range of 63,500 or not, it is recommended to partially reduce the holdings and make defensive actions. If it stabilizes, you can enter the market again. There may be slight adjustments after the positive impact of the interest rate cut, but the probability of another sharp drop is not large, so there is no need to worry too much. The expectations for the big cycle have never changed, and the bull market expectations are still based on
ETH rises synchronously with BTC, but is still weak overall. The ETH ecosystem is still sluggish, the chain is not active, and the net inflow and outflow of ETFs are not ideal. Pay attention to the breakthrough of BTC during the day. It is expected to continue to rise with BTC. If you hold on, it is expected to reach the 2480-2530 range. Pay attention to reducing your holdings at night. The downturn will not continue, and a new round of rising cycle is not far away.
The altcoin sector rose synchronously with the mainstream. SATS will continue to be held. If it rises to around 50, it will be cleared and exited. The medium-term holding can be seen to around 80. PEOPLE will have good expectations before the November election. CKB will continue to be held after reducing its holdings and wait for the ecological outbreak. PIZZA has a lot of callbacks. The expectations after FB went online are not ideal. It is recommended to clear the position and exit the market when it rebounds to around 4. The altcoins will remain unchanged for long-term holdings. Short-term and medium-term holdings can consider partial reduction in the evening. If the US stock market does not see a significant decline at the opening, the medium-term deployment can be considered. The handsome guy will recommend some altcoins worth buying in the Weibo live broadcast
The price of FB has dropped after the launch of the mainnet. We will wait and see for the ecosystem to develop.
Fundamental news: Fundamental information after the interest rate cut still needs to be closely watched
-Level Market Information:
Continue to pay attention to RGB++. SEAL has recently adjusted. Wait for more positive news from RGB++. You can consider buying it in batches later.
The rune market is still sluggish, wait and see
Fractal Bitcoin mainnet has been launched. Pay attention to the support and resistance of mainstream coins in other ecological sectors:
Today's intraday market, BTC's lower support is 60800-61300, and the upper resistance is 63500-64000. ETH's lower support is 2320-2350, and the upper resistance is 2480-2530.
3 types of mountain coins that you can buy at the bottom before the bull market starts!
1. ETHFI
In the field of decentralized finance (DeFi), ether.fi is increasingly playing a key role as a leading non-custodial staking solution. Its innovative mechanism allows users to earn returns through staking while maintaining full control over their crypto assets. This non-custodial nature is very attractive to users who are seeking high returns in the current market environment but do not want to trust their assets to a third party.
Over the past month, ether.fi’s weETH/eETH has become the most talked-about liquid recollateralized token (LRT) on the market, attracting significant inflows, with net inflows reaching $252 million. Meanwhile, bridging protocols and user accounts such as EOAs and Safes also witnessed significant capital inflows, at $52 million and $39 million respectively, further demonstrating the market’s confidence in the platform.
Looking ahead, if ether.fi can maintain this strong inflow trend, the ETHFI token is likely to rebound from current levels. Once the price breaks through the key level of 1.67, the token is expected to start a strong upward trend, indicating a possible 3-6x increase. For users of the Ethereum staking market, the re-staking function provided by ether.fi will become a core tool to unlock liquidity and improve asset utilization.
As the DeFi market continues to develop, ether.fi may become a force that cannot be ignored in the Ethereum ecosystem in the future with its innovative staking solutions and strong market performance.
2. AWAY
Terra Classic (LUNC) is the earliest token of the Terra blockchain and has attracted much attention for its innovative stablecoin system. By pegging its stablecoin to real-world fiat currencies, Terra aims to reduce the volatility inherent in cryptocurrencies and provide a more stable global payment solution.
The split of the Terra blockchain in 2022 resulted in the creation of Terra (LUNA) and Terra Classic (LUNC). This split is similar to the split of Ethereum into Ethereum (ETH) and Ethereum Classic (ETC) in 2017. Despite the transformation, LUNC remains an important part of the Terra ecosystem, continuing to support efficient transactions and stable payment functions.
LUNC's stability and efficient transaction processing capabilities make it a strong choice for investors seeking long-term value and stability. With the expected further growth of the crypto market in 2024, LUNC is likely to attract more attention, especially in the field of global payment solutions. Its similar divisive background to Ethereum Classic and its innovative potential make Terra Classic likely to occupy an important position in the future altcoin market.
If Terra Classic can continue to advance its promise of stability and innovation, it is expected to play a key role in the next altcoin bull run and become a star project in the eyes of investors.
3.TON
Toncoin is a high-profile token in the cryptocurrency space. Its close integration with Telegram and its powerful ecosystem give Toncoin unique advantages. Especially after the Durov incident, Toncoin has attracted more investors' attention and has become the focus of market attention.
Currently trading at around $5.7, Toncoin is expected to continue its bullish run by the end of 2024. The market predicts that the coin may surge to $19.54 and stabilize around $15 thereafter. This means that Toncoin may present short-term profit opportunities for investors, especially if the market remains optimistic about its prospects.
As the Telegram community continues to grow and the application scenarios of Toncoin expand, the performance of this token may exceed expectations in the future. For investors, Toncoin is a project worthy of attention and evaluation, which has both short-term profit opportunities and may become a highlight of long-term investment.
