The cryptocurrency world is about to face a storm! Are you ready?
The market expects a rate cut at the meeting on November 8, and the election results will be announced on November 6, which seems to be a welcome gift to the new president. In the next month, the cryptocurrency market may experience several rounds of sharp declines, and the market will enter a state of ups and downs in the monkey market. In this process, the bullets in the hands of contract players will be harvested by pins back and forth, and the blood chips in the hands of retail investors will also be taken away. During this period, a lot of pessimistic and crashing information will be released to create panic. But remember that the monkey market is the final proving ground for altcoins. You can judge the trend of a certain altcoin when the real bull market comes by observing the performance of a certain altcoin in the monkey market. Most altcoins have limited gains in the bull market, and only a very small number of altcoins can really have a big increase.
The cryptocurrency market is volatile, so be cautious when investing. Before the storm comes, we must be fully prepared to meet the challenges. Which altcoins do you think will stand out in the future bull market?
Potential altcoins worth paying attention to now
LDO
LDO has been rising since September but has yet to break the $8 mark. The price has been falling since the second week of January 2023. The fact that LDO’s price has not yet reached the last swing high since early 2024 suggests that bears are still in control.
In the first 12 days of April, the price of Lido DAO fell by about 50% to a low of $1.5. Since April, the price of LDO has remained stable at the $2 mark.
In mid-May, the price fell below $2, but buyers were able to recover the lost ground, grabbing the available liquidity. Within ten days after the sellers got caught in the trap, the price received 70% of the buying pressure. Looking at the technical indicators, the LDO price failed to break above the key moving averages, showing a bearish forecast. The RSI produced a golden cross with the RSI-based moving averages, but failed again. Overall, the technical indicators favor the bearish momentum.
Is there potential for LDO prices to rise in the future?
LDO is one of the strongest performing tokens in the past 7 days. The Lido DAO token is fully diluted and has a relatively small market cap. On the 4-hour timeframe, the price has bounced off the $1.80 support level and appears to be turning into a trend reversal.
At the time of writing, Lido DAO is trading at $2.3, up 5.11% intraday. The market cap is $1.74 billion, with a 24-hour trading volume of $233.31 million. The fully diluted market cap is $1.95 billion.
If the Lido DAO price reverses from the $1.85 level and moves above the 20-day EMA, it is likely to create new lows. If the price rises towards the $3 mark, buyers are likely to quickly show interest towards the $4 mark.
FTM
Fantom token price has been bullish since early 2024 and has extended to a 52-week high of $1.20. Buyers failed to hold the highs and profit booking occurred. The price has fallen by 50% in 3 weeks and has fallen to the 200-day EMA.
Buyers held on to the 200-day EMA from early 2024 to mid-June. Selling pressure remained strong over the past 2 days and the price declined below the 200-day EMA.
At the time of writing, the FTM cryptocurrency price is $0.55, with an intraday decline of 11.50%. The market cap is $1.8 billion, with a 24-hour trading volume of $243.1 million. The circulating supply is 2.8 billion FTM, and the total supply is 3.17 billion FTM.
On the daily chart, FTM price has fallen below the main support at $0.630. The recent cryptocurrency trend is bearish, which has affected the price of Fantom.
If the FTM price rebounds off the $0.500 barrier and the volume supports it, the price could set new highs.
Is it a good idea to buy Fantom Crypto at a low price?
The current FTM market cap is $1.8 billion, with a 24-hour trading volume of $243.1 million, 2.8 billion FTM in circulation, and a total supply of 3.17 billion FTM. Fantom's price may rebound, so buying it at a low price may be a good option. Due to its image in the cryptocurrency market, the losses today and next month may not have a long-term impact on it.
TO US
The Ethereum Name Service (ENS) is a decentralized, open naming system on the Ethereum blockchain that maps human-readable names (such as "alice.eth") to Ethereum addresses, content hashes, and metadata. Launched in May 2017 by Nick Johnson and Alex Van de Sande, ENS simplifies interacting with Ethereum, supporting address mapping, decentralized content, metadata storage, and subdomain creation.
Ethereum Name Service Crypto has huge liquidity according to its market cap as its trading volume accounts for 23% of its market cap. Moreover, the value of the token’s trading volume is $166.639 Million. ENS also has a high supply inflation rate of 10.01% and its market cap accounts for 0.03%. Analysts believe that the sentiment towards ENS is further bullish.
ENS cryptocurrency technical analysis
The formation of a sustained higher high swing can be seen on the daily chart of the ENS cryptocurrency.
From the recent swing low of $10.36, the ENS cryptocurrency price started seeing buying which resulted in a 180% surge in the trading price. Subsequently, profit taking entered the market which resulted in a 25% decline. The ENS price is holding above the recently formed swing low while finding support.
If the price of ENS breaks further above the recent swing high of $27.00, the follow-through momentum could propel the price further higher.
The MACD further gave a neutral signal on the chart as its indicator traded in the positive territory but formed a bearish crossover. The RSI has broken above the 14-day SMA and is sustaining above the 50 level, which suggests a strengthening trend in the ENS price.
