Yesterday's Market Review
Yesterday, BTC rose violently, breaking through with large volume, and easily broke through the 64,000 resistance level, reaching a high of 66,500. At present, the daily level golden cross has been formed, which is a very clear bullish signal. It will continue to be bullish in the future. There is a short-term correction demand during the day, which will not affect the upward trend. Those who do not have a hidden position in the correction stage can follow up and build a hidden position. The weekly level golden cross will go further. When the weekly golden cross is formed, it is a signal that the big bull will start. The second cake rose synchronously with BTC yesterday, breaking through with large volume. Those who have built a hidden position will keep holding it. It will continue to be bullish in the future. The target range of 2800-3000 remains unchanged. SATS can continue to hold, and liquidation can be considered around 50. PEOPLE mid-term holdings can continue to wait, and FTM will keep holding
Intraday market analysis
BTC 1-hour and 4-hour levels have entered the overbought range, and the daily level is above the healthy level. Short positions need to be followed up during the intraday correction. The hidden position is maintained. The expectation of the big cycle has not weakened. The support below is 64800-65300, and the resistance above is 66500-67000.
ETH 1-hour and 4-hour levels have entered the overbought range, and the daily level is above the healthy level. Short positions need to be followed up during the intraday correction, and hidden positions should be maintained. The upper resistance during the day is 2670-2720, and the lower support during the day is 2520-2550
BTC rose violently yesterday, breaking through the 64,000 resistance zone directly, reaching a high of 66,500, with a large volume increase. The gold on the daily axis has formed again. The market will continue to rise in the future. There will be a short-term correction during the day, and the technical repair will not affect the trend. The upward trend remains unchanged. The weekly golden cross will go further. When the weekly golden cross is formed, it is the signal for the start of the bull market. Those who have built a collection should keep holding it, and those who have not built a collection should hurry up and build it. Don't wait, otherwise you will miss the entire bull market. There will be many positive factors such as the general election, interest rate cuts, and FTX capital release. Stay optimistic. The expectation of the big cycle has never changed, and the bull market expectation is still built on
ETH rose synchronously with BTC, breaking through with large volume and reaching above 2600. There will be a short-term correction trend during the day, which will not affect the subsequent rise. The ETH ecosystem continues to recover, and the activity on the chain continues to increase. It is not far from the start of an independent market. Those who have started should keep holding, and those who have not started are advised to follow up. A new round of rising cycle is about to start
The altcoin sector rose synchronously with the mainstream, and most altcoins performed well. SATS continued to be held, and the stock was cleared and exited when it rose to around 50. The mid-term holding can be seen to around 80. PEOPLE mid-term holding will have good expectations before the November election, waiting for the ecosystem to recover.
Fundamental news: None
Level market information:
RGB++ continues to pay attention, but the popularity is not very good recently
The rune market has recovered. Friends who bought DOG before are advised to hold it for the long term.
SOL, SUI, and ETH on-chain coin have been active recently. You can pay more attention to them. There are short-term speculative opportunities.
Intraday mainstream market support and resistance:
Today's intraday market, BTC's lower support is 64700-65300, and the upper resistance is 66500-67000. ETH's lower support is 2520-2550, and the upper resistance is 2670-2720
Today's Greed and Fear Index: 65 (Greed)
3 Best Cryptocurrencies to Invest in: Get Ready for a 100x Bull Run!
1.GRT
The Graph is popular for providing efficient and affordable access to decentralized data. It is known for 99.99% uptime and 24/7 availability. Its system relies on subgraphs, which are APIs that help organize and make blockchain data available to developers and users. The network has more than 100 indexer nodes, has processed 1.23 trillion queries, and supports more than 70,000 projects. The GRT token plays a vital role by incentivizing participants to organize and make data available efficiently.
The Graph (GRT) has seen a significant price increase of around 9% over the past 24 hours with a trading volume of $108.98 million. Additionally, the coin is up 4.82% over the past week and 18% over the past 30 days. The altcoin has been trading in an ascending channel pattern since August, indicating a long-term bullish outlook.
The Moving Average Convergence Divergence (MACD) shows signs of bullish convergence as the red histogram is declining on the 1-day chart. This highlights the growing positive sentiment in the cryptocurrency market for The Graph. Moreover, the Simple Moving Average (SMA) has completed a bullish crossover, providing strong support to the price.
If this bullish momentum persists, The Graph might test its resistance at $0.1980. If the bullish sentiment strengthens, the price might push up to its overhead resistance at $0.2650. However, if the bearish pressure increases, GRT might retest the support trendline of the ascending channel. Failure to sustain at this level could see the price drop to a critical low of $0.1375 in the coming weeks.
2. TREES
The recent surge in BOME price has caught the attention of many investors. It has successfully broken out of the descending triangle pattern that had been stagnating since the beginning. Moreover, it has also broken out of the trend reversal zone between $0.0076 and $0.0080, indicating a strong rise in bullish sentiment. While the price is struggling to confirm a double bottom pattern, it seems likely that a minor correction will occur before the bullish trend continues.
BOME has now broken out of the resistance zone and shows the potential to reclaim the critical range of $0.01124 to $0.01155. However, with the increasing volume, a short-lived drop to $0.0085 is possible. The On Balance Volume (OBV) has rebounded and is steadily climbing, indicating that a breakout of the previous bearish levels may be imminent. Therefore, the price of BOME is expected to remain high for the rest of 2024 and is expected to exceed $0.15 by the end of the year.
With the expected altcoin season around the corner, Book of Meme (BOME) is one of the projects that is expected to benefit. Currently, BOME is trading at $0.009551, up 20.32% in the past 24 hours and 49.58% in the past 30 days. Its RSI is 44, indicating that it is undervalued and buying at the current price may be a good option. If the altcoin season begins, BOME may reach a maximum price of $0.02.
Additionally, BOME has gained more adoption after being added to PengyOS. It has grown by 948.48% over the past year, although it is still not at its all-time high. As Bitcoin ETFs continue to buy more Bitcoin than the mining supply, the potential for gains in other altcoins, especially meme coins, seems promising. With the fourth quarter approaching, now may be a good time to join in order not to miss out.
3.PENDLE
Pendle has introduced a unique way to trade future earnings that has attracted attention in the decentralized finance (DeFi) space. This feature allows users to increase their earnings by interacting with other DeFi platforms through smart contracts. Pendle's system can trade future earnings on a variety of assets, creating more opportunities for yield generation.
The project has seen significant growth recently, thanks to updates to its smart contracts and new partnerships. These developments highlight Pendle’s commitment to improving its platform and expanding its influence in the DeFi ecosystem.
At press time, Pendle’s price is $4.39, up 10.20%. Over the past month, its value has increased by 31.26%, reflecting strong demand. This impressive growth makes it one of the top cryptocurrencies to consider investing in. The Fear & Greed Index, which measures market sentiment, currently stands at 48, indicating that traders are taking a neutral stance.
Some forecasts suggest that Pendle’s share price could reach $12.73 next month. If the current momentum continues, it could rise to $6.31, but an increase in selling pressure could drop the price to $3.16. Despite this potential volatility, Pendle’s overall outlook remains positive, with many expecting continued bullish growth.