As the cryptocurrency market fluctuates, we are once again witnessing a correction in Bitcoin. This correction could be part of a complex market pattern or it could mark the beginning of a new phase. If Bitcoin can strongly break through the key point of about $67,720, it may mean the end of the current correction phase.
In terms of investment strategy, mid-term investors should adopt a steady swing trading strategy. We should look for more certain trading opportunities and avoid emotional fluctuations and imbalances caused by excessive participation in short-term trading. For example, when the price fluctuates between $3,000 and $4,000, buy and sell at the right time to ensure stable returns.
The current market situation is confusing, and the volatility of Bitcoin has put pressure on investors. At the same time, the prosperity of the US stock market is in sharp contrast to the pessimism in the cryptocurrency circle. The continuous volatility of Bitcoin has caused long stop losses to be triggered frequently, and the decline of many altcoins has generally exceeded 30%.
4 Cryptocurrencies That Will Gain 100 Times in the Second Half of the Year!
1.DOT
Polkadot has been in the spotlight for its DeFi initiative, Hydration, which has received 2 million DOT tokens, worth $14.4 million, to enhance the liquidity and trading capabilities of its Omnipool platform. The first distribution of 1 million DOTs will be made next year, aiming to enhance liquidity and provide liquidity providers (LPs) with an APY reward of more than 200%. Hydration adopts a novel one-sided LP model that allows contributors to provide an asset while being rewarded with a variety of assets, including stablecoins.
The remaining tokens will expand the Hydration Omnipool’s native liquidity pool, supporting the vast Polkadot 2.0 ecosystem. This decentralized, non-custodial strategy enriches the platform’s liquidity and demonstrates Hydration’s proactive approach to leveraging the Polkadot framework.
2.WIF
DogWifHat (WIF) is currently trading at $1.93, down $2.56 from its high of $4.49 on March 30. Despite the low price, the token is still showing positive momentum, up 2% in the past 24 hours. Despite these encouraging signs, some analysts predict that the token could face a downturn and could fall to $1.80.
Investors are watching the price of DogWifHat (WIF) closely in anticipation of a breakout. The recent trend in its price suggests a rebound is possible, but caution remains critical amid the expected market volatility. As DogWifHat adjusts to these changes, its community remains optimistic about its future achievements.
3.JASMY
Over the past 24 hours, JasmyCoin’s price has dropped 5% to trade at $0.027, while trading volume has dropped 18% to $166.9 million.
While this was exciting news for the project and its token holders, JASMY’s price only saw a brief surge before correcting 13% on a weekly basis.
Currently, the token’s price seems to have found strong and stable support at $0.025, although it does not seem to have the strength to bounce back. Even so, a strong rise in the market as a whole could turn things around for JASMY.
The price of JasmyCoin has dropped significantly between June 17 and today. However, sharp pullbacks are usually followed by new upticks as prices bounce back, especially during bullish periods.
While the price of JASMY could rise in the hours and even days ahead, several technical indicators suggest that any recovery, if any, is likely to be fairly mild.
With the RSI so close to overbought territory and the price barely reacting to this performance, it is reasonable to assume that JASMY should see a rapid rise in the short term. For JASMY, this could mean that the coin will remain between the $0.030 support level and the $0.033 resistance level, although this could still change due to underlying fundamental factors.
4. SHIB
Shiba Inu (SHIB) experienced a sharp decline and fell below the critical threshold of $0.00002. Despite such a sharp decline, the situation remains precarious as market bulls still have the ability to initiate a potential buyback.
Key price levels such as $0.000019, $0.000022, and $0.000023 are now critical, with each of these levels acting as either support or resistance. Ability to sustain above $0.000017 in the near term will be crucial; failure to do so could exacerbate selling pressure given its historical importance as a support level.
However, the market remains optimistic, especially if the price can recover to $0.000022 and $0.000023. Such a recovery could revive the bullish sentiment and could attract fresh buying interest, potentially changing the current downtrend.
Shiba Inu’s price volatility is often heightened by its strong social media presence and active community, highlighting the impact that changing sentiment can have on market dynamics. In addition, the broader cryptocurrency landscape remains an important factor, influencing Shiba Inu’s short- and long-term performance.
Looking ahead, according to the analysis, ShibaCoin is expected to fall by approximately 5.19% by July 20, 2024. This forecast reflects the general bearish sentiment and is consistent with the Fear & Greed Index, which indicates a moderate level of greed at 60. The future prospects of the project depend on maintaining community engagement and promoting innovation to ensure long-term growth in the ever-changing cryptocurrency landscape.
