Although September may usher in a cycle of interest rate cuts in the United States, the effect of interest rate cuts is not immediate, especially in the context of the global economy still full of uncertainty. Investors may remain cautious and wait and see the actual impact of interest rate cuts on the market. Therefore, the real start of the bull market may be delayed until clearer signs of economic recovery appear. The Altcoin market has performed differently in past cycles. Although bull markets usually drive all crypto assets up, the weak performance and high-risk attributes of Altcoin may make them relatively lagging behind in the early stages of a bull market. Investors may be more inclined to allocate mainstream assets such as Bitcoin first, and then gradually turn to Altcoin after clearer bull market signals appear. September may be more of a warm-up stage for a bull market rather than the starting point of a full-scale bull market. The real bull market may appear after the halving in 2024, when market momentum accumulates to a certain extent and the global macroeconomic environment becomes clearer. (War and recession risks)
Once the bull run begins, these 3 cryptocurrencies will bring 100x excess returns!
BONK
Bonk's trading volume continues to rise, now exceeding the $100 million mark, which indicates that BONK's price may usher in explosive growth. Since mid-July, the price of BONK has been in a downward trend. Optimistic investors expect that if BONK can break through the previous downward trend within this week, its price is expected to rise sharply. If BONK can successfully break through its 50-day and 200-day moving averages, that is, the resistance level near $0.000023, then once it stands above $0.000019, it will pave the way for a rapid rebound to mid-$0.000030. All this is based on BONK's ability to break through its 50-day moving average at the same time. Despite many uncertainties, considering the significant increase in trading volume, the surge in the price of BONK is still worth looking forward to. At present, the price of BONK coin is still in a downward trend, and future trends still need to be closely watched.
W
Wormhole (W) is currently trading between $0.22 and $0.4. Its price has increased by 10.38% over the past week and 10.67% over the past 24 hours. Despite a notable drop over the last month, Wormhole’s price prediction remains bullish. The coin is trading 0.94% below its recent cycle highs but is still 44.50% above its lows. Additionally, it has low volatility, with a volatility of 19% over the past 30 days.
Wormhole’s market cap is $611.68 billion, and its 24-hour trading volume is $38.38 million, a significant increase of 72.05%. The sharp increase in trading volume indicates that investors are increasingly confident in the continued development of Wormhole.
Currently, Wormhole is trading below its 50-day simple moving average (SMA). Despite this, the market sentiment around Wormhole remains positive. Technical analysis shows that while the coin is trading below the critical support level of $0.55, the trading chart hints at a possible rebound. With the expected bull run, the price of Wormhole could reach $1.
FET
The FET token is priced at $0.86, up 8% over the past seven days. Investors are seeing positive on-chain data supporting profits. Notably, the daily volume to profit-loss ratio has reached its highest level since July 27 at 2.4. In addition, the number of large holders or whales of FET coins has also increased significantly.
FET coin is likely to benefit from this positive trend. However, if the market turns bearish, FET could retest the $0.7 level, which was last seen during the drop on August 5. Conversely, retaking the $1 threshold could accelerate its rally towards $1.35.
Fetch.ai (FET) has joined forces with Ocean Protocol and SingularityNET to form the Alliance of Artificial Super Intelligence (ASI), a $7.5 billion project. FET alone has a market cap of $2.2 billion. In the past 24 hours, FET has risen by 9.30%, and has soared by 332.68% in the past year. It is currently trading at $0.9. The nearest resistance level is $1.0663, and the support level is $0.5763. If these levels are broken, FET has the potential for a strong rebound.
It is a hellish bull market, and it is difficult for individuals to catch the trend. Welcome to join the community to tide over the difficulties together, don't be the one who gets cut, and realize the benefits of the bull market. High-quality communication community, share market analysis and operation suggestions. Welcome to chat with me to join us → vx: maliaochibi2, or scan the code below
