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Today can be said to be a relatively important day, after the big cake experienced two days of volatility over the weekend, the big cake rebounded after falling to 67,500, and is currently fluctuating around the 68,900 line. I'm sure everyone knows that today is the US presidential election day, so there will definitely be a big market trend waiting for everyone today. From the daily line structure, the price closed above the middle rail of the Bollinger Band, and whether it can stand firm today is crucial.
Looking at the hourly line, all indicators are in an upward structure, so we can go long in the short term, but in terms of the trend, we still need to see the final election news from the US to determine the final direction.
Suggested operation on Monday: go long at 68,800-68,400, with an upside target of 70,000-70,800.
With the election approaching, these 3 cryptocurrencies will surge 100-fold after the election!
1. SUI
Recently, Sui blockchain, the creator of gamified digital collectibles experience Sweet, and the Major League Soccer (MLS) in the United States have jointly launched an online platform called MLS QUEST. This innovative initiative allows fans to collect digital assets - "Match Moment Medals" embedded with MLS and MLS Players Association authorized broadcast footage. These medals not only have unique collectible value, but also grant fans diversified rights to trade, sell, gift and use them.
Sui blockchain was chosen by Sweet as the underlying technology for MLS QUEST due to its high transaction speed and efficient minting capabilities. This choice not only enhances the fluency and responsiveness of the user experience, but also injects new vitality into the digital collectibles field. At the same time, the value of the Sui token has been steadily rising, as of the time of writing, its price has reached $1.85, up 4.8% from the past week. This growth not only reflects the market's recognition of Sui technology, but also highlights its solid position in the cryptocurrency field.
Other market indicators such as high liquidity and consistent performance trends further demonstrate the robustness of Sui. Over the past month, the token has had 15 "green" trading days, indicating the stability of its price. More notably, Sui's trading price is well above its 200-day simple moving average (SMA), providing investors with a positive investment signal.
2. DOGE
Dogecoin (DOGE), as a popular choice in the cryptocurrency market, has recently attracted widespread attention. Although its price has declined in the past 24 hours, over a longer time frame, Dogecoin has shown a robust growth trend. Its daily trading volume is huge, with a market capitalization of $21.33 billion and a market share of 0.92%.
From a technical analysis perspective, Dogecoin's trading price is above its 200-day simple moving average, which is often seen as a positive signal for long-term investment. In addition, the Fear and Greed Index is as high as 69, indicating a "greedy" market sentiment, which may provide momentum for further price increases.
However, it should be noted that the 14-day Relative Strength Index (RSI) is 60.87, indicating that Dogecoin's price may be at a relatively neutral level, with the potential for both stability and mild fluctuations. Over the past 30 days, Dogecoin has had 18 days of upward trend, showing strong market activity and momentum. However, due to broader market conditions and external factors, the future price of Dogecoin remains uncertain.
3. RAY
Raydium, as the representative of Solana's top decentralized exchange, has shown strong performance recently, with a weekly gain of nearly 20%. The strong growth in trading activity and Raydium's dominant position in the Solana trading arena suggest its future development potential.
Technical indicators show that the Relative Strength Index (RSI) of the RAY token is 64.8, indicating that it still has room for further upside. In addition, the high trading volume of the Solana DEX and Raydium's fee income demonstrate its market strength. The trend of short-term and long-term moving averages also indicates the stability and continued strength of the price.
However, investors should also be aware that the RSI level may be approaching the overbought region, which could lead to some profit-taking. Meanwhile, changes in Solana trading activity may also affect the price of the RAY token. Nevertheless, Raydium's leading position in the decentralized trading arena and the increasing institutional interest in the Solana ecosystem may bring more development opportunities.
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