The crypto today is completely different from what it used to be. In the past, during bull markets, you could easily make several times your initial investment by simply buying any coin. This was mainly because there weren't any new things to speculate on, and the prevalence of low-quality on-chain meme projects drained liquidity. There were also numerous Crypto honeypot schemes and a flood of projects leading to massive sell-offs after token unlocks. Now, replicating that kind of get-rich-quick experience is probably only a dream come true.
In the past 24 hours, a total of 94,070 people across the network have had their positions liquidated, with a total liquidation amount of $197 million. Long positions were liquidated for $93.9461 million, and short positions were liquidated for $103 million.
BTC
Bitcoin recently attempted to break through the downtrend line and even managed to do so. This has led to much discussion about whether it's a genuine breakout or a false breakout. The key is whether the price can hold above the trend line. It failed to break through earlier this morning, and although it successfully attempted to break through again in the early morning, it still needs time to confirm the validity of this breakout.
Today's strategy: Pay attention to the 88000 level. If it retraces but doesn't break this level, the resistance levels are around 89430, 90580, and 91510. If it retraces and breaks below 88000 today, the market will begin to weaken, with support levels around 87175, 86370, and 85270.
ETH
Ethereum's price movement is largely in sync with Bitcoin, which remains the dominant force. Ethereum's current structure is relatively clear; with solid support below and unlikely to fall further, if it can successfully break above 2993, it could then challenge the 3078 area.
Today's strategy: Pay attention to the 2940 level. If it retraces but doesn't break this level, the resistance levels are around 2993, 3035, and 3078. If it retraces and breaks below 2940 today, the market will begin to weaken, with support levels around 2915, 2888, and 2850.
Copycat
Currently, Altcoin in the crypto can be mainly divided into three categories:
The first category consists of high-quality projects, mainly public chains and infrastructure, such as ETH, LINK, and XRP, which have performed strongly in each bull market.
The second type is pure scam projects, which only have a white paper. Once listed, they reach their peak, and the project team dumps the shares and runs away. There are many such cases on B-shares.
The third category is the most numerous. While they appear to have products in operation, their fundamental nature is misaligned: retail investors see them as investment products, while project teams view users as paying customers. The tokens lack a deflationary mechanism; retail investors hope for price pumps, while project teams want impressive usage data.
This is precisely the most absurd aspect of Web3: a low-intelligence game where both sides sabotage each other. Project teams rely on small-scale retail investors while pretending to work hard on their products, ultimately failing to achieve significant success and failing to make money themselves, leaving them only with self-congratulation. Retail investors, on the other hand, abandon high-quality infrastructure and invest in such projects, almost inevitably losing money.
If Web3 relies on its current low-quality projects and dubious investment, its future is hopeless. The real hope lies in waiting for the smart money and talent from Web2 to enter the market, combined with AI to drive a rational bull market. At a time when traditional internet pathways are facing difficulties, this group is seeking a commercial breakthrough for Web3, and its future remains promising.
The SOL chain has been incredibly active lately, but BSC has been as quiet as a stagnant pool!
I've said it countless times before: when playing on-chain meme, don't fixate on one chain. Go wherever there's liquidity and be your casino there. Recently, the launch rate of new SOL projects has skyrocketed, leaving BSC far behind. Although the ATH cap isn't high ($LAUNCHR, $AGENT, $COLLA, etc., are mostly 500,000-1,000,000), at least there's something to play in the first stage, and the resurrection rate in the second stage is also high.
Older stocks like $snowball experienced a sharp V-shaped decline to over 2 million, but $liquid remained stable at over 1 million. The leading stocks took turns leading the market, maintaining market enthusiasm and making it much more comfortable to play.
In contrast, BSC is practically stagnant, with almost no new projects launching and existing ones remaining completely unchanged. Even the Binance Alpha airdrop has stalled, making it incredibly boring. Crypto trading is all about liquidity; don't let a single chain lead you to ruin! However, the overall environment is still a bear market, and even the most ambitious projects will have their limits.
Core principle: If you're going to play, choose the hottest ones, take your profits when you can, and run away when you've made some money. Don't believe in any on-chain meme!
$LIGHT
LIGHT's price movement is similar to my previous analysis; it's started to fall again! Once a coin like this shows a sharp drop followed by a dramatic fall, it basically indicates the end of its life cycle. It will either be delisted by the platform or experience a prolonged period of sideways trading due to liquidity depletion.
$2Z
The recent performance of 2Z has been good. The only drawback is that it hasn't been able to generate sustained high volume in this market. Without volume, the entry threshold cannot be met. We will observe further and wait for it to strengthen further before taking action.
$PIEVERSE
I bought PIEVERSE at 0.45. This coin is likely to have great potential. The fact that it hasn't fallen below this level is a clear sign of major players supporting the price. The outlook is good, and it's ready to take off.
$MMT
MMT has already risen and is trending upwards in a volatile manner. It could surge at any time. There hasn't been a strong upward push yet. A stop-loss order was previously placed at 0.19, and now you can set the stop-loss price near your cost basis. After setting it, just hold patiently and wait for the breakout. Waiting for it to be on the top gainers list!
