Bitcoin rebounded to 65,500 and then began to pull back. The local structure of the four-hour chart also broke. The short-term rebound should come to an end, and there is a certain risk of falling back to around 60,000. Overall, it is highly likely that the retracement to the 120-day moving average has been in place. This wave of pullback should be the second retracement after the bottoming out and rebound. It is not expected to fall to a very low position, that is, around 60,000. In the short term, you can try to place an order at 1,000 US dollars above or below 60,000.
The last bull market took two or three months to pull up after the production cuts, and the next bull market may also take some time to adjust. At present, it is recommended that you remain patient and buy more when the market drops sharply, and buy less when the market drops slightly!
The most promising Altcoin worth watching now:
INJ
Injective is a blockchain dedicated to finance, serving as an open, interoperable first-layer blockchain for the next generation of DeFi applications. Its features include decentralized spot and derivatives exchanges, prediction markets, and lending protocols. INJ stands out for its fully decentralized, MEV-resistant on-chain order book. It supports a variety of financial markets such as spot, perpetual, futures, and options. In addition, it provides advanced inter-chain capabilities and is compatible with Ethereum, IBC-enabled blockchains, and non-EVM chains such as Solana.
Injective recently made headlines by announcing a groundbreaking partnership with AltLayer. Together, they launched a cutting-edge re-collateralization security framework tailored for on-chain inEVM applications. This collaboration enhances the finality of rollups, providing advantages for applications running through the inEVM.
AltLayer’s MACH solution implements re-collateralization-based security measures. It not only protects users from malicious activities but also facilitates transaction recalls.
INJ’s performance indicators show a positive trajectory considering recent developments. INJ is currently selling for $23.61, a massive 251% gain over the past year. INJ is trading 125.78% above its 200-day moving average, showing signs of strength, and its 14-day RSI suggests that it may be overbought. Nonetheless, INJ has been positive for 47% of the past 30 days, with a 30-day volatility of 13%, showing resilience and stability.
SOL
Solana is a blockchain project known for its focus on decentralized finance (DeFi) solutions. It leverages the permissionless nature of blockchain to facilitate the creation of decentralized applications (DApps). Solana stands out for its innovative Proof of History (PoH) consensus, which enhances scalability and usability. Developed by Anatoly Yakovenko, PoH records operations and timestamps, enabling lightning-fast processing times.
This hybrid consensus model combines PoH with Proof of Stake (PoS), ensuring the security of the Solana network. PoS validates the blocks generated by PoH, maintaining the trustless nature of the blockchain. It is no surprise that Solana caters to small traders and institutions, promising low transaction costs and scalability. Its speed and performance are comparable to Ethereum, making it a strong competitor in the smart contract space.
Over the past year, SOL has seen a significant price increase of 614%, demonstrating its extraordinary growth trajectory. It is currently trading at $147, 35.65% above its 200-day simple moving average of $113.68. Despite a 3.39% increase in the last 24 hours, the cryptocurrency’s 14-day RSI is 52.98, indicating the possibility of sideways movement. Its volatility has remained relatively low at 10% over the past 30 days, indicating stability amid market volatility. SOL offers high liquidity with a volume-to-market cap ratio of 0.1056. With a market cap of $69.08B and a 24-hour trading volume of $7.29B, it attracts investors seeking stability and growth in cryptocurrencies.
JUP
Jupiter recently announced an integration with Clone, enabling users to trade non-native assets on the Solana blockchain. Tokens such as DOGE, ARB, and OP can be easily traded with minimal fees without bridging these assets. With Jupiter, users can seamlessly swap between any token and clAsset, enhancing flexibility and accessibility within the platform. This integration simplifies the exchange of various assets, making it more convenient and cost-effective for Jupiter users.
Jupiter specializes in providing critical liquidity infrastructure for the Solana ecosystem. The token has seen a significant price increase amidst a bullish Altcoin market. The token has gained 22.45% over the past week, bringing its market cap to $1.53 billion. Additionally, the price of the JUP token has risen to 34,205.23% of its 200-day Simple Moving Average (SMA). This massive growth reflects the increased interest and trading activity around Jupiter. Investor sentiment remains positive on Jupiter, as evidenced by a Fear & Greed Index reading of 68, indicating greed within the market.
This sentiment is in line with Jupiter’s bullish price prediction, which expects the coin to reach a value of $1.80 or even $2 if the current uptrend continues. Furthermore, the main challenge for Jupiter lies in surpassing a critical resistance level. If the ongoing uptrend is able to break through this resistance level, it could pave the way for further price appreciation.
RNDR
Render has experienced significant growth, with its price surging 345% in the past six months. The token has gained 31.68% in the past week, showing a strong uptrend. Currently, it is trading between $7.84 and $10.96, with a key resistance level expected at $12.04 and support at $5.80. The relative strength index (RSI) is 61.34, highlighting strong buying momentum. If this trend continues, RNDR may try to break through the resistance level and continue to rise.
Sentiment for Render Token remains bullish, as evidenced by a Fear & Greed Index reading of 68 (Greed). RNDR ranks 9th in the Ethereum (ERC20) token space and ranks first in the AI crypto space. Over the past year, Render Token’s price has surged 455%, outperforming 88% of the top 100 crypto assets, including Bitcoin and Ethereum.
The token is trading above its 200-day simple moving average and has shown positive performance in 15 of the past 30 trading days, reflecting 50% of green trading days. Moreover, it is trading close to cycle highs and is considered highly liquid according to its market capitalization.
Analysts predict that Render is expected to maintain its momentum and potentially reach new all-time highs due to strategic expansion and consolidation. The forecast is optimistic, anticipating continued growth driven by smart market strategies, expanding ecosystem utilities, and investor interest in Render's innovative projects.
Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.
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