In this round of cryptocurrency market, many investors, having missed the earlier rise, are hesitant to enter at the current price level and have chosen to short instead. Many hope for a repeat of the '519' crash, unwilling to take profits even with a brief price drop, instead waiting for a larger decline. However, market trends are volatile, and the continuous oscillation makes it difficult for short sellers to achieve their goals. Even if they predict the direction correctly, it's hard to lock in profits.
If Bitcoin's current trend fails to achieve an effective breakout in the next few weeks and maintains its existing oscillating pattern, it is likely to enter a sideways consolidation that could last for three to five weeks. However, this is not entirely negative; horizontal oscillation can be viewed as a power accumulation process. If it can hold key support levels, it will build momentum for future rises.
In contrast, Ethereum's previous large bullish candle has released positive signals, and investors who followed up in time have gained rebound profits. From market performance, funds are gradually shifting from Bitcoin to Ethereum and other altcoins, forming a clear sector rotation phenomenon. When Bitcoin's price falls, altcoins often rebound, indicating a rise in the risk appetite of funds. However, market confidence has not fully recovered, and most investors remain cautious or operate with light positions. This sentiment is easily exploited by the main forces for wash trading, and a new round of upward movement will only begin after investors' patience runs out.
Investors who seized the bottom-buying opportunity in early April currently have a relatively favorable holding cost. Ethereum may continue its oscillating trend to digest the previous trapped positions and test market confidence. Without significant positive catalysts, the market remains in a consolidation phase, and in extreme cases, prices may retrace to the technical support level around $2100. Therefore, it is advised that investors holding altcoins maintain their composure, while those without positions should patiently wait for a retracement opportunity to avoid the risk of chasing highs.
6 major cryptocurrencies are about to explode 100 times in the future! Bottom-hunting in the bull market comes first!
SXT
SXT has recently shown breakthrough signals, having long been in a state of oscillation with limited gains. The current price is 0.158u, making it worth attempting to go long to capture potential retracement momentum. Once it starts to rise, it is expected to refresh historical highs. Its fundamental advantages are significant, being Microsoft's exclusive investment project in the crypto field, and its technical solutions have been integrated into Google BigQuery, gaining recognition from industry giants.
From a valuation perspective, SXT's fully diluted valuation (FDV) is only $600 million, suggesting potential undervaluation. With its hardcore technology and undervalued status, as market sentiment warms up, SXT has strong price explosion potential and deserves investor attention.
FLOKI
Recently, Floki Inu has performed impressively, with a monthly increase of nearly 98%, and last week alone it surged by 42.1%, leading to strong bullish sentiment in the market. Its collaboration with companies like Rice Robotics for the X Spaces initiative has garnered widespread attention, further enhancing the credibility of the Floki ecosystem.
This token balances speculative value and long-term investment attributes with features like the Valhalla Metaverse and FlokiFi DeFi. Floki Inu has significant liquidity advantages, listed on 81 exchanges, making it easy for investors to participate. However, further development requires more practical applications to support its current popularity. As a long-term holder, I remain optimistic about its growth potential.
ENA
As an algorithmic stablecoin, ENA's investment logic is highly dual-faceted: during bull market uptrends, if operated correctly, this coin can become a high-yield tool, with annual returns potentially reaching several tens of percent, similar to the hundreds of times rise of Luna; however, when the market enters a downtrend, ENA might trigger a death spiral, leading to risks of a bank run and sharp declines. Therefore, choosing to invest in or avoid ENA hinges on precise judgments about market trends. If you firmly believe in the continuation of the bull market, allocating some ENA can be a strategy.
LTC
From the market capitalization chart of Litecoin, its potential target market cap could reach $7.9 billion. As a frequent participant in the cryptocurrency market bull cycle, Litecoin's main upward wave may not have started yet. If significant positive news triggers, it is possible for its market cap to triple and return to historical highs. With the well-known positioning of 'Bitcoin Gold, Litecoin Silver,' Litecoin has ample market topics and speculative potential.
vine
Vine, as a meme coin listed on BN Perp, currently has moderate liquidity with a market cap of about $68 million. This coin exhibits significant wash trading characteristics, often clearing contract positions using downward pinning strategies. Additionally, Vine plans to upgrade to Xine, presenting a possibility for a fresh restart. If key positive news materializes, its price is expected to triple.
cheems
Cheems is currently priced at 0.0018, showing impressive technical performance. If the BNB Chain (BSC) aims to cultivate a meme coin with a market value of $1 billion, Cheems is highly competitive. In the past few months, while most meme coins fell by 90%, it has formed a triangle convergence pattern, poised to break out after the BSC market picks up, indicating strong concentration of chips in the hands of large holders and steadfast investors.
With its endearing puppy image, Cheems frequently appears in short video dubbing animations, becoming one of the well-known crypto IPs among Generation Z. As the BNB Chain ecosystem develops steadily, and with its listing on the Binance spot trading platform, its chip collection has become more convenient, and its future growth potential is worth monitoring.
