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Little Meow takes you deep into the world of crypto.
Currently, Bitcoin (BTC) is in a consolidation range on the daily level, with MACD having crossed bearish. There is a possibility of further pullback in the short term, although the probability of a significant crash is low. The price is near a key 'lifeline' support, and risks remain. It is recommended to focus on shorting during rebounds. The main resistance level is around $106,800, while the support level is at the $100,000 mark.
On the four-hour level, MACD's golden cross indicates a short-term rebound demand, but trading volume is insufficient, so the rebound height may be limited. The strategy could consider lightly going long near $104,000, with a stop-loss set at $103,000, or shorting near $106,800, with a stop-loss at $107,500. Overall, the market is in a consolidation phase, suitable for high-selling and low-buying, but one must be wary of sudden reversals.
In contrast, Ethereum (ETH) shows a stronger technical performance. The current price is approximately $2521, firmly above the 100-day moving average, having rebounded from the lower channel, indicating market buying support in this area. The 50-day moving average is quickly approaching the 200-day moving average, with a golden cross signal expected to appear within a week, which usually indicates the start of a mid to long-term upward trend.
If ETH can hold steady between $2450 and $2500, a golden cross is almost certain. Key confirmation signals include: increased trading volume, RSI above 50, and a stable close above $2600. Once confirmed, this could serve as a strong catalyst for ETH to reach $3000.
The current market situation is at a critical decision point, with BTC showing a weak trend and ETH nearing a technical breakthrough. Investors should respond cautiously, flexibly adjust strategies, or wait for clearer direction.
$XRP Can it reach $10?
XRP's recent performance is relatively stable, with prices consolidating near the key support level of $2.05 to $2.10, while resistance is between $2.30 and $2.40. A breakthrough could challenge $2.60; if the support is broken, it may drop to the $1.80-1.90 range. In the short term, XRP may continue to trade sideways, lacking significant buying or selling momentum, but long-term potential remains optimistic.
A major positive is that the market capitalization of Ripple's stablecoin RLUSD has risen from $310 million to $450 million since early June, showing strong market interest in this project, which may boost XRP demand and visibility. Analysts point out that XRP is gradually showing bullish signs, and if the momentum continues to strengthen, the long-term target price could reach $7.5 to $10, but it requires strong momentum and a good market environment.
$SHIB Facing the 'add zero' crisis.
Shiba Inu is facing serious downward risks, with the price far below the 50, 100, and 200-day moving averages, around $0.00001195. It has repeatedly attempted to rebound in recent weeks but has failed, indicating a lack of market confidence. The key support of $0.00001231 has been breached, implying that investors and large holders may gradually abandon hopes for a short-term recovery.
Trading volume continues to decline, with no bullish divergence. RSI is close to oversold but lacks buy confirmation, indicating an increased risk of further decline. 'Adding zero' means the price drops below $0.00001000, and if selling pressure continues, this threshold may be breached.
Unless there is a reversal in trading volume or a major positive development, SHIB still has significant downside potential, lacking hype which makes it more vulnerable in a bear market. Investors need to remain vigilant; SHIB may become a cautionary tale rather than a success story.
Something happened again; this time, ZKJ and KOGE crashed, and the Binance Alpha model suffered a heavy blow.
The hottest 'pool flipping' projects on Binance Alpha, ZKJ and KOGE, experienced a coordinated crash: ZKJ plummeted from $2 to $0.29 within two hours, a drop of 85%; KOGE also fell sharply from $57 to $24, touching as low as $8 at one point. Market capitalization evaporated instantly, and liquidity dropped to zero.
This joint crash exposed the potential risks of the Alpha incentive mechanism. Ordinary users suffered the most—those who participated in high-frequency trading to accumulate points were almost completely wiped out: some invested $5000, leaving them with less than $500, suffering losses of over 90%. In the case of ZKJ's 80% plunge, panic sellers averaged a loss of $800, equivalent to the gains from 10 rounds of Alpha airdrops.
It is worth noting that ZKJ had previously remained stable above $2 billion FDV and $20 million liquidity, regarded as a 'points stablecoin.' Now, it seems to be just the calm before the storm.
That's it for this article! If you feel lost in the crypto circle, consider joining me to lay out strategies and harvest from the whales!