The Federal Reserve's decision early this morning met expectations, but there are no significant benefits to the crypto market. The market continues to fluctuate, with the dot plot predicting two rate cuts this year, and the market's reaction has been tepid. Current capital is sluggish, and if the market rises again, it presents a good shorting opportunity. The trading volume is expected to remain low in the next two months, making shorting at high levels more optimal.
Today's hot project opportunities
1. The SOL staking track Fragmetric sold out NFTs last night within seconds, exceeding market heat expectations.
2. CampNetwork will mint NFTs tonight, with a solid foundation, WL 0.01ETH, public 0.02ETH, worth paying attention to.
3. The meme coin $GOR on the SOL chain has a market cap exceeding 7 million and has received interaction from TOLY, likely to continue being favored by the community.
4. The narrative of stablecoins has low participation from retail investors; SOL chain USDP plummeted after reaching a market cap of 150 million, while Base chain $JPMD has a market cap of about 2 million and has been strongly promoted by KOLs, which can be focused on.
5. Upbit lists $RAY, and Bithumb lists $HUMA and $FORT Korean won trading pairs.
6. Binance has added TRUMP, S, PNUT, VIRTUAL, and SSV as flexible interest rate loan assets, while HOME and RESOLV are VIP loan assets.
BTC
From the daily level, Bitcoin has formed a doji at the bottom, suggesting a possible further decline, but it has not yet broken below the previous low around 103000 or the lower boundary of the converging triangle, indicating temporary effective support. On a smaller scale, there are signs of bottom construction at the 4-hour level, and if it can break through 105641, the rebound may continue. The 4-hour MACD shows potential top divergence, but if a golden cross is formed, the rebound momentum may increase.
The key resistance level is at 106793, which is the opening price of the previous day and the neckline of the head and shoulders pattern. If broken, it may push up to the upper boundary of the converging triangle.
ETH
Last night, the Federal Reserve's interest rate decision met expectations, and ETH's price continued to fluctuate around 2500 points. The impact of news has faded, and the market's subsequent trend depends on capital choices. ETH's two-hour K-line repeatedly tested the 2480 support level but was pulled back, indicating strong support below.
As long as it does not fall below 2480, short-term bulls dominate. Long positions can be entered in the 2480-2500 range, with upper targets of 2550-2570. After reaching these targets, one can consider shorting.
Altcoins
The listing of stablecoins will significantly impact the DeFi, metaverse, and NFT markets, so close attention to subsequent developments is needed.
UNI
Recent trends are unusual, seemingly taking small-scale actions under the wind of stablecoins.
MANA
Trading volume has increased compared to before, but there are no obvious accumulation patterns, indicating insufficient preparation for subsequent speculation.
PENGU
Currently in a bottom rebound phase, whether it can turn into a sustained rise depends on subsequent trends. If it directly falls back to the starting point, the market may slow down; if there is no significant decline and it reverses upwards, it is expected to enter a main rising stage.
AXS
The trend is similar to the metaverse sector, reflecting the overall trend of the current NFT sector, but the market focus is not on AXS, but on PENGU, a key piece of information mentioned only once.
On-chain
$GOR
After washing the market, the group entered at a bottom of 800,000 calls, reaching a high of 14 million, an 18x increase. When public, the market cap was 2.5 million, having risen more than 5 times from the bottom.
The narrative is extremely strong; join me in digging out the highest quality projects in the quietest market. Not sitting idle for 1 month, not sitting idle for 1 day.
$EGL1
$EGL1 performed outstandingly in the USD1 trading competition, ranking first in trading volume, market cap, liquidity pools, and heat. Its 'American Spirit' narrative is highly favored by the World Liberty Financial (WLFI) team, and both founders have followed its Twitter.
Today, CEME announced a partnership with $EGL1, aiming to push the market cap to 1 million USD. The positive news for $EGL1 includes potential listing on Binance Alpha and purchases by the WLFI Foundation, making the future promising.
