After a brief price breakthrough (spike) yesterday for Bitcoin and Ethereum, the market quickly entered a secondary bottom-testing phase, with Bitcoin touching a low of about $94,200 and Ethereum dropping to around $3,510. According to our analysis from yesterday, Ethereum has formed an attractive buying zone around $3,500. For those who previously took profits at lower prices or who have not yet entered the market, as well as participants intending to capitalize on the market speculation arising from Ethereum's upgrades next year, the vicinity of $3,500 is undoubtedly a worthy initial position to build a position. A common feature of bull markets is a rapid decline followed by a slow recovery, with each sharp drop providing a valuable opportunity to add positions. However, the key lies in overcoming human fears and greed, avoiding blindly chasing lower prices, as true 'bottom fishing' is often accomplished by market leaders, and we should enter the market in an orderly manner based on established strategies.
Investing in the cryptocurrency market requires a clear plan and rationally executing that plan, rather than hoping for a quick turnaround through heavy gambling. This approach often backfires; even if one occasionally gains high returns due to luck, it fosters a gambling mentality that could ultimately lead to returning all gains to the market.
During periods of market volatility, one should especially avoid entering highly volatile niche cryptocurrencies (altcoins) and steer clear of high-leverage contract trading. If wanting to participate, it should be limited to relatively stable mainstream coins like Ethereum, SOL, BNB, etc. Once the market trend clarifies and the situation restarts, we will take advantage of the opportunities in niche coins' rebounds. At this stage, the focus should be on defensive strategies, ensuring the safety of funds as the primary task. Only by doing so can one ensure the ability to withstand market fluctuations and welcome subsequent waves of market movements. In short, the survival strategy at this stage is to 'seek stability first, then progress'.
Buying these cryptocurrencies in 2024 could yield a 100% return!
1.TIA
Celestia (TIA), as an innovative modular blockchain network, opens new pathways for the deployment of customized blockchains. It aims to enhance the system's scalability and operational efficiency by overturning traditional blockchain design concepts. Celestia's core competitiveness lies in its functionality as a data availability layer, serving both the aggregation layer and second-layer solutions, significantly enhancing overall performance and adaptability. The network employs data availability sampling technology, ensuring that data remains accessible without imposing any restrictions on execution or settlement layers. This unique design empowers developers to create customized execution and settlement environments, greatly broadening the boundaries of decentralized applications and blockchain application scenarios.
Currently, the token price of Celestia is $6.70, with a trading volume of up to $1.82 billion in the last 24 hours and a market valuation of approximately $2.97 billion. In terms of market share, TIA accounts for 0.08%. Notably, although TIA's price has dropped by 14.28% in the past 24 hours, its trading activity remains very active, as evidenced by a 24-hour trading volume to market cap ratio of 0.6137, indicating good market liquidity.
From the market performance perspective, Celestia has shown a positive performance for half of the past 30 days (15 days), indicating relatively robust performance. More notably, market predictions indicate that the price of TIA could rise significantly by 228.25%, expected to reach $22.35 in January. This optimistic forecast not only reflects the market's positive attitude towards the Celestia project but also suggests its enormous growth potential.
2.WLD
WLD is an innovative project with a core vision to build a globally essential identity verification and financial interconnection network. This project differs significantly from most cryptocurrency projects in its strategy, placing unique emphasis on large-scale token distribution mainly targeting individuals, serving as a means to verify their human identity. This strategy aligns closely with WLD's grand goal of promoting widespread adoption worldwide.
The WLD token not only serves as a means of value storage but also possesses governance functions, granting users the right to participate in decisions regarding the protocol's future development, making it a practical asset. As of now, the price of Worldcoin is $2.69, but it has experienced a significant drop of 21.20% in the past 24 hours. However, from a longer-term perspective, WLD has achieved a growth of 23.32% over the past month, demonstrating strong performance during this period.
The signals conveyed by market indicators appear complex and volatile. WLD has shown an upward trend on 17 trading days in the past 30 days, accounting for 57%, indicating certain upward momentum. Meanwhile, its 24-hour trading volume to market cap ratio is as high as 1.4219, indicating relatively ample liquidity for this cryptocurrency compared to its market cap. However, the 14-day relative strength index (RSI) is at 58.18, reflecting that the market is currently in a neutral state, suggesting that WLD prices may experience range-bound fluctuations in the short term.
Looking ahead, predictive data indicates that by the end of the year, WLD's trading price is expected to fluctuate between $3.01 and $7.68, with an average price potentially reaching $4.79. This prediction range includes optimistic expectations for WLD's future development while also reflecting market uncertainties.
3.SOL
Solana (SOL), currently ranked fifth in the market, has a circulating supply of 2 million tokens, with each token priced at $216.69. Looking back over the past year, SOL's price has surged by 212%, outperforming 78% of the top 100 crypto assets, even exceeding the gains of Bitcoin and Ethereum.
Currently, Solana's market value has reached $103.16 billion, with daily trading volume stabilizing at $9.97 billion, demonstrating strong liquidity and high investor attention. Compared to the 200-day simple moving average (SMA), SOL's price is 27.07% higher, specifically at $170.64, further confirming a sustained upward price trend.
Although the overall market sentiment for Solana is currently neutral, the fear and greed index has given a high score of 78, indicating a prevailing sentiment of 'extreme greed' among investors. Additionally, SOL's trading price is approaching its cycle peak, which not only affirms its strong performance but also reflects the ongoing high demand in the market.
4.ENA
Recently, two major cooperation developments have attracted attention: first, the stablecoin launched in collaboration with BlackRock has officially announced its entry into the MakerDAO competition; second, a deep cooperation has been established with the industry-leading on-chain options trading platform Derivexyz, aiming to build options and structured financial products based on the USDe stablecoin, innovatively developing new financial derivatives by leveraging the liquidity provided by Ethena and the combination characteristics of USDe.
ENA is likely to stand out in this market cycle, becoming a dazzling dark horse. Given the current bull market lacks breakthrough concepts, ENA cleverly utilizes arbitrage positions in the market, attracts traditional capital, and accurately captures the strong demand for stable returns during the bull market, undoubtedly making it the focal point of market attention. Its unique positioning and strategy may make ENA the most prominent presence in this bull market.
5.ADA
Although Cardano (ADA) has dropped nearly 10% in the past day, and about 19% over the week, today’s trading price is set at $1.01; its monthly increase is still remarkable, exceeding 70%. Notably, in the past 24 hours, ADA's trading volume surged by 101%, reaching $3.7 billion, reflecting the dual increase in ADA's trading activity and investor enthusiasm.
Cardano's solid fundamentals and its increasingly widespread adoption indicate that the current short-term pullback may provide a once-in-a-lifetime entry opportunity for long-term investors. Despite the recent unfortunate hacking incident involving the Cardano Foundation's social media accounts, the team's swift and effective response has successfully maintained investor confidence.
If ADA can successfully hold its key price support level, its future price potential is immense, possibly climbing to as high as $4 to $6. For investors looking at medium to long-term investment opportunities, Cardano's robust network upgrade plan and the increasing application scenarios make it a highly attractive buy during the current market adjustment.
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