The market on Sunday night was like a tightly compressed spring suddenly springing open, as Bitcoin's price fluctuations became particularly small (even calmer than at the end of February and mid-March). Later, the market began to rise, attempting to break through the previous high point of 88,700, but got stuck around 88,500, and then slowly dropped back to around 87,000. As of this morning, Bitcoin is still hovering around 87,000, neither quickly falling below support nor managing to break through.
This situation is very similar to the market movement after March 24, when it also surged to the 87-88 range on a Monday, followed by a sideways consolidation for a full five days. By Friday, it suddenly broke below, later dropping to around 81,000 before quickly rebounding back to 88,500, then continuing to decline. Although it did not create a new high, the price fluctuations significantly increased.
I estimate that it may be similar to the last situation, using a jumpy method to bring market volatility back. This means that the possibility of a direct one-sided surge is not high, as the overall macroeconomic situation does not support such a trend. As for the possibility of a one-sided crash, since Bitcoin did not immediately drop back to the previous range to form a false breakout, this probability is also slowly decreasing.
Next, there will be a period of consolidation. By early May, there may be another drop before the real rebound begins in mid to late May, which aligns with the speculation of interest rate cuts starting in May, followed by actual cuts in June, and a series of positive news being released starting in May.
1.W
Wormhole (W) has rapidly gained popularity in the cryptocurrency space with its new blockchain communication method. The project allows different blockchains to communicate with each other, making it easier for users and developers to access functions from multiple chains. This feature is a significant step forward in decentralization and opens up space for better cross-chain applications.
What sets Wormhole apart is that it changes the way blockchains connect. Experts have noticed this, and the project may play an important role in the future of the cryptocurrency space. The team behind it is continuously improving, which may further enhance the value of Wormhole tokens.
In terms of price, Wormhole is showing strong momentum. In just the past 24 hours, its price has risen by 11.84%, reaching $0.08192. Over the past week, its performance has also been quite good, increasing by 10.13%. Although there was a slight decline over the past month (down 4.09%), the lower price may provide new investors with an opportunity to buy before significant market fluctuations occur.
If the momentum continues, Wormhole may challenge its key resistance levels of $0.2801 and $0.3168. Breaking through these resistance levels could attract more buyers and enhance confidence in the project's future.
With optimistic expectations, Wormhole may become the next explosive growth cryptocurrency. Its advanced features, growing use cases, and strong technical capabilities suggest that as long as it continues to develop and address future challenges, it could become a leader in blockchain interoperability.
2.ENJ
Enjin Coin (ENJ) is part of a larger ecosystem built by Enjin, which focuses on blockchain-based gaming. One of its main products is the Enjin Network. Users can create gaming communities, websites, and virtual item online stores on this platform. ENJ is an ERC-20 token that supports this system, allowing users to buy, sell, and trade digital assets with real-world value.
A new feature called Efinity has introduced a staking function, allowing users to earn rewards (EFI) simply by holding ENJ. Additionally, NFTs stored in wallets are automatically staked, meaning users can earn without any action required. This makes the Enjin platform more attractive to both gamers and developers. ENJ-backed digital goods also have real value, are transparent and scarce, and can be easily used or traded, adding another layer of utility to the ecosystem.
Through this approach, Enjin Coin is helping developers bring blockchain technology into the gaming sector. It not only provides them with the tools to create high-value gaming assets but also helps companies maintain player interest and profit from the games.
From the data, ENJ is once again eye-catching. Its fully diluted market cap is approximately $208.36 million, with a daily trading volume of about $481 million. In the past 24 hours, the token surged over 67%, and in the past week, it increased by 69.25%, currently priced at approximately $0.1103.
The mission of Enjin Coin is to bring blockchain gaming into the mainstream. With its strong price volatility and rich features, Enjin Coin is showing robust growth momentum. It is expected to play an important role in the future of GameFi and Web3 gaming.
3.EOS
EOS has not had a smooth few years. Although it was once prominent in the blockchain world, it has lagged in Web3 gaming, NFTs, and new token issuances. Its activity on many major exchanges has helped it maintain competitiveness. However, due to low trading activity, some platforms later delisted EOS. Due to low usage, Tether also ended its support for USDT based on EOS.
However, the recent rebranding has injected new vitality into the project. EOS's current stock price is $0.6464. Over the past 30 days, its price has risen by 17.86%, with an increase of 3.68% over the past week and 2.26% in the last 24 hours. The listing of EOS on top exchanges like Binance and OKX has also allowed it to benefit from this new attention.
People are increasingly looking forward to the EOS network becoming active again soon. The platform operates using a RAM market, and the recent surge in RAM demand has increased its value to $15.6 million. This may indicate that more people are starting to reuse the network, potentially further driving up the price of EOS tokens.
EOS remains one of the most well-funded cryptocurrency projects. Its one-year token sale raised $4.2 billion in ETH, along with an additional $60 million from venture capital firms.