The market will be dominated by a volatile pattern over the weekend. According to the hourly chart analysis, the bottom seems to be gradually moving up, indicating that market sentiment is gradually improving. Based on the current technical indicators and market dynamics, the market is likely to show an upward volatile trend this weekend. Therefore, for coin holders, the main strategy recommendation is to hold coins and wait and see, pay attention to market trends, and wait for clearer market direction signals.
The operation of altcoins is becoming increasingly difficult. New coins listed on Binance have attracted funds on the market, but they have no money-making effect. They are all under the pressure of the daily moving average and continue to fall. If the market corrects as expected, Bitcoin will most likely stabilize between 3.8 and 40,000. At that time, these new coins will have good buying opportunities, and if they rebound, they will exceed the increase of most currencies.
Potential coin analysis:
DONE
Despite skepticism in the altcoin market, FET has seen a price increase of over 8% over the past 24 hours, with trading volume increasing by around 30%.
Meanwhile, the growing interest in the crypto AI space could spark price movement for the FET token, as other tokens in the sector have also seen price movement over the past 24 hours. Overall, the global cryptocurrency market cap reflects the sentiment of the cryptocurrency industry.
The cryptocurrency market cap surged by more than 3% following the sudden surge in BTC prices, but later stabilized at its current $1.66 trillion. In addition, the token’s latest performance stems from its listing in Indonesia. Investors believe that the listing could affect the asset’s price for the rest of the quarter.
Notably, its current price action has led Fetch.ai to recapture a key support level, indicating that bulls may push the price further towards the $1 mark. Also, its chances of making it this far depend on the overall outlook for the cryptocurrency market this quarter. On the other hand, the project team continues to push for more use cases through innovative concepts and partnerships. It has also sponsored major AI-related events and projects. Its community recently opened its doors to attract developers through the DeltaV initiative.
WHAT
Kaspa has caught the attention of industry experts who believe that the price may rise in the future. The experts highlighted technical indicators, predicting a target of $0.40 for KAS based on the logarithmic chart of the Fibonacci tool. In addition, the analysis also pointed out oversold levels, and historically, Kaspa has trended upward from these points. Therefore, this hints at a possible reversal after the recent decline.
Kaspa’s positive price momentum can be attributed to the increase in token adoption, including listings on major exchanges. Likewise, the project has also witnessed collaborations with other projects. Upgrades to the ecosystem have also led to a massive 2,300% increase in the value of KAS this year. Continued growth will be driven by the strong focus on Kaspa’s innovative ecosystem. The impact of the KAS halving, scheduled for August 2024. This mechanism will reduce the supply of the cryptocurrency, which could push prices higher if demand remains stable.
AZERI
The Aleph Zero Foundation launched CTRL+Hack+ZK, a virtual hackathon from January 10 to January 31, 2024. The event aims to foster innovation and collaboration in the blockchain space, with a particular focus on advancing the Aleph Zero blockchain. Additionally, the program includes Rust and Ink! workshops, educational sessions, and direct mentorship from the Aleph Zero core development team and ecosystem partners.
Evaluating Aleph Zero’s performance indicators, the highest recorded price in the last period reached $1.953930. Sentiment analysis indicates that Aleph Zero’s price forecast outlook is optimistic. The Fear and Greed Index score is 72, indicating the presence of “Greedy” sentiment.
At the latest statistics, Aleph Zero has a circulating supply of 266.78 million AZERO tokens. In addition, its annual supply inflation rate is 65.22%, with 105.31 million AZERO tokens created in the past year. Highlights of AZERO include a 99% surge in price last year, outperforming 59% of the top 100 crypto assets. Aleph Zero's price trend has been consistently above the 200-day simple moving average, reflecting a positive market stance. Positive price movements were observed on 15 of the past 30 days, with a frequency of 50% of favorable trading days.
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