Market trend:

The market rebounded. Local dogs flew everywhere. Grayscale continued to ship BTC, US stocks fell, and the US dollar index rose strongly. The Federal Reserve guided to cut interest rates three times this year, while the market expected six cuts before.

Market hot spots:

Football fan coins CHZ, Santos, Lazio, etc. have surged, and the European Cup in June is hyped in advance. CHZ is a jump market maker and will launch a new token economy. Historically, CHZ's trend has been less affected by the market, and it often rises against the trend when the market falls.

Pendle and Blur, which are pledged by ETH, have soared. Blast has launched its testnet. BN's new Launchpool project Manta is about to be launched. The market is chasing Renzo, which is on the same track.

The meme troll, smiley, and zuzalu have all soared, all of which have soared hundreds of times in a week. Rumor has it that it is driven by Chinese funds, looking for Musk, Vitalik and other logically zeroed old coins to speculate, the main features are the starting market value of 10wu, the project owner ran away, and the chips are evenly distributed.

JUP of Sol Ecosystem will be airdropped on January 31. JUP is currently the largest dex on Sol.

Potential coin analysis:

Xai Price Breaks $1, What Happens Next?

Xai, a token recently launched on Binance, the leading cryptocurrency exchange by trading volume, gained 8% on Tuesday and is trading at $1 at the time of writing.

On Monday, XAI’s first breakout began after it reclaimed territory above the 20 exponential moving average (EMA) and the 50 EMA on the hourly chart. This development provided a glimmer of hope, and traders jumped on the opportunity, sending XIA soaring to $1.2.

After the pullback, XAI is fluctuating between the 50 EMA (red) support and the 20 EMA (blue) resistance. A breakout on either side of this range could result in the next breakout to $1.2 and above or $0.8 and below.

The MACD currently maintains a bearish outlook, giving a sell signal. Bulls must act quickly to curb the bearish scenario and prevent the momentum below $1. Altcoin Sherpa suggests a suitable entry point is $0.9. Therefore, dips could be profitable.

BLUR

The outlook for the cryptocurrency market is relatively stable, and Blur is in line with this trend, suggesting a potential bullish trajectory. Therefore, holders are strengthening their positions at the current market price. This move is expected to gain positive momentum once the Bitcoin price correction subsides.

Recently, there has been a large number of Blur token transfers from the unlocking contract. Since June 15, 2023, a large portion of the total Blur token supply has been unlocked and transferred to Coinbase Prime. Of this, approximately 17.8%, or 534 million tokens, have been transferred.

Buyers are leading the market as sustained buying pressure reinforces bullish sentiment. As the market sees a correction in Bitcoin, investors are optimistic about Blur’s medium- to long-term price outlook.

BE

SEI has shown great promise, with its share price soaring more than 1,500% since its inception. In addition, Sei positions itself as the fastest trading platform, ensuring that trades are completed quickly within 380 milliseconds.

Looking at recent data, Sei is being sold between $0.6978 and $0.8086. This confirms the uptrend as Sei is trading above its 10-day moving average of $0.7036 and its 100-day moving average of $0.5846. Nonetheless, key support levels are $0.5822 and $0.4714, while resistance levels are $0.9242 and $1.1506. Sei’s future market trajectory is also worth considering. The growing interest in decentralized exchanges and the latest blockchain technology has attracted increasing attention.

Despite being in a correction since late December, Chainlink (LINK) has shown impressive growth over the past month. Analysts see a strong demand area for LINK between $14.8 and $15.2. With limited resistance, Chainlink (LINK) is well positioned for a potential growth towards $20.

Chainlink (LINK) price is facing key resistance levels at $15.55, $16.69, and $16.92. Overcoming these levels could pave the way for $20. However, if the price corrects, Chainlink (LINK) is missing a significant support wall with the first support at around $14.22 and further support at $13.31 and $11.

The future direction of Chainlink (LINK) price is balanced between bullish momentum and potential selling pressure. A sustained bullish trend could take Chainlink (LINK) to $20, but price corrections could test lower support levels. Growth in the Chainlink (LINK) ecosystem across key metrics including market cap and revenue contributes to the optimistic outlook, although recent earnings declines suggest caution.

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