Crypto Market


1.3.85 position, whether in terms of technical or data, there is buying entering the market, and the inflow of funds is also increasing. BTC has been running below the 4H EMA25. In the past few days, it has been around the 3.95-4.05 range. There are still fluctuations. Take profits frequently and let the range fly.


2. BTC amplitude gradually narrows, pressure is still the same pressure, support is still the same support, continue to trade within the range. The 1h level wedge structure has come out, follow the wedge structure, break through the wedge and the next target is 4.15, break through the rebound 3.95 is the pressure, there are institutions to enter the market, it is above 4.05 to see the strength, otherwise it is weak, continue to fluctuate in the short side.

Pressure 4.15 4.35 Support 3.75 3.55

3. Ethereum was weak, so it only supported around 2160 yesterday. Small levels like 2200 are useless. Don’t go against what the market shows. Look for strong ones when you go long and weak ones when you go short. Human nature is different. Human nature likes strong ones when you go short and weak ones when you go short. It’s greed. Ethereum continues to close with negative lines. Support 2160 2110 2035 Pressure 2250 2300 2350


Stacks (STX)：


Stacks (STX)’s crossover with Bitcoin makes it a promising altcoin. After the SEC’s decision on a Bitcoin ETF, the price of Bitcoin surged and it could surge along with Bitcoin as the cryptocurrency rises. With Bitcoin set to see massive growth in 2024, Stacks is one of the altcoins to watch considering the halving is only a few weeks away.


If you’re wondering what Stacks is, it’s a Bitcoin layer for smart contracts. It uses Bitcoin L1 as a settlement method for decentralized applications (dApps), making it a key player in the cryptocurrency space.


Its huge upside potential makes it a bullish opportunity that you don’t want to miss. According to analysts, its price could reach $10.00 by the end of 2024; therefore, it is a good cryptocurrency to buy.


Optimism（$OP）：


Optimism ($OP) bulls are still finding support amid strong selling pressure since January 12. Over the past few weeks, the price has fallen from a peak of $4.2 to $2.77. Although the RSI is well below 50, the data still shows that it has not yet reached the oversold standard, so there may be a risk of further decline.


So far, $OP seems to have found short-term support around $2.65, pushing the price to rebound slightly to $2.97. However, it is worth noting that if $OP continues to fall in the next few trading days, investors should regard $2.5 as the next stage of strong support or the lower rising trend line. If it rebounds from this area, it has the opportunity to push the price above $4. On the contrary, if it falls below this area, it may drop to around $2.2.


Pyth Network (PYTH):


Pyth Network (PYTH) is a price aggregation oracle that has attracted attention since its launch in November 2023. With a market cap of $540 million, Pyth Network (PYTH) has quickly become a significant player, attracting investor interest with its market insights and expectations for free token distributions.


In the volatile cryptocurrency market, Pyth Network (PYTH) stands out for its unique attributes, with price predictions suggesting potential growth to $2.89 by 2025. However, due to the inherent volatility of cryptocurrencies, these predictions should be treated with caution. The success of Pyth Network (PYTH) is closely tied to the adoption of its data source and the overall development of the crypto-finance sector.


DOT


The Polkadot ecosystem’s latest quarterly update highlights significant growth in network activity and stable transaction fees. With over 1.3 million holders, Polkadot remains a respected network supporting numerous web3 protocols.


On-chain data shows that the network has facilitated more than 30 million transfers, driven by inscriptions and web3 activity. On the other hand, the Polkadot team is preparing to launch multiple upgrades. The upgrade includes trustless bridges, asynchronous support, and on-demand parachains, aiming to meet the growing demand for blockchain services. In addition, these enhancements are designed to increase the functionality of the network and adapt to the changing needs of users.


Immutable X (IMX)：


Immutable X (IMX) is a gaming-focused company operating both a layer 2 (L2) Ethereum blockchain and an upcoming zkEVM blockchain. Immutable X (IMX) is committed to accelerating and reducing in-game transaction costs, challenging the Ethereum mainnet, and the integration of its games into the Epic Games Store marks its growing influence in the core PC gaming market.


Immutable X (IMX) is well-positioned to make a significant impact on cryptocurrency and NFT gaming - its integration with the Epic Games Store and the launch of the Immutable Passport wallet are both positive developments. But for Immutable X (IMX) to truly thrive, it will be crucial to get game creators and gamers on board its platform. Volatility in the crypto market and competition from other gaming blockchains are challenges that Immutable X (IMX) will need to address effectively.