After the market rebounded to 71,000 US dollars, the bulls began to gradually weaken. Currently, the market has begun to fluctuate around 70,000 US dollars. The short-term market is rising and falling, and it is in an intermediate position. There is pressure in the short-term at this position, and there is support below, so it may not surge. The sharp drop should also digest the selling pressure near the previous high through adjustment. As long as Bitcoin adjusts to a high level, it is very likely that small coins will have the opportunity to secretly develop. In the near future, everyone should pay more attention to sector rotation, and the focus can be to choose a strong sector layout. That’s it.
Recently, the overall performance of the meme sector is still very strong. wif, shib, and Slerf have all seen increases to varying degrees. Currently, the most popular projects in the meme sector are bome, slerf, and wif.
I personally think that Meme coins will become an indispensable part of the cryptocurrency world, because Meme coins play an important role in attracting new users in the currency circle and expanding the awareness of cryptocurrency, so this track may be overtaken by retail investors in the bull market. and capital taking turns to speculate.
However, it should be noted that the risk of investing in meme coins is very high, and the fluctuations will be very large. It is recommended to only focus on the top meme coin projects, such as pepe, doge and other projects that were often mentioned to everyone years ago. And you must strictly control your positions. The position invested in meme coins should not exceed 20% of your total position. Large positions should still be placed in Bitcoin, Ethereum or other altcoins with higher certainty. Never put the cart before the horse. Of course, if you cannot accept the violent fluctuations of meme coins, it is recommended not to participate in such projects.
In addition, this week we need to focus on Thursday's GDP and Friday's PCE inflation data, both of which reflect the economy and the necessity and urgency of interest rate cuts. One is the inflation data that the Fed is most concerned about. The current core PCE has dropped to 2.8%. Whether it can continue to drop closer to the target inflation of 2% is the basis for making a decision to cut interest rates. However, recently many veteran US officials have continued to suppress expectations of interest rate cuts. This year, the chairman of the voting committee of the Atlanta Fed has reduced the number of expected interest rate cuts this year from three to one. Of course, CME's forecast data has not changed much. The probability of a rate cut in May is very small, only about 8%, and the probability of a rate cut in June is 70%.
The recent trend of ethfi mentioned in our article yesterday is obviously stronger than other currencies in the ETH sector. As the first currency to be listed on the re-staking track, it has attracted much attention. With unremitting efforts, Eigenlayer will definitely perform better in the future. As If you pledge to the leader again, tvl will reach tens of billions. If you do any activities after the launch, you will probably go crazy. This coin has been performing relatively strongly since its launch, but no one knows where it will settle in the future. Based on past experience, I personally think it will be between 7.3 and 7.6. interval.
In addition to the relatively strong performance of the meme sector recently, the public chain sector has also begun to rise in rotation, with relatively good performances such as sui and aptos. Old leeks in public chain projects should all know that although many public chain ecosystems are relatively slow to develop, once the development of the ecosystem catches up with hot spots, the profits are still considerable. Today, Brother Feng recommends several public chain tracks that can be used in the long term. If you hold it, everyone should control their positions by themselves.
The first recommendation is ICP. I believe many veteran leeks in the currency circle know ICP’s previous gimmicks. It is also a relatively long-standing public chain project. The current ecological development is still good, and the recent trend of the public chain track is also relatively strong. At present, the daily level has been exceeded. In the long term, you can wait for a wave of resistance near 15 to 17 US dollars. In the long term, the expected target of holding until the bull market can reach more than 60 US dollars.
The second thing I would like to recommend to you is ada, an old public chain currency. The banker behind it is still very strong. ada has also overcome obstacles all the way. The performance of the last bull market was also quite eye-catching. Judging from the current trend, the upward channel is also on the way. Trying to break through, if given the opportunity to continue to step back, it is also a good ambush position. Aggressive players can also enter a position first at the current price, and the long-term target can be placed above 1.3 US dollars.
The last thing I want to talk about is waves. The recent trend of this currency is still very good. The daily line is also accelerating its rise. After the peaking signal appears, it starts to step back. The selling pressure above has been almost exhausted. The V-shaped trend goes up and breaks through the previous high. The probability is still very high. You can buy a little bit of the spot to get close to you. The long-term goal is to see more than 8 US dollars.
Let me recommend these to you today. The market has been relatively good recently and there are many opportunities. Brothers who like to play spot can consider finding Brother Feng to seize the bull market together!
at last:
In general, the market as a whole is in a sucking trend, and projects such as Sui and Aptos in the public chain sector, as well as Wif and Slerf in the Meme sector, have seen rising prices. The market has now entered the mid-term stage of the bull market. It has now passed the early incubation period and detection period and entered the following period.
At this stage, more and more investors begin to enter the market and funds begin to pour in, but the final frenzy period has not yet been reached. Usually during the mania period, the price of Bitcoin rises rapidly. Relatives and friends around you begin to discuss Bitcoin, uncles and aunts begin to enter the market, and market FOMO reaches its peak.
But at present, the market is obviously not at this stage yet, and many people have not yet jumped on board this bull market. What we need to do now is to find ways to hoard more spot goods, and don’t get off the bus easily, so that we can reap the dividends of this round of industry growth!
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