Important News on January 22:
- Yesterday, the net inflow of the US spot Ethereum ETF was $74.4 million.
- Twelve states in the US are actively promoting strategic Bitcoin reserve legislation.
- Report: As institutional adoption rises, Bitcoin is no longer a niche investment.
- AI sector concept coins surged, with ARC rising over 43% in 24 hours.
- Coinbase CEO: If legally required, Coinbase will delist USDT.
Conveying the way of trading, enjoying a wise life.
How to choose cryptocurrencies will be a very critical factor in whether we can profit. If the coin selection is poor, we may miss out on more market opportunities or significant profit margins. So today, let's talk about the issue of coin selection.
In fact, the Trump family's DeFi project WLFI has helped us select high-quality categories. So what are these categories? Today, we will focus on this. If you don't want to miss more content, please follow Binance Exchange's No. 7 Crypto Academy.
As the presidential selected token of the Trump family, which tokens has he purchased recently? As the presidential selected token, his total holding amount has reached $220 million, and he is currently still in a loss position, because some of the coins he bought may still be below his cost price.
The first is WBTC, with a holding amount of only $48 million, and it is currently still in a loss state.
The second largest holding is Ethereum, with a holding of $147 million, close to $148 million, which is a very large amount. The average cost is $3,396, meaning his holding cost is around $3,400. Of course, we know that Ethereum's current price is around $3,300, with each coin losing about a few dozen dollars, resulting in a total loss of nearly $2.8 million. This loss is relatively significant, but it also indicates the Trump family's optimism about ETH. We will discuss ETH in detail later, including its price trend and when we should buy.
The third project is LINK, which belongs to the DeFi project, including AAVE, which also belongs to the DeFi project. The holding amounts for these two tokens are the same, at $6.7 million. Of course, both projects are in a profitable state.
Another one is TRON, which has also been added recently, with a total holding amount of $7.35 million, and its cost is $0.244, currently still in a profitable state.
The last two are ENA and ONDO, with ENA currently in a loss and ONDO also in a loss, so overall, they are still in a loss state.
Among these coins, which ones are worth buying?
As for Ethereum, there is no doubt that it is definitely worth buying. Although Ethereum's current price performance is not satisfactory, from the daily chart level, it has been operating below the lifeline, and although there have been attempts to rise, it has also been suppressed.
Ethereum can only truly break free from the bearish trend by breaking the downward trend line. After breaking $2,800, Ethereum made a new high and then pulled back, so the direction of the trend line is the direction it needs to break through.
Currently, the price is $3,320, while Trump's cost is $3,396, which is slightly lower. Of course, we should not overly bearish on Ethereum, as its price is actually already in a relatively low area.
So why do we say it is in a relatively low area? If we look at the 3-day chart level, it will be clearer. From the weekly chart level, we can see that Ethereum's price has actually broken through the middle track of the Bollinger Bands. After breaking through the middle track, it stumbled forward, eventually falling back to the middle track of the Bollinger Bands, and then rose again, forming a double top before breaking through the middle track of the Bollinger Bands again in November.
After the breakthrough, it actually welcomed a proper correction at that position, confirming the pullback after the breakthrough, which is the trend of Ethereum.
Last week, it actually dipped to $2,900, which means the middle track of the Bollinger Bands was broken, but it did not effectively break down. So this time, it has once again touched the middle track of the Bollinger Bands, around $3,100.
Therefore, as for Ethereum, if it drops to $3,100, it is definitely a good time to buy; if it drops further to $2,800, then it goes without saying that it is definitely a good opportunity to add to positions. So everyone must pay attention, do not be overly bearish on Ethereum, as it is still in a relatively low area, and it is a project we should focus on.
LINK, as a DeFi project, currently has a price trend that looks quite good from the daily chart level, with the daily moving averages showing a bullish divergence. Yesterday, it surged by 13%, gradually breaking upward, with current support at $25.59 and the current price at $26.
So as for LINK, the bottom is also expanding, so its next target is $30, and LINK's trend can still be optimistic.
AAVE's price is similar, having broken through the upper boundary of the consolidation triangle, with a 13% increase yesterday. It is now starting to pull back, and the volume was released yesterday. After breaking the triangle, it will continue to rise, so AAVE is also performing well, possibly influenced by the Trump family, which we cannot deny.
TRX, its liquidity is hard to evaluate; at least its K-line trend is somewhat regular, yet also quite chaotic.
Why do we say it has a pattern? Since January 2023, after breaking through the lifeline on the weekly chart, it has steadily advanced along the lifeline, slowly rising from $0.06. It has not dropped dramatically, nor has it risen dramatically.
So from $0.06, starting in 2023, it has slowly risen to a current high of $0.45, and the current price is $0.2469. So at this current price, is TRX worth buying?
If we look at this trend, it is indeed worth buying, especially when it pulls back to around $0.20, it is even more worth buying. Currently at $0.24, it is slowly approaching this breakout point, and if there is another opportunity to dip down, I believe it is definitely a good time to buy TRX.
Why do investment institutions buy TRX? It may be related to Sun Yuchen investing $38 million in WLFI, as he is one of the largest shareholders.
The performance of the ENA token is currently around the 30-week moving average at $0.7594, which actually has support. It has already tested this level once last week, and this time it can be bought again; if it breaks, then it should be sold.
ONDO follows the same reasoning, also pulling back to $1.10, which is also at the 30-week lifeline position. So if this coin tests around $1.0 again, it can also be considered for re-entry, at least the cost will definitely be lower than their current positions.
But big players are big players; do you think they care about this little money? On Trump's token, they are making a fortune, including Trump's wife and son, who have also issued MEME tokens, which are just for harvesting.
Will the president harvest? Yes, he is a businessman. As for which token you choose to trade, it varies from person to person. So pay attention, where should the heavy positions be placed? On Bitcoin. See you next time.
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