Conveying the Way of Trading, Enjoying a Wise Life.
1. Review of Trading Strategies
S: Successfully retraced to 0.57, current price is 0.59, in a profitable state, can continue to hold.
ACH: Performing extremely strong, current price is around 0.036. The entry position we previously suggested was 0.024, holding until now has yielded substantial profits, can continue to hold firmly, with the potential for more profits.
MKR: As the leading token in the lending sector, it has broken through the middle band of the Bollinger Bands on the daily chart. Although the price briefly fell below 170 yesterday and closed below it, there has been a rebound today.
It is important to note that it faces two major challenges: first, the large unlocking of approximately 2 billion USD from FTX, and second, the impact of the presidential coin on the SOL chain meme may affect this token. If it retraces to around 1050, consider entering.
EIGEN: As the leader in re-staking, it has reached our preset entry position, investors can enter with a small position to lay out future growth potential.
IP: Retraced to 1.85 again yesterday, today it surged strongly to around 2 USD. If there is an opportunity to retrace below 1.50 later, be sure to seize the entry opportunity, the future potential of this token should not be underestimated.
2. On-chain Data Insights
Whale Asset Dynamics: Among the top 100 whales by Bitcoin market capitalization, the 13th increased holdings by 516 Bitcoins, the 34th increased by 538, and the 59th and 100th also saw varying degrees of increase. However, the 48th remains in a state of reduction, though its situation has slightly improved compared to the last time.
Due to the significant fluctuations of the 48th, we may conduct a separate analysis on it later. Overall, whales are in an accumulation state, although not very obvious, it still releases positive signals.
Net Asset Outflow Situation: According to coinglass data, in the net outflow ranking yesterday, PEPE ranked first, LINK second, and SAND third, with ACH, which we are focusing on, also included.
PEPE's current price has neither broken down nor shown significant increases, remaining in a stalemate. ACH, on the other hand, has performed excellently, maintaining a strong price trend despite net outflows.
Other Important On-chain News:
El Salvador is averaging an increase of 1.6 Bitcoins per day, with an average cost of 98,579 USD, demonstrating its firm confidence in Bitcoin's price trend.
Whales increased their holdings of 4 million USDC in Hyperliquid to go long on SOL during the price drop.
Additionally, Circle minted another 250 million USD of USDC on the SOL chain.
A new wallet withdrew 7.57 million USD of SOL from Binance for staking, all these positive news indicate market optimism towards SOL.
3. Technical Trend Analysis
Bitcoin: The key currently lies at the lower channel support at 93,300. If this level breaks, it is highly likely to trigger a sharp price drop. Therefore, investors must pay close attention, and it is recommended that the overall position should not exceed 50% to control risk.
PEPE: Currently consolidating on the upward trend line, it surged to 0.00001063 the day before yesterday, but fell by 12.75% yesterday, oscillating back and forth, which is quite frustrating. For investors holding PEPE, the only option now is to hold temporarily; if the price breaks below 0.00000900, it is advisable to exit to avoid risk.
MKR: Broke through the middle band of the Bollinger Bands yesterday, with a two-day increase of 8% - 9% the day before yesterday, and today it rose by 3.84%, showing a significant performance with increased volume at the bottom. It has now broken through the neckline at 1019, and may further push upwards.
The upper resistance level is at the middle band of the Bollinger Bands on the 2-day and 3-day charts, around 1280, short-term traders can take profits here, while medium to long-term traders can gradually lay out their positions.
EIGEN: Has reached the entry point, showing three consecutive days of doji candles, and no new lows, indicating a possible short-term upward rebound, or it is building a bottom, investors should closely monitor its subsequent trends.
ACH: Has seen three consecutive days of increases on the daily chart, with a 28% increase yesterday, reaching the lower channel support. In previous instances, it stabilized after hitting the lower channel support before surging, the last surge was quick but also followed by a rapid drop. If you haven't entered earlier, it is advisable to observe for now; if it retraces to around 0.028, consider entering again.
IP: The price has returned to around 2.0, having previously retraced to a low of 1.36. The future performance of this token is widely optimistic, and it has now retraced to near the upward trend line at 23.66, interested investors may consider entering. However, it is important to note that if it closes below 23.66, be sure to exit in a timely manner, as yesterday's K-line had a volatility of 21%, with significant divergence between bulls and bears, breaking this level would mean a change in trend.
SOL: The price broke down yesterday, showing a spike, although there was volume, it still lags compared to earlier periods. After breaking the trend line, it is expected to drop to 120 USD. After reaching this level, consider entering again; currently, any entry should only be tentative. If SOL's ETF application is approved, it will usher in a significant upward trend, investors can prepare in advance.
S: Yesterday it retraced to 0.057, forming a head and shoulders bottom structure, with 0.057 as the neckline. After breaking the neckline, it confirmed with a retracement, the next target price is around 0.80, pay attention to its price trend and seize the opportunity.
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