Bit World reported:
The three major American stock indexes have fluctuated. The US spot Bitcoin ETF sold a total of 2,145 bitcoins on June 25th. In July, Mentougou will also begin to sell BTC and BCH. This may be the key factor causing the decline in the price of Bitcoin. The increase in supply and decrease in demand will truly be tested in July. Bitcoin may see a short-term rebound, but the intensity of the rebound is not expected to be strong, and there may be a second bottoming. If it does not break $58,300, a successful bottoming can be aggressively bought. If it does break, then the support levels to watch below are $56,500-67,000 and $53,000-55,000. Short-term stability requires at least $63,000, and medium-term stability requires a return to $65,000-66,000.
The chairman of the US SEC said that the approval process for the spot Ethereum ETF is going smoothly. Personally, I think it’s time to reduce Bitcoin holdings and increase Ethereum holdings. The key support below is $3,150-3,350. Short-term stability requires at least $3,450, and medium-term stability requires a return to at least $3,650. It may still fluctuate with Bitcoin, but the leader of the next wave of the market may become Ethereum.
Looking at the performance of altcoins from yesterday, it is believed that holding on for the long term is the best choice. There are only two views on altcoins: one is that when Bitcoin stabilizes, altcoins will take off. The other is to focus on three sectors: artificial intelligence, Ethereum ecology, and meme sector.
Current potential altcoins worth paying attention to:
AGIX
The artificial intelligence token SingularityNET (AGIX) surged 20.5% in the past 24 hours, reaching $0.68 at the time of writing. Its market value is close to $8.9 billion, with a daily trading volume of $148 million.
Technical analysis shows that AGIX is strong and continues to trend upward. The $0.60 support level has been confirmed, boosting confidence in the token’s performance. It is predicted that AGIX may reach the target of $1.40 earlier than expected.
FET and AGIX prices have recently risen, highlighting the growing interest in blockchain projects focused on AI. Over the past year, Fetch.ai (FET) has performed exceptionally well, with a 714% price increase.
INJ
Injective has established partnerships with Noble and Clusters. Through the collaboration with Noble, Injective can directly access the USDC issued on the platform, allowing users to seamlessly use native USDC in various dApps within the ecosystem, such as HelixApp. In addition, integration with Clustersxyz helps achieve unified identity between Ethereum, Solano, and Injective.
Furthermore, it is ranked fourth in the AI cryptocurrency category. Based on its market value, the token also has high liquidity. Additionally, Injective’s trading price is 266.48% higher than the 200-day simple moving average. Compared to its token sale price, it has performed well, with the trading price approaching its cycle high.
ANKR
Ankr Network is a unique project aimed at simplifying web3 development. It provides blockchain-based cross-chain infrastructure to facilitate the development of decentralized finance (DeFi) and applications (dApps). The positive sentiment among investors reflects in the bullish outlook. The surge in positive sentiment has pushed the greed index to 81, indicating strong confidence among investors and traders. The overall market recovery has also led to increasing trading volume for ANKR. Additionally, ANKR’s current trading price is $0.032, with a market value of $449 million and a total locked value (TVL) of over $82 million. The current price has risen by 7% in the past 24 hours, a 5945.3% increase from the historical low on March 13, 2020. Furthermore, Ankr Network’s trading price is 91.69% higher than the 200-day simple moving average (SMA). These indicators indicate a strong bullish trend.
