In-depth Analysis of the Cryptocurrency Market: Mainstream Coin Trend Analysis and Investment Strategies

In-depth Analysis of the Cryptocurrency Market: Mainstream Coin Trend Analysis and Investment StrategiesIntroduction:The cryptocurrency market is highly volatile and carries significant investment risk. In-depth research into the trend analysis and investment strategies of mainstream coins can effectively mitigate investment risks and enhance investment returns

In-depth Analysis of the Cryptocurrency Market: Mainstream Coin Trend Analysis and Investment Strategies

Introduction:

The cryptocurrency market is highly volatile and carries significant investment risk. In-depth research into the trend analysis and investment strategies of mainstream coins can effectively mitigate investment risks and enhance investment returns. This article will delve into the current patterns of five mainstream coins, namely BTC, ETH, SOL, TON, and BNB, and provide corresponding investment strategies based on technical indicators and market sentiment.

BTC: M-Top Formation Confirmed, Correction Ending, Rebound Imminent

BTC's current M-top formation is quite evident, with the $60,000 integer level serving as the neckline resistance of the M-top, playing a crucial role. Looking at technical indicators, BTC is nearing the end of its C-wave or 3-wave correction. Recalling Wave A, the price dropped from $73,800 on March 14th to $56,500 on May 1st, spanning a month and a half with a correction of $17,000. Similarly, Wave C started from $72,000 and reached $53,000+ on July 5th, lasting about a month and a half with a correction close to Wave A. However, due to its shorter duration, the correction period is insufficient, making a strong rebound unlikely in the short term. The recent two-day rebound can only be considered a dead-cat bounce.

A genuine rebound is expected to occur in late July. Before the rebound, a retracement to around $53,000 is anticipated. During this time, considering left-side entry to capture the rebound of Wave 4 might be viable. The ideal entry point is below $53,000, but be wary of potential opportunity windows. $51,000 is a crucial support level; if the price does not break below this level, BTC's trend will be relatively stable. The theoretical height of the Wave 4 rebound is around $68,000, but this is contingent upon breaking through the $60,000 resistance level. Only by breaking through the $60,000 resistance will a right-side uptrend form; currently, the market is still in a left-side downward trend.

ETH: Strong Box Bottom Support, Huge Rebound Potential

The previous Wave A (or Wave 1) of ETH dropped from $4,100 to $2,800, a correction of $1,300. Logically, Wave C (or Wave 3) in this round should have fallen from $4,000 to $2,700. However, the $2,800 box bottom support is exceptionally strong, having held this level for the fourth consecutive time, showcasing robust buying power. The $3,300 resistance level, equivalent to BTC's $60,000, acts as a barrier for ETH's upward movement.

The $2,800 support level should not be breached; if it breaks, it signifies the formation of a large-scale M-top pattern for ETH. If the $2,800 level holds, ETH still has rebound potential, and we can anticipate a Wave 4 rebound. For left-side participation, it is recommended to enter around the $2,900 box bottom. If the price breaks below $2,800, stop losses should be implemented promptly.

SOL: Consolidating in a Contracting Triangle Pattern, Breaking Through Resistance Can Open New Horizons

Similar to ETH, SOL has also tested its support level four times, but the pattern is completely different. SOL is consolidating in a contracting triangle pattern, with the $160 resistance level obstructing its upward movement. Breaking through this resistance level will open new doors and initiate a new round of upward momentum. $120 is the current support level, and SOL's price is currently hovering around $140, caught in an awkward position of neither rising nor falling.

SOL's C-wave (or Wave 3) correction space is significantly smaller compared to BTC and ETH. Since Wave A's correction was $90, logically the current correction should be around $100. However, SOL, similar to ETH, is demonstrating strong performance. For left-side rebound participation, it is recommended to wait for a pullback to around $130, using $120 as a stop-loss.

TON: High-Level Fluctuation, Staking Ratio is Key to Future Development

TON is currently in a high-level fluctuating market, with $8 acting as the current resistance level; breaking through this level will allow for further ascension. TON's network staking volume has reached 646.9 million tokens, accounting for 25.8% of the circulating supply (approximately 2.501 billion tokens), a major factor behind its price stability. Similar to ETH, TON's network utilizes a staking mechanism, but unlike ETH, where staked tokens are irredeemable, TON does not impose time restrictions.

Whether TON can replicate ETH's glorious path remains uncertain. In the short term, TON will fluctuate between $8 and $6; breaking below $6 will mark a further step down. Two favorable points for attacking the market are breaking through $8 and retracing to around $6.

BNB: Head-and-Shoulders Top Pattern Clear, Left-Side Market, Proceed with Caution

Looking at BNB's pattern, there is a high probability of a head-and-shoulders top formation. Previously, a $500 entry opportunity was awaited, but the recent correction has pushed BNB into a left-side downward trend, leading to the decision not to enter at $500. Currently, a cautious observation stance is maintained for BNB.

Firstly, BNB is still in a left-side market, carrying higher risks. Secondly, $550 presents a resistance level. Thirdly, even if the price rebounds to $500, reaching $630 from the right shoulder would only yield a 20% gain, making the price-to-performance ratio unattractive. If participation is desired, it is recommended to wait for BNB to retrace back below $480, using $450 as a stop-loss. Should the price break below $450, be vigilant for the potential of a downward test of the $350 level.

Summary:

The trend analysis of these five mainstream coins, namely BTC, ETH, SOL, TON, and BNB, can help investors better grasp market trends and formulate sound investment strategies. It's crucial to remember that the cryptocurrency market is highly volatile and carries significant investment risks. Investors should practice risk control, avoid blind investments, and refrain from chasing rallies and selling on dips.

Investment Recommendations:

• BTC: Wait for a rebound in late July; consider left-side entry near a retracement to $53,000, using $51,000 as a stop-loss, targeting $68,000.

• ETH: The $2,800 support level should not be breached; if it holds, consider left-side entry near $2,900; implement stop losses promptly if the price breaks below $2,800.

• SOL: Wait for a pullback to around $130, using $120 as a stop-loss, targeting $160.

• TON: Consider entry upon breaking through $8 or retracing to around $6.

• BNB: Proceed with caution; wait for BNB to retrace back below $480, using $450 as a stop-loss.

Disclaimer: The above analysis is for reference only and does not constitute investment advice. Investors should make independent judgments and invest cautiously.

Conclusion:

The cryptocurrency market is constantly changing; investors need to remain rational, conduct in-depth market research, analyze technical indicators, and formulate investment strategies aligned with their risk tolerance. Only through these measures can investors achieve success in the dynamic and challenging cryptocurrency market.

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