This morning, the cryptocurrency market suddenly plunged into a "black storm", with Bitcoin plummeting to $0.058 million, hitting a new low in nearly ten days, and Ethereum also falling below the $2,400 level. This sharp decline has attracted widespread attention and speculation in the market. The massive outflow of ARKB funds is considered to be the main driver, while bottom-fishers taking profits and selling pressure from sell-off in Mentougou have also intensified market volatility. Despite the current market sentiment being low, Bitcoin has support in the $58,000-$59,000 range, and Friday's PCE data could be a key turning point in the market trend.

Four cryptocurrencies worth paying attention to currently.

SOL - Despite the current market volatility, its breakout potential is still huge.

Solana's price has recently rebounded from $108 to $156, but the current overall market trend still appears unstable. The current price range may fluctuate between $141 and $150. If the market warms up, Solana may break through the key resistance level of $164 and usher in a greater upward potential. The market is filled with optimistic expectations for Solana, with a recent increase of over 7%, showing strong market confidence. Despite short-term fluctuations, Solana is widely bullish due to its potential.

SHIB - Former star of the bull market, currently exerting full force on key rebound line!

SHIB's popularity soared during the bull market of 2021, with prices rising by millions of percentage points, astonishing countless investors. Despite a recent decline of over 20%, technical indicators are showing strong rebound signals. SHIB is currently making a strong push towards the 50-day exponential moving average (EMA), which was a key support level. Breaking through this resistance level could ignite a larger-scale rebound. SHIB's future is still full of hope and may herald a new glorious moment.

AR - After experiencing a sharp rebound, market signals are bullish, with unlimited possibilities in the future!

After falling to a six-month low of $16.10 on August 5th, Arweave's AR token has experienced a strong rebound, and its price has now soared to $23.68, with a staggering increase of 56%. In addition, market attention on AR has significantly increased, and the MACD indicator has also sent out a continued upward signal. Currently, the MACD line (blue) is above the signal line (orange) and close to the zero line, indicating that the short-term moving average is rising faster than the long-term moving average. Therefore, this situation is seen as a strong bullish signal, indicating the presence of buying opportunities and strong buying momentum in the market.

PENDLE - running in an upward channel, technical indicators show strong buy signals!

The price of PENDLE has risen by nearly 53% from this month's low of $1.89. The asset is currently running in an upward channel, with a 20% increase in the past 7 days. Although the current price may face resistance at $4.6, the RSI indicator shows a neutral state at 53, indicating some selling pressure, which may cause a short-term price correction and consolidation. However, the MACD indicator shows a bullish momentum, with a bullish signal formed by the cross of EMA9 and EMA20, indicating that the market still has strong buying momentum.