Gate today's market: BTC reaches a new high approaching 121,300 USD, ZKJ big pump 77% leading popular tokens

Today (11), the cryptocurrency market is showing strong performance across the board. Bitcoin (BTC) has broken through 121,200 USD, setting a new high for this round, while Ethereum (ETH) remains above 4,300 USD, continuing its long positions pattern. Gate's platform token GT has rebounded close to the 17 USD mark. Among popular tokens, ZKJ has surged by as much as 77%, and LDO and ENA have also performed remarkably, becoming the focus of capital interest.

BTC strong breakthrough, short-term long positions momentum sufficient

(Source: Gate)

BTC experienced a strong rebound after consolidating, reaching a high of $121,260.3, breaking through the $121,000 mark.

Technical Analysis: The short-term moving averages (MA5, MA10) are turning upwards and are in a long positions arrangement, with the price far above MA30, indicating sufficient short-term long positions momentum.

Volume: A significant bullish candlestick indicates a concentrated buying surge. If it can stabilize above $121,000, there is hope for a continuation of the upward trend.

Risk points: There are risks of short-term overbuying and profit-taking at high levels. If it falls below 120,000 USD and trading volume decreases, a technical adjustment may occur.

ETH targets 4,400 USD, maintaining a strong oscillation

ETH regained its upward momentum after a brief pullback, breaking through the stage high of $4,343.23 and closing at $4,313.90.

Technical Analysis: The short-term moving averages have crossed above again and maintained a bullish arrangement, with prices consistently staying above MA30, indicating a healthy trend.

Support level: Recently, support has been gained multiple times at 4,250-4,260 USD, with steady buying.

Target level: If it stabilizes above 4,300 USD, it is expected to challenge 4,400 USD; if the volume is insufficient, it may rise and then retreat for correction.

GT Rebound Approaches 17 USD, Pay Attention to Breakthrough Opportunities

GT rebounded to 16.96 USD after finding support at 16.40 USD.

Technical Analysis: The short-term moving average is turning upward, likely forming a golden cross; MA30 is flat, and the medium-term is still in a consolidation pattern.

Resistance level: There is significant pressure above $17.00. If there is a volume breakout, there may be a chance to challenge the previous high of $17.24; if the volume is insufficient, it may consolidate between $16.80 and $17.00.

Popular Token Spotlight

* ZKJ Polyhedra Network (+77.01%)

Current price: 0.31067 USD

Highlights: Promoting Web3 interoperability and privacy using Zero-Knowledge Proofs (ZKP).

Catalyst: Collaborating with Google Cloud to launch the zkGPT system, which allows verification of AI inference results without exposing model information.

Trend: Quickly surged from a low of $0.15 to $0.36588, with significantly increased trading volume and strong bullish sentiment.

* LDO Lido (+14.05%)

Current Price: 1.4889 USD

Highlights: Decentralized liquidity staking protocol that supports staking certificate tokens such as stETH.

Catalysts: Staking-type ETFs promotion, clear regulations, and the draft LDO repurchase plan stimulate market revaluation.

* ENA Ethena (+11.56%)

Current Price: 0.8324 USD

Highlights: Decentralized stablecoin protocol, core product USDe market cap exceeds 10 billion USD.

Trend: Steadily rising from $0.55, recently accelerated to break through $0.8357, showing a stable upward channel.

Conclusion

Today, the Gate market shows that BTC and ETH continue to strengthen, with the popular tokens ZKJ, LDO, and ENA performing prominently. In the short term, market sentiment is leaning towards long positions, but there are risks of high volatility and pullbacks. Investors should combine technical analysis with changes in trading volume to flexibly adjust their positions and seize trading opportunities in mainstream coins and popular thematic tokens.