BEST CRYPTO TECHNICAL ANALYSIS BY CAPITAL STREET FX

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Daily Crypto Analysis – Bitcoin dips, Ethereum struggles, Doge soars, Ripple-SEC clash.

Introduction

Bitcoin struggles above $41,000 as whales make strategic moves on a major exchange, closing leveraged positions and increasing USDT reserves. Ethereum faces scalability challenges with high fees affecting d App adoption. Doge coin's market cap reaches $12 billion amid speculation of integration into Elon Musk's X Payments. Ripple responds to the SEC, contesting the regulator's request for what it deems irrelevant information in the ongoing legal battle.

Markets In Focus Today – BITCOIN

Bitcoin Price Ranges Sideways Above $41,000 As Whales Make Strategic Moves In BTC.

Bitcoin price is trading on the defensive above $41,000 on Monday after a week-long decline. Whales on a leading crypto exchange have closed their leveraged positions, leading to a significant increase in USDT reserve. Bitcoin (BTC) is struggling on Monday morning to keep its head above volatile waters, trading at $41,000, after its value fell last week. A decline in open interest by large-wallet investors (popularly known as whales), coupled with an increase of their Tether (USDT) reserves on Bitfinex, suggests that the downward trend for BTC price could extend in the short term.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 42183.75 | Negative Crossover | Bearish
• MA 20 : 42780.74 | Negative Crossover | Bearish
• MA 50 : 42093.87 | Negative Crossover | Bearish

Simple :

• MA 10 : 42064.81 | Negative Crossover | Bearish
• MA 20 : 43483.88 | Negative Crossover | Bearish
• MA 50 : 43234.64 | Negative Crossover | Bearish

RSI (Relative Strength Index): 40.09 | Neutral Zone | Bearish

Stochastic Oscillator : 13.01 | Sell Zone | Negative

Resistance And Support Levels :

• R1 : 44310.51 R2 : 45983.99
• S1 : 38893.00 S2 : 37219.52

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 41056.53 | Take Profit: 38784.66 | Stop Loss: 42462.92

ETHEREUM

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Daily Crypto Analysis – Bitcoin Dive, Ethereum at $2k, Chainlink Bubble, XRP Struggles.

Introduction

Bitcoin plunges below $40k as enthusiasm surrounding spot ETF approval diminishes. Despite initial optimism, the cryptocurrency struggles to sustain gains post-SEC approval. Ethereum faces a potential drop to $2,000 as on-chain metrics indicate profit-taking by whales. Chainlink exhibits short-term bubble risk, breaking out of a bullish channel with a potential trend reversal. XRP experiences a 9% decline as traders grapple with losses exceeding $130 million, with diminishing demand and anticipation for a Spot XRP ETF failing to halt the altcoin's downward trajectory.

Markets In Focus Today – BITCOIN

Bitcoin breaks below $40k as spot ETF hype wanes.

Bitcoin fell sharply to an over seven-week low while also breaking below key levels on Tuesday as an initial boost from the approval of several spot exchange-traded funds now appeared to be waning. The world's largest cryptocurrency saw a strong melt-up over the past year amid speculation that the Securities and Exchange Commission (SEC) would approve ETFs that directly track the price of the token- a first for U.S. markets. The token peaked at a near two-year high earlier this month, just as the SEC approved the spot ETFs. But bitcoin's performance since the approval has been largely underwhelming, defying forecasts that the price would shoot up with the entrance of more institutional capital.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 41519.88 | Negative Crossover | Bearish
• MA 20 : 42364.96 | Negative Crossover | Bearish
• MA 50 : 41946.62 | Negative Crossover | Bearish

Simple :

• MA 10 : 41593.45 | Negative Crossover | Bearish
• MA 20 : 43246.90 | Negative Crossover | Bearish
• MA 50 : 43159.75 | Negative Crossover | Bearish

RSI (Relative Strength Index): 35.99 | Sell Zone | Bearish

Stochastic Oscillator : 6.17 | Sell Zone | Neutral

Resistance And Support Levels :

• R1 : 44310.51 R2 : 45983.99
• S1 : 38893.00 S2 : 37219.52

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 40285.04 | Take Profit: 37324.01 | Stop Loss: 42285.73

ETHEREUM

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Daily Crypto Analysis – Ripple-SEC clash, XRP dip, Bitcoin liquidations, Ethereum losses, Uniswap bearish.

Introduction

In the ongoing legal battle between Ripple and the SEC, the regulatory body files a reply supporting its motion to compel against Ripple, attempting to turn the tide in its favor. Meanwhile, XRP struggles at a three-month low. Bitcoin's recent price drop triggers significant liquidations, with expert analysis linking it to GBTC redemptions. Ethereum faces losses, while Uni swap validates a bearish reversal pattern, causing substantial liquidations and signaling potential further declines. Market sentiment remains volatile, shaping the trajectory of major cryptocurrencies.

Markets In Focus Today – RIPPLE

SEC Files Reply Backing Its Motion To Compel Against Ripple; XRP Price Rebounds From Aug 2023 Low.

XRP price at the time of writing is at a three-month low, with the RSI sitting in the oversold zone for the first time since August 2023. Ripple and the SEC are continuing their battle, with the latter filing a reply in support of its motion to compel. The Securities and Exchange Commission (SEC) is attempting to flip one of its biggest losses into some semblance of a victory. This is evident by the most recent filing from the regulatory body against Ripple seeking court intervention over undisclosed document requests. XRP price, on the other hand, is trending in an unfavorable direction.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 0.54 | Negative Crossover | Bearish
• MA 20 : 0.56 | Negative Crossover | Bearish
• MA 50 : 0.58 | Negative Crossover | Bearish

Simple :

• MA 10 : 0.55 | Negative Crossover | Bearish
• MA 20 : 0.56 | Negative Crossover | Bearish
• MA 50 : 0.60 | Negative Crossover | Bearish

RSI (Relative Strength Index): 30.41 | Sell Zone | Bearish

Stochastic Oscillator : 13.56 | Sell Zone | Positive

Resistance And Support Levels :

• R1 : 0.68 R2 : 0.71
• S1 : 0.59 S2 : 0.56

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 0.52 | Take Profit: 0.48 | Stop Loss: 0.56

BITCOIN

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Daily Crypto Analysis – Bitcoin Freefall, Ethereum $2000 Dip, Uniswap Liquidation, XRP Upgrade.

Introduction

Bitcoin remains range-bound around the $40,000 mark, signaling a period of consolidation post-Spot ETF approval, while retail traders with less than 1 BTC reduce holdings, impacting Bitcoin wallets since October 2023. Ethereum faces a potential dip to $2000 amidst subdued cryptocurrency market volatility. Uniswap experiences a bearish reversal, with liquidations reaching $2.2 million. Meanwhile, the XRP Ledger anticipates an upgrade introducing an Automated Market Maker, allowing XRP holders to earn on-chain income through liquidity provision.

Markets In Focus Today – BITCOIN

Bitcoin Price Sees Range-Bound Price Action Below The $40,000 Mark Closer To BTC Halving.

Bitcoin wallet addresses have been on a decline since October 2023. BTC price drop below the $40,000 mark triggered liquidations in over 487,000 wallets holding up to 1 Bitcoin. Bitcoin price is range bound less than three months away from the upcoming BTC halving event in April. Bitcoin price is range bound close to the psychologically important $40,000 level, nearly two weeks post-Spot ETF approval by the Securities and Exchange Commission. Retail traders holding less than 1 BTC have shed their holdings, as evidenced by the decline in Bitcoin wallets since October 2023. Bitcoin's retail traders are therefore on a decline amidst the BTC price correction.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 40899.76 | Negative Crossover | Bearish
• MA 20 : 41790.73 | Negative Crossover | Bearish
• MA 50 : 41743.34 | Negative Crossover | Bearish

Simple :

• MA 10 : 40890.00 | Negative Crossover | Bearish
• MA 20 : 42635.73 | Negative Crossover | Bearish
• MA 50 : 42943.95 | Negative Crossover | Bearish

RSI (Relative Strength Index): 39.70 | Sell Zone | Bearish

Stochastic Oscillator : 21.70 | Sell Zone | Negative

Resistance And Support Levels :

• R1 : 44312.50 R2 : 45985.97
• S1 : 38894.98 S2 : 37221.51

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 40826.18 | Take Profit: 38768.46 | Stop Loss: 42442.96

ETHEREUM

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Weekly Crypto Analysis – Bitcoin's $43,750 Surge, Ethereum's $2,000 Dip, Uniswap Drama.

Introduction

Bitcoin faces a pivotal moment with a weekly close near $43,750 as it recovers from a 20% slump. JPMorgan's note on GBTC profit-taking sparks a potential 5% climb into an ascending channel. Ethereum drops to $2,000, while Chainlink's price sees a 3.56% increase. Uniswap validates a bearish reversal pattern, targeting a 34% correction to $3.81, leading to $2.2 million in liquidations. Cryptocurrency market volatility remains subdued, maintaining a total market capitalization of around $1.56 trillion.

Markets In Focus Today – BITCOIN

Bitcoin Weekly Forecast As The Monthly Close Draws Near, The Significance Of $43,750 Grows.

Bitcoin price is nurturing a recovery rally after a 20% slump from the January 11 high of $48,969.BTC could climb 5% into protective custody of the ascending parallel channel as a buy signal beckons. Invalidation of the bullish outlook will occur upon a weekly candlestick close below $40,726. Bitcoin's (BTC) price broke consolidation on the weekly time frame on Friday, but the daily time frame shows a steep downtrend. However, recovery efforts appear underway after investment firm JPMorgan said profit-taking on GBTC has largely concluded.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 41271.77 | Positive Crossover | Bullish
• MA 20 : 41914.30 | Negative Crossover | Bearish
• MA 50 : 41799.69 | Negative Crossover | Bearish

Simple :

• MA 10 : 40934.95 | Positive Crossover | Bullish
• MA 20 : 42595.20 | Negative Crossover | Bearish
• MA 50 : 42924.10 | Negative Crossover | Bearish

RSI (Relative Strength Index): 47.35 | Buy Zone | Bullish

Stochastic Oscillator : 47.78 | Buy Zone | Neutral

Resistance And Support Levels :

• R1 : 44312.50 R2 : 45985.97
• S1 : 38894.98 S2 : 37221.51

Overall Sentiment: Neutral Market Direction: Sell

Trade Suggestion: Limit Sell: 42215.46 | Take Profit: 40112.99 | Stop Loss: 43832.75

ETHEREUM

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Daily Crypto Analysis – Bitcoin Soars, Ethereum Crashes, Cardano Dips, Chainlink Struggles.

Introduction

Bitcoin hovers around $42,000 as speculation grows over Charles Schwab's potential entry into the Bitcoin ETF race, intensifying market interest. Ethereum faces a significant decline, erasing previous gains and raising concerns about its sustainability. Cardano experiences a dip in whale transactions, triggering discussions about network dynamics, while Chainlink struggles to establish a strong upswing after breaking out of an 18-month accumulation phase. The crypto space is abuzz with developments impacting various digital assets.

Markets In Focus Today – BITCOIN

Bitcoin Price Hovers Around $42,000 As Markets Weigh Possible Charles Schwab Entry To ETF Race.

Bitcoin ETF race continues as Bloom berg ETF analyst speculates Charles Schwab's entry. Bitcoin exchange balances have nosedived by over one million BTC since 2020. BTC price sustained above the $42,000 level as Bitcoin eyes a recovery. Bitcoin ETF race likely to intensify as Bloomberg ETF specialist Eric Balchunas speculates $8.5 trillion asset manager Charles Schwab's entry into the race. BTC exchange balances are on a decline and a recovery in Bitcoin price is likely in the short term.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 41611.80 | Positive Crossover | Bullish
• MA 20 : 41991.30 | Positive Crossover | Bullish
• MA 50 : 41843.11 | Positive Crossover | Bullish

Simple :

• MA 10 : 41109.46 | Positive Crossover | Bullish
• MA 20 : 42172.87 | Negative Crossover | Bearish
• MA 50 : 42867.05 | Negative Crossover | Bearish

RSI (Relative Strength Index): 49.52 | Neutral Zone | Neutral

Stochastic Oscillator : 70.74 | Neutral Zone | Neutral

Resistance And Support Levels :

• R1 : 44312.50 R2 : 45985.97
• S1 : 38894.98 S2 : 37221.51

Overall Sentiment: Neutral Market Direction: Buy

Trade Suggestion: Limit Buy: 42525.82 | Take Profit: 45086.71 | Stop Loss: 41005.29

ETHEREUM

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Daily Crypto Analysis – Bitcoin rally, Cardano's return, Ethereum stakes, Chainlink risks.

Introduction

Bitcoin's potential rally is hinted at by the increase in exchange stablecoin reserves, signaling rising buying power and supporting the notion that the bull cycle is ongoing. The upcoming BTC halving in April could further drive Bitcoin price gains. Meanwhile, Cardano (ADA) eyes a 15% rise, buoyed by resurfacing shark and whale wallets. Ethereum staked reaches an all-time high, and dwindling exchange supply may elevate ETH prices. Chainlink faces a correction risk as its supply on exchanges rises, posing potential selling pressure.

Markets In Focus Today – BITCOIN

Bitcoin Price Could Rally As Buying Power Increases With The Rise In Exchange Stablecoin Reserves.

Bitcoin supply on exchanges has been on a consistent decline since the ETF approvals, driving an increase in stablecoin supply. Higher stablecoin supply signals an increase in buying power, supporting the thesis that the bull cycle still has legs. The upcoming BTC halving in April is likely to catalyze Bitcoin price gains. Bitcoin (BTC) price recovered above $43,000 on Tuesday after its recent correction, which led to a fall from a two-year high of $48,969 to a low of $38,555.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 42138.59 | Positive Crossover | Bullish
• MA 20 : 42241.35 | Positive Crossover | Bullish
• MA 50 : 41954.62 | Positive Crossover | Bullish

Simple :

• MA 10 : 41408.96 | Positive Crossover | Bullish
• MA 20 : 42073.84 | Positive Crossover | Bullish
• MA 50 : 42935.99 | Positive Crossover | Bullish

RSI (Relative Strength Index): 56.10 | Buy Zone | Bullish

Stochastic Oscillator : 86.02 | Buy Zone | Positive

Resistance And Support Levels :

• R1 : 44312.50 R2 : 45985.97
• S1 : 38894.98 S2 : 37221.51

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 43254.35 | Take Profit: 44785.15 | Stop Loss: 42356.98

CARDANO

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Daily Crypto Analysis – Bitcoin relief, Ethereum targets $2,500, Ripple pressured, Dogecoin hits peak addresses.

Introduction

Bitcoin holders are optimistic as Grayscale's GBTC withdrawals slow down, providing relief for the cryptocurrency's recent dip. Ethereum eyes $2,500 with bullish indicators, while Ripple faces potential downside pressure from a massive XRP reserve release. Dogecoin witnesses a surge in active addresses, hitting an all-time high, as its network sees a remarkable increase in new addresses. Cryptocurrency markets remain dynamic, influenced by factors such as institutional moves and network activity.

Markets In Focus Today – BITCOIN

Bitcoin Holders Are Hopeful For A BTC Price Rebound As Grayscale's GBTC Withdrawals Slow Down.

Grayscale's Bitcoin Spot ETF outflows have diminished this week. Bitcoin trades at around $43,000 as its halving event is nearly 81 days away. Bitcoin holder base has held broadly steady, with supply across multiple age bands just below its all-time highs. Bitcoin's (BTC) price is recovering this week, trading shy of the $43,000 level on Wednesday's European morning, after its recent drop to $38,555. Outflows from Grayscale's GBTC have slowed down this week, easing the selling pressure for Bitcoin and likely catalyzing its recent recovery.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 42220.21 | Positive Crossover | Bullish
• MA 20 : 42271.32 | Positive Crossover | Bullish
• MA 50 : 41977.60 | Positive Crossover | Bullish

Simple :

• MA 10 : 41501.61 | Positive Crossover | Bullish
• MA 20 : 41879.40 | Positive Crossover | Bullish
• MA 50 : 42956.42 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.58 | Buy Zone | Bullish

Stochastic Oscillator : 86.84 | Buy Zone | Neutral

Resistance And Support Levels :

• R1 : 44312.50 R2 : 45985.97
• S1 : 38894.98 S2 : 37221.51

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 42673.70 | Take Profit: 44204.50 | Stop Loss: 41881.90

ETHEREUM

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Daily Crypto Analysis – Bitcoin relief, Ethereum targets $2,500, Ripple pressured, Dogecoin hits peak addresses.

Introduction

Bitcoin holders are optimistic as Grayscale's GBTC withdrawals slow down, providing relief for the cryptocurrency's recent dip. Ethereum eyes $2,500 with bullish indicators, while Ripple faces potential downside pressure from a massive XRP reserve release. Dogecoin witnesses a surge in active addresses, hitting an all-time high, as its network sees a remarkable increase in new addresses. Cryptocurrency markets remain dynamic, influenced by factors such as institutional moves and network activity.

Markets In Focus Today – BITCOIN

Bitcoin Holders Are Hopeful For A BTC Price Rebound As Grayscale's GBTC Withdrawals Slow Down.

Grayscale's Bitcoin Spot ETF outflows have diminished this week. Bitcoin trades at around $43,000 as its halving event is nearly 81 days away. Bitcoin holder base has held broadly steady, with supply across multiple age bands just below its all-time highs. Bitcoin's (BTC) price is recovering this week, trading shy of the $43,000 level on Wednesday's European morning, after its recent drop to $38,555. Outflows from Grayscale's GBTC have slowed down this week, easing the selling pressure for Bitcoin and likely catalyzing its recent recovery.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 42220.21 | Positive Crossover | Bullish
• MA 20 : 42271.32 | Positive Crossover | Bullish
• MA 50 : 41977.60 | Positive Crossover | Bullish

Simple :

• MA 10 : 41501.61 | Positive Crossover | Bullish
• MA 20 : 41879.40 | Positive Crossover | Bullish
• MA 50 : 42956.42 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.58 | Buy Zone | Bullish

Stochastic Oscillator : 86.84 | Buy Zone | Neutral

Resistance And Support Levels :

• R1 : 44312.50 R2 : 45985.97
• S1 : 38894.98 S2 : 37221.51

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 42673.70 | Take Profit: 44204.50 | Stop Loss: 41881.90

ETHEREUM

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Daily Crypto Analysis – Crypto Surge, Ripple Falters Again.

Introduction

Bitcoin's price rebounds, testing resistance at $43,000, signaling increased buying pressure after a volatile week. On-chain metrics suggest the potential for a BTC rally as profit-taking by whales decreases. Dogecoin experiences modest gains despite a rise in network activity, while Chainlink surges to a two-year high on the movement of dormant tokens. Ripple's XRP price declines despite FOMO Pay's announcement of a link between Asia and Africa, with a crucial support level defining its next directional move.

Markets In Focus Today – BITCOIN

Bitcoin Price Recovers As On-Chain Metrics Point A Potential BTC Rally.

Bitcoin price tests resistance at $43,000, recovering from a week-long slump. Bitcoin on-chain metrics signal a likelihood of a BTC price rally. BTC profit-taking by whales has declined, paving the way for extended price gains. Bitcoin (BTC) price tested resistance at $43,000 on Friday, recovering from declines earlier this week, in a sign of increasing buying pressure after a choppy week. Some of the asset's on-chain metrics support the thesis of further price gains ahead, although Bitcoin price has been moving broadly sideways for the last two months.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 42467.94 | Positive Crossover | Bullish
• MA 20 : 42393.70 | Positive Crossover | Bullish
• MA 50 : 42050.89 | Positive Crossover | Bullish

Simple :

• MA 10 : 42134.39 | Positive Crossover | Bullish
• MA 20 : 41876.26 | Positive Crossover | Bullish
• MA 50 : 42953.29 | Positive Crossover | Bullish

RSI (Relative Strength Index): 54.07 | Buy Zone | Neutral

Stochastic Oscillator : 82.14 | Neutral Zone | Neutral

Resistance And Support Levels :

• R1 : 47387.23 R2 : 49860.60
• S1 : 39380.20 S2 : 36906.83

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Stop Buy : 43499.71 | Take Profit: 45288.75 | Stop Loss: 42416.87

DOGECOIN

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Weekly Crypto Analysis – Bitcoin up, Ethereum down, Dogecoin active, Chainlink rising.

Introduction

Bitcoin's resurgence to $43,000 signals a recovery after a week-long dip, with on-chain metrics hinting at a potential rally. Declines in profit-taking by BTC whales provide room for extended gains. Meanwhile, Ethereum erases recent gains, facing a significant bearish signal. Dogecoin sees a marginal uplift despite increased network activity, and Chainlink, an outlier in the volatile altcoin market, faces a potential 20% correction. The crypto landscape remains dynamic, with on-chain indicators influencing asset trajectories.

Markets In Focus Today – BITCOIN

Bitcoin Price Recovers As On-Chain Metrics Point To A Potential BTC Rally.

Bitcoin price tests resistance at $43,000, recovering from a week-long slump. Bitcoin on-chain metrics signal a likelihood of a BTC price rally. BTC profit-taking by whales has declined, paving the way for extended price gains. Bitcoin (BTC) price tested resistance at $43,000 on Friday, recovering from declines earlier this week, in a sign of increasing buying pressure after a choppy week. Some of the asset's on-chain metrics support the thesis of further price gains ahead, although Bitcoin price has been moving broadly sideways for the last two months. The asset could kick-start a potential rally as on-chain metrics are bullish and renewed BTC ETFs inflows after weeks of massive GBTC outflows.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 42576.36 | Positive Crossover | Bullish
• MA 20 : 42457.91 | Positive Crossover | Bullish
• MA 50 : 42090.86 | Positive Crossover | Bullish

Simple :

• MA 10 : 42432.69 | Positive Crossover | Bullish
• MA 20 : 41940.23 | Positive Crossover | Bullish
• MA 50 : 42975.56 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.44 | Buy Zone | Bullish

Stochastic Oscillator : 85.16 | Buy Zone | Neutral

Resistance And Support Levels :

• R1 : 47387.23 R2 : 49860.60
• S1 : 39380.20 S2 : 36906.83

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Stop Buy: 43407.56 | Take Profit: 45221.06 | Stop Loss: 42394.13

ETHEREUM

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Daily Crypto Analysis – Bitcoin, XRP, Chainlink dynamics.

Introduction

Bitcoin remains flat at around $42,000 as East Asia anticipates the Lunar New Year, marking the start of the 'Year of the Dragon.' Despite a sell-the-news effect in the crypto market, optimism prevails due to controlled inflation and an upcoming Bitcoin halving event. Meanwhile, XRP trades unchanged ahead of a crucial milestone in the SEC vs. Ripple lawsuit on February 12. Chainlink sees a price rebound as large wallet holders strategically accumulate LINK tokens, while Dogecoin's price stability hints at potential bottom formation despite recent network activity spikes.

Markets In Focus Today – BITCOIN

Bitcoin Flat As Traders Look Forward To The 'Year Of The Dragon'.

Bitcoin (BTC) traded flat, hovering over $42,000 early Monday, while the CoinDesk 20 Index {{CD20}} is down 0.75% at 1,643, according to CoinDesk Indices data, as nations in East Asia count down the last working days before the Lunar New Year holiday. Over the next few days, East Asia will celebrate the start of the year of the dragon, considered one of the luckiest and most prosperous animals in the Chinese Zodiac. Despite the crypto market currently experiencing a sell-the-news effect, the year of Dragon is on track to be one of the best performing as the inflation is now under control and the bitcoin halving event takes place later this year.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 42683.30 | Positive Crossover | Bullish
• MA 20 : 42535.76 | Positive Crossover | Bullish
• MA 50 : 42151.49 | Positive Crossover | Bullish

Simple :

• MA 10 : 42823.99 | Positive Crossover | Bullish
• MA 20 : 41941.95 | Positive Crossover | Bullish
• MA 50 : 43019.07 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.82 | Buy Zone | Bullish

Stochastic Oscillator : 81.89 | Buy Zone | Neutral

Resistance And Support Levels :

• R1 : 47387.23 R2 : 49860.60
• S1 : 39380.20 S2 : 36906.83

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Stop Buy: 43460.89 | Take Profit: 45061.04 | Stop Loss: 42447.47

RIPPLE

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Daily Crypto Analysis – Bitcoin, Ethereum, XRP, Uniswap.

Introduction

Bitcoin's price appears poised for a 5% drop despite Powell's bullish outlook, with technical indicators signaling limited upside potential. Ethereum (ETH) maintains a range between $2,266 and $2,333, facing resistance at recent highs, while the staking ratio surges to 24%. XRP holds steady above $0.50 amid setbacks in the SEC vs. Ripple legal battle. Uniswap (UNI) eyes a bullish move towards $7 after introducing a new feature, trading above $6.00 and the 100 simple moving average.

Markets In Focus Today – BITCOIN

Bitcoin Price Is Likely To Fall 5% Despite Powell's Bullish Thesis For Bitcoin.

Bitcoin price continues to trade horizontally with technical indicators showing limited upside potential. BTC could drop 5% after a multi-week consolidation below the $43,750 blockade. The bearish thesis will be invalidated if the price breaks and closes above $46,000. Fed chair Jerome Powell said the US is on an "unsustainable path" as debt will outpace economic growth. In his opinion, investors will soon question the government's ability to pay its debt, which will push them towards dumping the US dollar in favor of a hedge. In such a turn of events, Bitcoin would pass as the best candidate for this hedge.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 42628.0793 | Positive Crossover | Bullish
• MA 20 : 42517.1815 | Positive Crossover | Bullish
• MA 50 : 42157.9179 | Positive Crossover | Bullish

Simple :

• MA 10 : 42830.6130 | Negative Crossover | Bearish
• MA 20 : 41917.0685 | Positive Crossover | Bullish
• MA 50 : 43012.1772 | Negative Crossover | Bearish

RSI (Relative Strength Index): 51.6391 | Buy Zone | Bullish

Stochastic Oscillator : 75.8080 | Buy Zone | Negative

Resistance And Support Levels :

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Stop Buy: 43418.52 | Take Profit: 44722.75 | Stop Loss: 42626.67

ETHEREUM

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Daily Crypto Analysis – Ethereum, Ripple, Bitcoin dramas.

Introduction

Ethereum approaches a critical juncture, gaining 1.6% to $2,350 but facing resistance near $2,400—a historical turning point. Meanwhile, XRP faces a potential downside as Ripple seeks a deadline extension in the SEC lawsuit. Bitcoin maintains an uptrend, with Chinese investors favoring US-focused ETFs. Chainlink experiences a rebound as large wallet investors strategically accumulate LINK tokens, triggering a price surge. Cryptocurrency markets are influenced by key levels, legal developments, and global investor trends.

Markets In Focus Today – ETHEREUM

Ethereum Nears A Recent Turning Point.

The crypto market cap remained at $1.65 trillion. Ethereum was a major growth driver, gaining 1.6% on the day to $2,350 and reversing to the downside as it approached $2,400. This is the same place where we saw a reversal at the end of January and for a month since the beginning of December. In December, the coin managed to hold above this reversal level for almost a fortnight, but with the current lull in the markets, a temporary pullback to the lower end of the range towards $2,200 looks more likely.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 2325.0890 | Positive Crossover | Bullish
• MA 20 : 2331.7122 | Positive Crossover | Bullish
• MA 50 : 2311.0629 | Positive Crossover | Bullish

Simple :

• MA 10 : 2317.9250 | Positive Crossover | Bullish
• MA 20 : 2319.9590 | Positive Crossover | Bullish
• MA 50 : 2346.5422 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.4167 | Buy Zone | Bullish

Stochastic Oscillator : 79.7122 | Buy Zone | Positive

Resistance And Support Levels :

• R1 : 2598.0773 R2 : 2733.3927
• S1 : 2160.0227 S2 : 2024.7073

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Stop Buy: 2377.15 | Take Profit: 2461.21 | Stop Loss: 2329.51

RIPPLE

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[Tushar_CSFX72]

Daily Crypto Analysis – Bitcoin, Ethereum surge, Chainlink mystery.

Introduction

Bitcoin sustains its uptrend as Chinese investors shift from the local market to US-focused ETFs. The price remains within the upper Bollinger Indicator range, potentially making a 5% move upwards to surpass the $43,750 hurdle. Ethereum gears up for gains with the Dencun upgrade on the Holesky testnet, while Uni-swap sees a 4.49% increase in the last 24 hours. A mysterious buyer acquires $42 million in Chainlink (LINK) tokens, sparking speculation and driving the cryptocurrency's surge.

Markets In Focus Today – BITCOIN

Bitcoin Price Sustains An Uptrend As Chinese Investors Stampede Out Of The Local Market In Favor Of US-Focused ETFs.

Bitcoin price is trading horizontally, trapped within the upper range of the Bollinger Indicator.BTC could make a 5% move north soon to clear the $43,750 blockade as volatility increases. A strong break and close below the center-line of the Bollinger at $41,880 would invalidate the bullish thesis.ETF specialist Eric Balchunas highlights how Chinese investors are flocking to the US ETF market. Bitcoin's (BTC) price continues to sustain its bullish outlook, holding above a key support level. Among other drivers, the spot BTC exchange-traded fund (ETF) theme continues to drive markets even as the investor countdown to the halving event continues.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 43262.1597 | Positive Crossover | Bullish
• MA 20 : 42887.8580 | Positive Crossover | Bullish
• MA 50 : 42343.4271 | Positive Crossover | Bullish

Simple :

• MA 10 : 43206.8140 | Positive Crossover | Bullish
• MA 20 : 42223.8335 | Positive Crossover | Bullish
• MA 50 : 43076.1382 | Positive Crossover | Bullish

RSI (Relative Strength Index): 61.6088 | Buy Zone | Bullish

Stochastic Oscillator : 91.3043 | Buy Zone | Positive

Resistance And Support Levels :

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 44614.62 | Take Profit: 45515.19 | Stop Loss: 43372.90

ETHEREUM

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[Tushar_CSFX72]

Daily Crypto Analysis – Bitcoin hits $46.2K, Ethereum $2,400.

Introduction

Bitcoin surges, marking a new high in crypto market capitalization since January 12, surpassing $1.75 trillion. Bitcoin's recent 10% gain, reaching $46.2K in four days, draws attention to its potential to break previous highs. Cardano (ADA) anticipates a 30% climb with a break above $0.5410, while Ethereum hits $2,400 fueled by ETF anticipation. XRP faces a potential decline below $0.50 amid uncertainty over an XRPLedger AMM amendment. Market dynamics suggest a revival, altering the outlook for Cardano and Ethereum.

Markets In Focus Today – BITCOIN

Bitcoin Rises Ahead Of Schedule.

The crypto market capitalization has hit new highs since 12th January, passing the $1.75 trillion mark. The market has confidently moved into a state of greed, which we also last saw a month ago. Last month's corrective pullback and early February's consolidation have helped gather strength for a real breakout. Bitcoin has gained almost 10% in the last four days to trade at $46.2K. All eyes are now on whether BTCUSD can break above the previous highs from which it pulled back shortly after the initial reaction to the launch of spot ETFs.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 44025.5288 | Positive Crossover | Bullish
• MA 20 : 43329.9591 | Positive Crossover | Bullish
• MA 50 : 42548.5755 | Positive Crossover | Bullish

Simple :

• MA 10 : 43669.4930 | Positive Crossover | Bullish
• MA 20 : 42517.1160 | Positive Crossover | Bullish
• MA 50 : 43150.4340 | Positive Crossover | Bullish

RSI (Relative Strength Index): 70.4534 | Buy Zone | Bullish

Stochastic Oscillator : 97.4049 | Buy Zone | Positive

Resistance And Support Levels :

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 45760.44 | Take Profit: 47362.01 | Stop Loss: 44781.71

CARDANO

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[Tushar_CSFX72]

Weekly Crypto Analysis – Bitcoin $47K, Ethereum $2.4K, Cardano bullish.

Introduction

Cryptocurrency stocks surge as Bitcoin surpasses $47,000, pushing the crypto market capitalization beyond $1.75 trillion. After a month of corrections, Bitcoin's 4.5% rise signals renewed market optimism. Ethereum hits $2,400 with ETF anticipation and 25% staking reducing selling pressure. XRP faces uncertainty with an AMM amendment, while Cardano's potential 30% surge is anticipated amid a market revival, breaking a descending triangle at $0.5410. The crypto landscape is evolving, showcasing signs of recovery.

Markets In Focus Today – BITCOIN

Crypto Stocks Leap As Bitcoin Crosses $47,000.

Bitcoin (BTC) crossed the $47,000 mark on Friday for the first time in almost a month, pushing crypto-related stocks into the green ahead of the stock market open. The leading cryptocurrency rose 4.5% in the past 24 hours, sitting at around $47,300 at the time of writing. The crypto market capitalization has hit new highs since 12th January, passing the $1.75 trillion mark. The market has confidently moved into a state of greed, which we also last saw a month ago. Last month's corrective pullback and early February's consolidation have helped gather strength for a real breakout.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 44664.8142 | Positive Crossover | Bullish
• MA 20 : 43733.5166 | Positive Crossover | Bullish
• MA 50 : 42746.0413 | Positive Crossover | Bullish

Simple :

• MA 10 : 44170.8670 | Positive Crossover | Bullish
• MA 20 : 42816.5615 | Positive Crossover | Bullish
• MA 50 : 43220.9448 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 71.9283 | Buy Zone | Bullish

Stochastic Oscillator : 88.5202 | Buy Zone | Positive

Resistance And Support Levels :

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 46150.40 | Take Profit: 48924.02 | Stop Loss: 44385.37

ETHEREUM

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[Tushar_CSFX72]

Daily Crypto Analysis – Bitcoin, XRP, Dogecoin, and Chainlink surge ahead.

Introduction

Bitcoin experiences a substantial rally, marking its most significant weekly surge in four months, reaching one-month highs. Analysts attribute the surge to increased buying activity ahead of April's halving event and a slowdown in ETF outflows. Meanwhile, XRP faces a slight dip as the SEC v. Ripple lawsuit nears the end of the discovery phase, with potential resolution as early as 2024. Dogecoin anticipates double-digit gains, breaking a declining trend line, while a Chainlink whale accumulates $84 million worth of LINK, sparking speculation of a potential surge in the cryptocurrency's price.

Markets In Focus Today – BITCOIN

Bitcoin Surges In Biggest Weekly Rally In Four Months.

Bitcoin rose to one-month highs, powered by what analysts said was a flurry of buying ahead of April's halving event and as recent outflows from exchange-traded funds slowed. BTC/USD longs had a splendid week. The major crypto has added an eye-watering +10.7%. Bitcoin hit a two-year high just above $49,000 in January but has since trended lower, under pressure from a "sell the news" wave of profit-taking after the Securities and Exchange Commission finally approved the ETFs.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 45819.8409 | Positive Crossover | Bullish
• MA 20 : 44541.3564 | Positive Crossover | Bullish
• MA 50 : 43165.7998 | Positive Crossover | Bullish

Simple :

• MA 10 : 45187.0510 | Positive Crossover | Bullish
• MA 20 : 43662.7295 | Positive Crossover | Bullish
• MA 50 : 43401.9354 | Positive Crossover | Bullish

RSI (Relative Strength Index): 72.5472 | Buy Zone | Bullish

Stochastic Oscillator : 92.9737 | Neutral Zone | Neutral

Resistance And Support Levels :

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 47324.88 | Take Profit: 48810.05 | Stop Loss: 46433.79

RIPPLE

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[Tushar_CSFX72]

Daily Crypto Analysis – Bitcoin hits $50K, XRP up 5%, Cardano inflows soar.

Introduction

Bitcoin breaks the $50,000 mark for the first time in over two years, potentially aiming for the psychological level of $60,000. However, caution is urged due to overbought conditions. Meanwhile, XRP sees a 5% weekly gain, reaching $0.5380, driven by a potential settlement in the SEC v. Ripple lawsuit. Cardano witnesses an extraordinary 1,016% increase in fund inflows, while Ethereum rallies over 5%, eyeing levels near $2,700 with the prospect of further gains.

Markets In Focus Today – BITCOIN

Bitcoin Hits $50k Level For The First Time In More Than Two Years.

Bitcoin price has nicked the $50,000 target, levels last tested on December 28, 2021.BTC could extend the gains to clear the $60,000 psychological level, last tested on November 21, 2021. Caution is advised as BTC is already massively overbought with the RSI reading well above 70. Bitcoin's (BTC) price revisited the late 2021 highs on Monday, a move that passes as a milestone for the BTC community. It comes ahead of the halving event and therefore sates the pace for what could kickstart the next bull cycle in the cryptocurrency market.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 46876.0334 | Positive Crossover | Bullish
• MA 20 : 45232.4102 | Positive Crossover | Bullish
• MA 50 : 43508.5833 | Positive Crossover | Bullish

Simple :

• MA 10 : 46083.1990 | Positive Crossover | Bullish
• MA 20 : 44257.4655 | Positive Crossover | Bullish
• MA 50 : 43566.6838 | Positive Crossover | Bullish

RSI (Relative Strength Index): 78.8759 | Buy Zone | Bullish

Stochastic Oscillator : 96.0546 | Buy Zone | Positive

Resistance And Support Levels :

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 48931.72 | Take Profit: 50429.87 | Stop Loss: 48105.15

RIPPLE

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[JakeReed]

It's quite the whirlwind in the crypto world, isn't it? Bitcoin's dancing around $41,000, Ethereum's wrestling with scalability issues, and Doge is, well, being Doge.