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TL;DR Breakdown

Avalanche price analysis is bearish today.Strong resistance present at $107.Avalanche trades for $63 as of now.

Today’s Avalanche price analysis shows a bearish trend gaining momentum with solid bullish possibilities. AVAX/USD is currently trading at $63, up 5.10% in the past 24 hours, with a trading volume of $1,288,191,997. The market capped yesterday in a crashing momentum and is opening today with hopeful bullish signs adding to yesterday’s crash below the $56 mark. In addition, the volatility increases, giving the bulls more opportunity for a tremendous comeback.

Yesterday saw a significant increase in bearish volume, which has decreased overnight, indicating that buying pressure for Avalanche remains relatively high. This increase in buying pressure will lead to a robust bullish future, with a significant increment in the AVAX/USD value.

RelatedPosts VeChain Price Analysis: VET/USD gains bullish potential at the $0.0550 mark Solana Price Analysis: SOL struggles for $100 Dogecoin Price Analysis: DOGE displays bullish momentum at $0.138 Enjin Coin Price Analysis: ENJ finds support at $1.4, quickly rejects back above $1.5 AVAX/USD 4-hours analysis: Latest developments

Avalanche price analysis indicates market volatility following a massive increasing trend, which means that AVAX/USD prices are increasingly prone to fluctuating volatility. The upper limit of the Bollinger’s band is at $90, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger’s band is available at $50, which serves as the most vital support.

The cryptocurrency price seems to have broken the support yesterday while following a downwards movement, resulting in a breakout. Following yesterday’s breakout, the cryptocurrency price has started moving upwards, reversing the market trend and allowing the bulls to come back stronger.

The price of AVAX/USD appears to cross over the Moving Average curve, signifying a bullish movement. However, bears have been taking care of the market for the last few hours, with the bulls just entering to disrupt the bears’ reign.

The Relative Strength Index (RSI) is 34, which puts cryptocurrency in an undervalued state. However, we can trace the RSI following a linear path in the undervalued region, indicating equivalence of selling and buying activities.

Avalanche Price Analysis for 1-day: Market enters a breakout.

Avalanche price analysis shows market volatility following a dormant trend, indicating that the probability of AVAX/USD experiencing fluctuations remains constant until the volatility fluctuates. The upper limit of the Bollinger band is present at $107, which acts as the most substantial resistance for AVAX. Conversely, the lower limit for the Bollinger band is present at $63, which serves as another resistance point for AVAX.

The price of AVAX/USD appears to be crossing under the Moving Average curve, indicating a bearish move. However, the market’s direction may seem to remain consistent over the last few days. Bears have taken the market, which weakens the stance of the bulls. It appears the AVAX/USD price has broken the support and has caused the market to enter a breakout allowing new possibilities in the market.

The Relative Strength Index (RSI) is 30, indicating an undervalued cryptocurrency. Furthermore, the price appears to follow an upward path in the undervalued region, exhibiting signs of the cryptocurrencys’ increasing value and movement towards stability and intense buying activity.

Avalanche Price Analysis Conclusion

The conclusion of the Avalanche price analysis indicates that the cryptocurrency behavior suggests that it is following a bearish trend with massive bullish potential. The market has recently fallen under bearish dominion but seems not competent enough to maintain it. However, they are already weary; the bulls are on the solid foot right now and might take over by storm in the coming days.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Narmin Yaseen

Narmin is a passionate writer and cryptocurrency enthusiast backed by psychology and statistics academics and strong writing background.

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The past hours saw a massive sell-off, causing an unexpected and enormous plunge to sub-$40K in the price of Bitcoin. The onchain data is showing an absolute capitulation phase in the market, which was intensified by long-term holders just before the crashing to $35K.

Long Term Analysis: The Daily Chart

Yesterday, Bitcoin lost a critical support range at $37K – $40K. As shown in the chart below, before the price decline beneath $40K, both 50-DMA and 100-DMA lines have crossed the 200-DMA to the downside, indicating further bearish momentum incoming.

Possible support levels are the current price area at $35K followed by $30K (May – July 2021 lows). On the other hand, the former support area ($40K) had turned into significant resistance if the price made a pullback from either of the two support areas mentioned. The daily RSI also indicates on massively oversold, currently sitting at the 20% mark, suggesting that a bullish pullback is possible over the short term.

Short Term Analysis: The 4-Hour Chart

Evaluating the last week’s price action on the 4-hour timeframe, it is evident that the price was under a heavy downtrend and got rejected at the 100-MA several times.

This time was no different, as the price dropped impulsively from $48K to $40K, went through a consolidation phase, and once again, got rejected at the 100-MA. This rejection triggered the next bearish leg down.

With the considerable spike in trading volume and the last couple of candles around the $35k support, we can expect another phase of consolidation before the market decides its next direction.

Onchain Analysis

Spent output profit ratio (SOPR) is a well-known on-chain metric that can map the “Capitulation” phase in a bear market.

The short-term holders have been selling or moving their coins after Bitcoin registered the recent November ATH at $69K. During the recent bloody days, short-term holders were panic-selling and realizing their losses. As you can see, the STH_SOPR metric has dropped to 0.95 during the last shakeout, which is a perfect explanation for the “Capitulation” event.

An interesting piece of data that completes the puzzle was the sudden spike in the LTH-SOPR before the recent price drop. This means some long-term holders may have tried to exit the market before the crash and by doing so, they intensified the negative momentum in the market.

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Despite the relatively long consolidation phase in the past few weeks, the options traders, alongside the on-chain metrics, are showing uncertainty. The fear on the macro scale is affecting both the cryptocurrency and stock market.

Options Market Analysis

This Friday, January 21st, approximately $538 million worth of Bitcoin options contracts will expire on Deribit. The max pain scenario is for the price to be at $43K for this expiry. Calls for the $44K strike price have the highest open interest. Puts for the $39k strike price have the highest open interest among put options.

Open interest for 21Jan_44k_C has increased since January 11th, and most of them are call buyers. Top Instrument OI change shows that maybe call option traders with $48K strike price orders were not optimistic about an increase in the price above this strike price ($48K) for this expiry anymore.

Technical Analysis

Due to the fear at the macro level, the cryptocurrency market is showing a great deal of uncertainty. While the BTC price remained above $40K, consolidation continues at the $40K-$43K range. Many of the participants believe that we are entering a bear market.

Meanwhile, others believe that the bull run is not over yet. We can use technical indicators to see past trends then anticipate the most possible scenarios. One of these indicators is the Ichimoku cloud. Tenkan-sen (conversion line) crossed down through Kijun-sen (baseline) in November on the daily time frame, indicating that the price is dropping. According to the DMI indicator, by moving –DI above +DI, a downtrend was confirmed.

Then, the $40K-$42K zone acted as solid support for the past few weeks. For bitcoin to hit the higher prices, Tenkan-sen must come back above the Kijun-sen and +DI>-DI. Otherwise, the $40K-$42K level will be tested again.

Short-Term Analysis

Bitcoin was moving within a descending channel since December on the 8-hour time frame. It broke out the channel on 12 January for the second time. The chart shows that in this time frame, the pullback was completed where the green level acted as good support. Simultaneously, the RSI was supported by the lower band of the Bollinger band. For now, bitcoin is trying to test the red level resistance, which is $44K. Possible resistances are shown in the chart.

Onchain Analysis

One of the well-known on-chain metrics that can map the “Fear” is the Net Unrealized Profit/Loss, which denotes the total amount of profit/loss as a ratio.

The value of this metric is interpreted through the ratio of investors who are in profit. An increasing trend in value means more investors are beginning to be in profit, and a down strand means the number of underwater participants is growing. At the moment, NUPL is approaching the same level (0.35) that the market was in July 2020. This is a perfect explanation for the obvious uncertainty among analysts.

The technical analysis and options market review is prepared by @N_E_D_A.

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The Friday crash had driven ETH below $2,500, wicking at $2,300 – a price not seen since July 2021.

Key Support levels: $2,300, $2,000.

Key Resistance levels: $2,500, $2,750, 3,000

This week’s market carnage was not kind to ETH, which recorded a daily close below $3,000 for the first time since the end of September. Furthermore, ETH saw a low of $2,300 on Bitstamp, at the peak of the collapse.

Since yesterday, ETH was able to rebound till encountering the $2,500 support turned resistance. After losing the $3,000 support, ETH likely entered a significant correction that may take months to recover.

Technical Indicators

Trading Volume: Very high volume was recorded during the selloff on Friday. The bears are in control.

RSI: The daily RSI also got slammed in line with the price, reaching 21 points and, just as Bitcoin, the RSI is currently deep in the oversold area. Price may enter a relief rally, but unlikely for the mid-term correction to end even if that happens.

MACD: Daily MACD quickly fell into the bearish territory with the histogram and moving averages expanding on the negative side. A reversal appears unlikely in the short term, as sellers completely control the market.

Bias

The bias for ETH is currently bearish. With the $3,000 support breakdown, ETH entered an intense correction.

Short-Term Price Prediction for ETH

It is unlikely that the correction will end anytime soon and any relief rally will only be temporary as ETH seeks a bottom. Until that is found, the next support level, should $2,300 fail, is located at $2,000. The next major resistance is $2500, followed by September lows at $2750.

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Bitcoin prices were trading at levels not seen since August, pushing below a key support level on Friday, as a selloff of perceived riskier assets spread to cryptocurrencies.

Bitcoin BTCUSD, -6.85%, the world largest crypto by market cap, slid more than 7% to $39,010, which took it below the key $40,000 level in a slide that began late Thursday. Ether ETHUSD, -9.22%, which runs on the ethereum blockchain, fell 8% to about $2,878, and XRP XRPUSD, -7.45%, Bitcoin Cash BCHUSD, -7.06%, Litecoin LTCUSD, -8.40% and Monero XMRUSD, -6.04% all posted sharp losses, according to Kraken data.

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The declines followed a volatile session on Wall Street that saw stocks swing from early gains to a selloff, repeating Wednesday’s action and notably for the Nasdaq Composite COMP, -0.96%, which pushed deeper into correction territory.

“The pessimism continues to grow among investors and traders when it comes to riskier assets and this is chiefly influencing the price of equities and bitcoin,” said Naeem Aslam, chief market analyst at AvaTrade, in a note to clients.

“The thing with bitcoin is that when it begins to fall, the price action drops like there is no tomorrow,” said Aslam, who added that January also tends to be a volatile month for the cryptocurrency on a historical basis.

He blamed the slide on several factors, among them a growing loss of status as a hedge against inflation for bitcoin and other crypto, with the Federal Reserve and other global central banks expected to begin bringing inflation under control with tighter policy.

Aslam also cited a proposal from Russia’s central bank on Thursday to ban the use and mining of cryptocurrencies. Russia is one of the world’s leading bitcoin mining locations, and joins China, which imposed its own ban on activity last year.

Oanda senior market analyst Edward Moya had predicted earlier Thursday that bitcoin could fall below $40,000 due to the Russian proposal.

The adoption mechanism also remains slow, said Aslam.

Aslam said the adoption mechanism seems to have slowed. “When Elon Musk announced that consumers could buy Tesla TSLA, -3.13%  with bitcoin, it pushed the bitcoin price higher. Before that, we had news that PayPal PYPL, -3.15%  started to accept bitcoin. Those kinds of news waves were highly supportive of the bitcoin price. Today, we are missing all that, and hence the bitcoin price is falling to find love among traders,” he said.”

Read: Dogecoin flies after Elon Musk tweets some Tesla merchandise can be bought with the meme coin

Bitcoin prices are down 16% in January, and have tumbled 36% over the past three months.

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TL;DR Breakdown

The global crypto market continues to recede, losing 11.31% in 24 hours. Bitcoin continues its loss journey, dipping 8.46% in 24 hours. Binance Coin also finds no respite and suffers a loss of 13.57%. Cardano and Shiba Inu also continued retrogressive, losing 12.78% and 24.70% in 24 hours.

The market is continuing a difficult journey as new investments are reducing while the investors are losing. The market began to change in December when the fluctuating situation led to the unreliability of prices. The negative situation has continued since then, and the only minor change was that of small moments of respite for currencies. The leading name in sufferings was bitcoin, and the pattern hasn’t changed.

There is no denial that other coins are also going through dips, but the market dominance and bulk of bitcoin make it suffer more. The changes in the market have also impacted crypto exchanges, and the leading names include Binance and FTX. These two exchanges suffered a combined loss of more than $2 billion. The reader can guess the amount of losses for other exchanges.  

Many currencies have receded to new levels, and some are witnessing their all-time lows. Cardano is one of them which is going through its hardest days. There are hopes for the normal days, but the current bearishness seems to last more. So, it is yet unknown how long investors will have to wait for the bullish times.

HIDE 1. BTC has a firm foot on reverse gear 2. BNB finds no option except recession 3. ADA hits all-time low 4. SHIB needs a relief 5. Final Thoughts RelatedPosts Bitcoin Price Analysis: BTC finds support at $34,000, quickly reacts higher Bitcoin, Ethereum, Solana, Dogecoin Daily Price Analyses – 21 January Roundup Polkadot price analysis: DOT to step into the $21 range as it continues lower at $22 Twitter announces NFT profile pictures: Elon Musk is furious

Here is a brief overview of the major currencies like bitcoin, Binance Coin, etc.

BTC has a firm foot on reverse gear

Experts have raised eyebrows at the purchase of 410 bitcoin by the El Salvador government. Many refer to this deal as the purchase of loss, but the government representatives say that it is an investment in the future, as the prices will rise. It is yet to be seen what will be the investment results.

For the last twenty-four hours, the data tells a sorry tale as bitcoin has been through a hard time. The loss for the last 24 hours is about 8.46%, while the loss for the last seven days is about 17.69%. The data shows that it has affected the bulk of bitcoin in recent days.

If we look at the graph for the recent days, it shows a continuous loss for the last few weeks. The current bitcoin price is $35,417.97, while the loss has affected it, bringing it down from $43K recently. The current market cap for bitcoin is estimated to be $670,704,910,210.

The trading volume of bitcoin for the last 24 hours is about $50,050,036,021. If the market improves, there are chances that bitcoin will also improve.

BNB finds no option except recession

Binance Coin is also going through a hard time, as it has received blows at the hands of investors. The loss of almost 13.57% in 24 hours has taken it back to the fourth position, which it had clinched from Tether. The price for Binance has also suffered due to ongoing changes, and it is estimated to be $365.17.

While the losses for the last seven days are about 25.79% which means it has lost a quarter of its value recently. The changes might continue for a long, slashing it of its value. The current market cap for the said coin is about $59,514,871,340.  

The trading volume for this coin for the last 24 hours is $4,467,667,614.

ADA hits all-time low

Cardano has been no different from bitcoin in losses as it has touched new lows. The data for the last 24 hours tells of a loss of 12.78%, while the weekly loss amounts to 17.78%. The current price for the said coin is about $1.04, while the ranking is 6th.

If we take a peek at the current market cap for Cardano, it is about $34,462,779,684. At the same time, its trading volume for the last 24 hours is about $3,607,063,928.

SHIB needs a relief

Shiba Inu has suffered a loss of 38.71% while it desperately needs relief. But there is no such good news as it has suffered a loss of 24.70% in 24 hours. The mentioned blows have brought its price down to $0.00001902.

The current market cap for Shiba Inu is estimated to be $10,443,749,034. While if we compare it to the trading volume, it is estimated to be $1,874,396,038. The mentioned trading volume can be converted to the native currency equal to 98,543,351,739,047 SHIB.

Final Thoughts

The market is going through continuous recessions, and the suffering has taken the market value to $1.61T. The new blows are severe compared to December 2021 and might slash the value further. The investors are pulling out their money to ensure that it is safe from the ongoing changes. The result is evident from the market size reduction and might continue further.

The only solution to this problem is stability which can be achieved if bitcoin and other leading coins keep their prices stable. There is nothing impossible, and it might happen soon. 

Muhammad Ali

Muhammad Ali is an expert on crypto investments. Loving to write about fintech, he joins the team to provide detailed analyses of the hottest crypto news.

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Thailand’s Committee on Monetary Affairs, Finance, Financial Institutions and Financial Market conducted a virtual meeting to discuss various aspects of crypto taxation.

The ruling party MP Watanya Wongopasi posted a summary of the discussion on her Facebook page and urged the Excise department to do their due diligence before imposing any tax on the crypto trading market.

In the meeting, Paiboon Nalinthrangkurn, the chairman of the Federation of Thai Capital Market Organisations noted that a tax on stock trading and digital asset trading could decrease market liquidity by 40%. He also warned that heavy taxation would deter foreign and small investors from trading.

Yutthana Srisavat, the CEO and founder of iTax proposed a corporate tax or a value-added tax instead of imposing a trading tax. He also made it clear that the decentralized nature of crypto makes it extremely difficult to gather buyer and seller information, making it near impossible to collect tax information.

The Thai Excise department noted that the majority of its focus has been on taxing the stock market, and it has made little progress in terms of crypto trading taxation. However, the department assured that they are carefully studying the crypto market and the taxes will be only imposed after careful consideration.

Chonladet Khemarattana, president of the Thai Fintech Association advocated for a free market to compete with other nations. He urged the government to monitor the growth of the crypto ecosystem in the short term before moving on with tax implementation.

Crypto taxation has become a hot topic in Thailand especially after the government proposed a 15% tax on crypto gains. Several current and former executives have come out to warn against the proposal, including former Thai SEC executive Tipsuda Thavaramara. As Cointelegraph reported earlier, Thai Prime Minister Prayut Chan-o-cha has instructed the revenue department to offer clarification for investors and the public on crypto taxation soon.

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Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

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Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

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Over the past 24 hours, Solana’s (CRYPTO: SOL) price has fallen 16.61% to $118.68. This continues its negative trend over the past week where it has experienced a 19.0% loss, moving from $147.41 to its current price.

The chart below compares the price movement and volatility for Solana over the past 24 hours (left) to its price movement over the past week (right). The gray bands are bollinger bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has increased 31.0% over the past week while the overall circulating supply of the coin has increased 1.74% to over 314.52 million. The current market cap ranking for SOL is #7 at 37.72 billion.

Where Can You Buy Solana?

If you are interested in purchasing Solana or want to learn more about it, follow this link to Benzinga Money. Our Benzinga Money team has in-depth educational content that not only explains the details of the coin itself but also how and where you can purchase it.

Do you want to learn more about trading and be able to analyze your own portfolio of stocks or cryptocurrencies? Consider signing up for Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy. You can follow the link here to visit.

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CryptocurrencyMarketsMoversTrading IdeasLicenseRelated Articles Wonderland, Secret Among Top Crypto Movers In 24H According to Benzinga Pro, the following are the crypto gainers and losers at the time of publication: read more Cryptocurrency Solana Decreases More Than 5% Within 24 hours Solana's (CRYPTO: SOL) price has decreased 5.48% over the past 24 hours to $143.48. This is contrary to the coins performance over the past week where it has experienced an up-trend of 7.0%, moving from $133.0 to its current price. read more Cryptocurrency Solana's Price Increased More Than 5% Within 24 hours Solana's (CRYPTO: SOL) price has increased 5.71% over the past 24 hours to $150.67, which is in the opposite direction of its trend over the past week, where it has experienced a 8.0% loss, moving from $164.72 to its current price. As it stands right now, the coin's all-time high is $259.96. read more Cryptocurrency Solana Decreases More Than 4% Within 24 hours Over the past 24 hours, Solana's (CRYPTO: SOL) price has fallen 4.71% to $133.36. This continues its negative trend over the past week where it has experienced a 22.0% loss, moving from $173.93 to its current price. read more

Ethereum (CRYPTO: ETH) is trading lower Friday, falling lower in a crypto market that has been moving bearishly in recent weeks. Ethereum is nearing the very long-term higher low trendline and needs to hold above it to see a multiyear upward trend continue.

Ethereum is down 15% over 24 hours at $2,723.26.

Ethereum Daily Chart AnalysisEthereum has fallen to the higher low trendline and is looking to see a bounce off it to continue the upward trend. The $4,000 level has been an area of resistance in the past and may continue to trade in the long term ascending triangle pattern until either the trendline is broken or the flat top resistance level is broken.The crypto trades below both the 50-day moving average (green) and the 200-day moving average (blue), indicating the crypto is seeing recent bearish sentiment. Each of these moving averages may hold as an area of resistance in the future.The Relative Strength Index (RSI) saw a dip lower Friday and has been trending lower overall. The RSI has fallen and now sits at 27, pushing into the oversold region and showing that many sellers have been moving into the crypto.What’s Next For Ethereum?

Ethereum is falling toward the higher low trendline and this shows that bears have been pushing into the crypto. The higher low trendline is an area where the crypto has always been able to bounce back.

Ethereum needs to see a bounce back or the crypto could begin seeing a long term bearish trend. Bears are looking for a break below this trendline and for the crypto to hold below the moving averages. Bulls are looking to see the crypto bounce off of this area and continue to form higher lows in the long term trend.

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CryptocurrencyLong IdeasShort IdeasTechnicalsMarketsMoversTrading IdeasLicenseRelated Articles Why Bitcoin- And Ethereum-Related Stocks MicroStrategy And Hut 8 Are Falling Today Shares of crypto-related stocks, including MicroStrategy Incorporated (NASDAQ: MSTR) and Hut 8 Mining Corp (NASDAQ: HUT), are trading lower during Friday's after-hours session amid a decrease in the pr read more Cryptographer IDs Critical Metamask Privacy Vulnerability Metamask is a crypto wallet and gateway for accessing decentralized apps (DApps) built on the Ethereum (CRYPTO: ETH) blockchain. A cryptographer addressed a security loophole that can put 21 million users at risk. read more Virtual Land Just Sold For 18,500 MANA In Decentraland What happened: Virtual land tokenized as an NFT just sold for $45,510, which is 3.67x the current floor price of 4.41529923 Ethereum (CRYPTO: ETH) ($45,510 USD). The collection consists of over 97,000 plots of land –– at the current moment each plot Land parcels are 16m x 16m, or 52 square feet. read more Metaverse Land Just Sold For $49,200 (20,000 MANA) In Decentraland What happened: Virtual land tokenized as an NFT just sold for $49,200, which is 3.97x the current floor price of 4.41529923 Ethereum (CRYPTO: ETH) ($49,200 USD). The collection consists of over 97,000 plots of land –– at the current moment each plot Land parcels are 16m x 16m, or 52 square feet. read more

Litecoin Price Dumps Closer to $100– January 22 There has been a heavy declining-moving nature in the LTC/USD market activities as the crypto-economic price slumps closer to the $100 line. The market, as of writing, has been trading between the high of about $117 and $105 lines. The crypto keeps a percentage rate of about 7.43 negatives. Litecoin Price Dumps Closer to $100: LTC Trade Key Levels: Resistance levels: $120, $130, $140 Support levels: $100, $90, $80 LTC/USD – Daily Chart The LTC/USD daily chart showcases the crypto-economic price slumps closer to $100. The downward force has been immersive, able to breach the $125 level to the downside in the bearish channel trend lines. The 50-day SMA indicator is underneath the 14-day SMA indicator. The Stochastic Oscillators have moved southbound slightly past the range of 20 into the oversold region. The downward force is prevailing in the market at the expense of bulls’ weaknesses to push back northward presently.

Buy Bitcoin NowWill the LTC/USD market fall more as the crypto-economic price slumps closer to $100?

There may still be more downward motions, stagging against the LTC/USD trade at the $100 as the crypto-economic price slumps closer to the value line. A quick-rebounding moving effort is to resurface beneath the value line to set back the market on a recovery mode potentiality in no time. Therefore, the long-position takers may have to stay alert when that presumed scenario tends before deciding to go for a long position order. On the downside of the technical analysis, the LTC/USD market short-position takers may now have their capacity mustered beneath the $125 trading level to keep a long dominance in the crypto business operations. Consolidation of the bears’ efforts around the value line mentioned will allow the market to get more advantages of forcing the price further to a lower trading spot in the long run.

In comparison, Litecoin has been downsizing in its trending capability as paired with Bitcoin. The cryptocurrency pair price slumps southward beneath the trend lines of the SMAs. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic oscillators are down close to the range of 20, indicating the possibility of getting to see the base crypto on the verge of losing more momentums to the chieftain counter crypto in the subsequent sessions.

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How to buy LitecoinHow to buy cryptocurrencyAzeez MustaphaPRO INVESTORauthor

Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

View all posts by Azeez Mustapha Ethereum Price Prediction: ETH/USD Price Downturns, Averaging $2,500Azeez Mustapha&bulletUpdated: Updated:&bulletUpdated:

Price Downturns, Averaging $2,500 – January 22There has been a continual falling price outlook ...

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Price Downturns, Averaging $2,500 – January 22 There has been a continual falling price outlook in the ETH/USD market operations as the crypto-economic price downturns, averaging $2,500. The crypto economy’s percentage rate is around 0-16, denoting a slow-moving pace to the downside as of writing. Price Downturns, Averaging $2,500: ETH Market Key Levels: Resistance levels: $2,750, $3,000, $3,250 Support levels: $2,500, $2,250, $2,000 ETH/USD – Daily Chart The ETH/USD daily chart shows the crypto-economic price downturns, averaging $2,500. The bearish channel trend lines have now taken a full-fledged course as the upper part is drawn closely beneath the smaller SMA to the southward side. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic Oscillators are southbound positioned briefly into the oversold region. The current bearish trading outlook hasn’t had a significant exhaustion sign to suggest an end to the downward force presently.

Buy Bitcoin NowAre there still reliable downward forces in the ETH/USD market as the crypto-economic price downturns, averaging $2,500?

The ETH/USD market have not witnessed a significant sign of exhaustion as the crypto-economic price downturns, averaging $2,500. It would take long-position takers some time of being patient to get a decent rebounding motion around the value line. A long-hold of positions around the same point mentioned earlier can lead to the emergence of convergences afterward. If that will have to be the situation eventually, traders will have to suspend exerting positions until a definite move features. On the downside of the technical analysis, the ETH/USD short=position takers needed to continue to build more strengths on the present downward force beneath the resistance value line of $2,750. There may be a pit stop at $2,500 to allow the market has a respite before diving in a direction. A sudden aggressive breakdown at the value line may cause an extension of the downward trend to achieve a lower trading support point in the long run.

ETH/BTC Price Analysis

In comparison, Ehereum, as the base trading instrument, has been under a countering-falling force inflicted on it by Bitcoin over a couple of sessions. Alternatively, the cryptocurrency pair price downturns, averaging a lower support level underneath the trend lines of the SMAs. The Stochastic Oscillators have bent southbound into the oversold region. And they still point to the south, signaling that the downward pressure is ongoing. That showcases that ETH is yet to get over succumbing to the declining force as paired with BTC.

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How to buy EthereumHow to buy cryptocurrencyAzeez MustaphaPRO INVESTORauthor

Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

View all posts by Azeez Mustapha Bitcoin (BTC) Price Prediction: BTC/USD Slumps and Pauses above $36k, May Revisit $30kAzeez Mustapha&bulletUpdated: Updated:&bulletUpdated:

BTC Price Continues Bearish Run as It May Revisit $30k – January 21, 2022 ...

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Table of Contents:

Which Cryptos Will Survive a Bear Market?Contagion in the Crypto MarketWhy Choose Cryptos That Will Survive the Bear Market?How to Pick a Balanced Crypto PortfolioWhich Cryptos Should You Pick?How to Identify the Best CryptosHow to Conduct Due Diligence on CryptosCrypto White Paper AnalysisThe Project and the Competing BlockchainsThe Team and the CommunityThe Hash RateTransaction Value and FeesTokenomicsThe Bottom Line

Important: The information herein does not constitute investment advice. Remember that the value of your investments and any income from them can fall as well as rise, and you could get back less than you invest or completely lose your funds. If you are unsure about the suitability of investments please seek advice.

Just like the economy, the crypto market is cyclical and it’s no secret that it is prone to severe, unexpected and often unprecedented volatility. For traders, this volatility is welcomed, even sought after. For those HODLing cryptos, this is a headache that most wish they could avoid as which cryptos will survive a bear market becomes harder to tell.

The bad news is that there’s no avoiding the volatility in the crypto market, but the good news is that you can structure your crypto portfolio by aiming to select cryptos that can survive the bear market.

This doesn’t mean these cryptoassets won’t drop during a bear market; it means that they will, on average, recover when the trend turns bullish.

In this article, we will go through how to analyze and pick the best cryptos for your portfolio.

In a market driven almost entirely by sentiment, no crypto is immune to contagion and most of it is tied to BTC. Where bitcoin goes, others tend to follow. In the crypto market, bitcoin is king, and, in most cases, its fluctuation drags the entire market down. This correlation isn’t of 100%.

At some point, some cryptos will recover quicker than others and go on to newer highs, while some may crash and never recover. How hard a cryptoasset crashes often comes down to its fundamentals.

Well, the answer here is pretty straightforward – capital preservation. The primary goal of any investment is to make profits. This makes selecting most resilient cryptos extremely important. It’s even more crucial to select cryptocurrencies that can survive bear market conditions and preserve their value. Let’s see how you can accomplish this.

Cryptoasset returns have, over the last decade, been well above those of equities markets, with Bitcoin greatly outperforming both gold and the S&P 500 over the past 10 years. Risk can be reduced with a balanced portfolio, but resilience is crucial in the cryptocurrency space as every market downturn takes its toll.

Nearly 1,700 cryptocurrencies have completely lost their value over the last decade, while some have simply lost most of theirs over time. Looking at the top cryptocurrencies and their price performance may make it look like investing in cryptoassets is easy, but in reality a lot of research is required.

The first step to surviving a bear market is, according to most experts, choosing a balanced portfolio. As the saying goes, never put all of your eggs in one basket. This is where diversification comes in.

By diversifying one’s investments, you effectively guarantee that any negative volatility experienced in one crypto won’t significantly dampen your returns from the market.

Portfolios invested in various crypto asset classes mitigate strategic risk more successfully. Various cryptocurrencies underpin different crypto projects. This means that you can diversify your crypto portfolio based on the crypto project or the type of cryptocurrency.

Understandably, it may be impossible to conduct thorough due diligence on all these cryptos. That is why investing only in blue-chip coins with proven track records may be an optimal strategy for more risk-averse investors.

Considering the tokens associated with new crypto projects is also a possibility, although it’s worth pointing out that it’s entirely possible to lose all the money you invest in these for a number of reasons that include potential scams, projects failing to achieve their goals, and security risks. Note that the crypto community is on a mission to continually address scalability, absolute privacy, and interoperability problems.

Gauging  which cryptocurrency has utility and which one doesn’t is critical. Investing in cryptocurrencies with utility ensures that you do not tie your money up in Ponzi schemes.

When selecting cryptocurrencies that will survive a bear market, it’s better to consider picking cryptos from a few asset classes and their financial metrics such as market capitalization, liquidity, circulating supply, and the traded volume. This type of data is accessible at CryptoCompare.

When selecting cryptos for your portfolio, most experts advise a strong allocation to BTC. The altcoins included could be from various segments of the market – exchange tokens, DeFi tokens, security tokens, utility tokens, Metaverse cryptos, Web3 tokens, and governance tokens.

No one can safely identify which cryptos will survive market crashes. Bitcoin has so far managed to stay afloat every bear market and quickly recovered when things turned bullish and is seen as a de-facto safe haven without the space if we count out stablecoins.

Even betting on stablecoins is seen as a risky endeavor to some investors, as the backing behind some of the largest ones in circulation isn’t completely transparent. Similarly, gold-backed cryptocurrencies often have a trusted central entity behind them, creating a single point of failure.

There is only one solution to maximize your chances of making good investments – thorough analysis. In cryptocurrency, two different types of analysis are often used:

Fundamental analysis to determine the intrinsic value (the “real value”) of a token and its potential.Technical analysis to forecast possible future price fluctuation.

Fundamental analysis will tell you where to invest, and technical analysis will tell you when to invest. If you neglect fundamental analysis, you risk placing your money on projects with no real value; you probably risk investing in poorer quality coins.

If  you neglect technical analysis, you risk entering at the wrong time and staying in the red for weeks or months, simply losing the opportunity to have been able to acquire many more tokens for the same price.

While there are hundreds of strategies for technical analysis, picking the best crypto that can survive the bear market requires thorough fundamental analysis, which we will focus on next.

The fundamental analysis of a cryptocurrency is similar to that of a start-up. Yes, blockchain or decentralized applications (dApp) projects are very similar to start-ups – they seek to create value by innovating.

Not in use --> Not in use -->

 Once we have evaluated all fundamental aspects of any crypto, we will be in a much better position to evaluate whether or not it can survive a bear market. Note that the blockchain metrics of any crypto, such as the hash rate, the number of active addresses, and the transaction values and fees, can be accessed from various websites while also being available on CryptoCompare’s advanced charts.

Below are some of the steps investors should consider when conducting due diligence on the cryptoassets that they are considering investing in. Their research should not be limited to these steps nor should it be dependent on anything written in this guide.

For any crypto investor, the white paper provides a treasure trove of technical information outlining the details of the project.

When conducting fundamental analysis, it’s important to consider the crypto whitepaper as your gateway into the details of the project. The whitepaper also details the project’s roadmap, outlining the planned rollout of new features to the blockchain. Here are the critical questions that the white paper addresses:

What does the project do?What problem does it aim to solve?How does this project solve the problem?Token economics

As we mentioned earlier, the crypto community continually addresses scalability, absolute privacy, and interoperability problems. These issues can be used as a yardstick to measure the usefulness of an altcoin.

Take Ethereum, for example. Its massive success can be attributed to its contribution to the kick-starting and further development of decentralized finance. Ethereum gave crypto developers globally a platform to build their decentralized applications.

The key here is to identify and invest in cryptos that aim to solve real-life problems, like how XRP  aims to revolutionize the real-time gross settlement system in global finance. Note that it is not always easy to determine the market of a blockchain. In this case, study the use cases for the token.

By establishing the competing blockchain, you can assess the viability of specific crypto over the other. The objective here is to assess the relevance of a crypto project. Will it be able to capture market share? Could it become the market leader?

Questions:

Which blockchains are in direct competition?Do the competing blockchains have a better infrastructure?What are the evolutions in the use of the project so far? Is it solving a specific problem in the crypto space?

Most crypto users have heard of the Solana blockchain being referred to as the “Ethereum killer.” In this case, the Solana blockchain is Ethereum’s direct competitor.

Ethereum has the first-mover’s advantage over Solana, but comparing the two side by side, Solana has a significant fundamental advantage over Ethereum. The biggest is that the Solana network can handle several transactions per second compared to Ethereum while keeping transaction costs low.

It’s estimated that Solana can handle more than 60,000 transactions per second at an average of $0.0015 per transaction, while Ethereum only processes 17,000 at an average cost of $5.80.  As DeFi continues to gain mainstream popularity, Solana is one of the few public blockchains that can comfortably reach a scale of millions of transactions per second.

On the other hand, Solana relies on a central entity to develop node software, the Solana Foundation, while several develop node software for Ethereum. The difference here may mean a higher degree of centralization for the so-called “Ethereum killer.”

The team’s credibility behind a crypto project is as important as the project itself.

Questions:

Who are the founders and what are their academic and professional backgrounds?Which companies back the project and what’s the ownership and governance structure?How many people are working on this project? Three people in a garage? Or a diverse team of engineers across the globe?How big is their community? How many active blockchain addresses are there?

It’s worth noting that developers specializing in blockchains and dApps are scarce in the crypto world, and the marketing/sales team is not to be neglected either. An explosive trading strategy helps to attract attention to the crypto project, effectively growing the community and attracting more talent to the developers’ team.

For Proof of Work blockchains, the hash rate is the processing power available on the network for mining. For most investors, the hash rate is considered a measure of how secure a blockchain is – this means the higher the hash rate, the more secure the blockchain. It plays a crucial role in preventing 51% attacks and double-spending.

Questions

What is the current hash rate compared to other cryptos?Is the hash rate increasing or decreasing?

Typically, hashrate is measured in hash per second (h/s).

Hash rate denominations

1 kH/s is 1,000 (one thousand) hashes per second1 MH/s is 1,000,000 (one million) hashes per second.1 GH/s is 1,000,000,000 (one billion) hashes per second.1 TH/s is 1,000,000,000,000 (one trillion) hashes per second.1 PH/s is 1,000,000,000,000,000 (one quadrillion) hashes per second.1 EH/s is 1,000,000,000,000,000,000 (one quintillion) hashes per second.Transaction Value and Fees

The values of transactions and the fees paid per transaction help determine the demand for the crypto.

Questions

How has the transaction value changed over time?Are the number of transactions increasing or decreasing, and how much fees are paid per transaction?

Naturally, when the transaction values are consistently high, it means the crypto is in steady circulation, which corresponds to high liquidity, implying that price discovery is efficient. On the other hand, the fees paid show the crypto demand. When you analyze the fees paid over time, it’s easy to deduce how secure the blockchain is.

Tokenomics essentially deals with how the tokens are supplied and their utility. When analyzing tokenomics, you should have the following questions in mind:

What is the token used for? Does it have any use in the project? Is this utility artificial, or does it correspond to a real need?Is there a max supply of tokens (maximum number)? Is the token deflationary?If not, how quickly will the new tokens be created? To whom will they be distributed? Estimate current inflation: Will demand for the token rise faster than inflation? How will token creation be handled in the future? Who will govern these decisions?Can you use your tokens to grow your stack (staking, yield farming, etc.)?How many tokens are currently in circulation compared to the max cap (if there is one)?What ratio do the team and early investors have? How are tokens distributed?The Bottom Line

When choosing cryptos that will survive the bear market, the key is to invest in cryptocurrencies with real projects and communities behind them. Most people treat cryptos as speculative assets but don’t realize that these coins are tied to real projects – blockchain projects meant to solve a real-world problem. Take XRP and Stellar (XLM), for example.

They aim to facilitate fast, cheap, and transparent global money transfers. Ethereum and EOS, on the other hand, are designed to facilitate the growth of decentralized finance by creating platforms where smart contracts can be used to convert any tangible asset into crypto and streamline the functions of centralized finance into DeFi.

Featured image via Unsplash.

Which Cryptos Will Survive a Bear base-and-mastercard-join-forces-to-make-buying-nfts-much-easier/ --> -->

Cardano price witnessed an exponential increase over the past week and showed signs of slowdown as it approaches a massive hurdle. Investors can expect ADA to retrace and recuperate before it embarks on another leg-up.Cardano price looks weary

Cardano price rose 53% after piercing the $1.02 to $1.20 demand zone on January 10. This impressive uptrend set a swing high at $1.64 inside the daily supply zone, extending from $1.54 to $1.76.

Interestingly, this area also harbors the weekly resistance barrier at $1.68, making this blockade a formidable one. Therefore, the logical outlook for ADA is a retracement. Although the scenario might seem bearish, it is necessary for the so-called “Ethereum killer” to kick-start a new upswing.

Investors can expect Cardano price to retest the weekly support level at $1.46 on its way down. It is unlikely that this foothold will absorb all of the selling pressure, so market participants can expect ADA to slide lower and tag the $1.31 platform.

In total, ADA this journey would constitute an 18% descent.

ADA/USDT 6-hour chart

Supporting this retracement thesis for Cardano price is IntoTheBlock’s Global In/Out of the Money (GIOM) model. This index shows massive clusters of underwater investors that could stop the uptrend dead in its tracks.

This hurdle extends from $1.71 to $2, where roughly 379,000 addresses purchased 3.77 billion ADA at an average price of $1.87. This area overlaps with the resistance barriers described from a technical standpoint, confirming the bearish outlook.

ADA GIOM

While things are looking temporarily grim for Cardano price, a six-hour candlestick close above the daily supply zone’s upper limit at $1.76 will alleviate a part of the selling pressure and invalidate the bearish thesis.

Market participants should consider this scenario due to the recent increase in daily active addresses (DAA) from 123,100 on January 6 to 135,080 on January 17. This 9.7% increase indicates that investors are interested in ADA at the current price levels.

ADA DAA 

Investors should note that beyond $1.76, Cardano price will face multiple weekly resistance barriers at $1.87, $2.04, $2.21. Therefore, the uptrend will not be a walk in the park and will likely be choppy.

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Cryptos feed-->  Latest Crypto News Latest Crypto News & Analysis Editors’ PicksEthereum Price Prediction: ETH runs risk of sliding 14% as crypto market weakens

Ethereum price has dropped below two significant footholds on January 21, as selling pressure increased. ETH could be at risk of declining an additional 14%, a pessimistic forecast given by the bearish chart pattern. 

More Ethereum NewsBitcoin Weekly Forecast: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

More Bitcoin NewsDecentraland Price Prediction: MANA relief rally capped at $3

Decentraland price has been on a massive bear trend since its all-time high in late 2021. The collapse of this metaverse token seems to be pausing as MANA trades inside a demand zone.

More Decentraland News MATIC falls below critical support, a move to $1.70 may be next

A brief technical and on-chain analysis on Polygon price. Here, FXStreet's analysts evaluate where MATIC could be heading next.

More Polygon NewsBTC eyes retest of $50,000

Bitcoin price shows a resurgence of retail interest as it bounced off a crucial psychological level. The recent uptrend is preparing a base on a short-term time frame so BTC can kick-start a larger leg-up. Interestingly, on-chain metrics are lining up with the bullish outlook portrayed from a technical perspective. An uptrend now seems inevitable for BTC and, therefore, the larger ecosystem.

Read full analysis BTC ETH XRP Crypto partners in your location

The BTC/USD coin failed to extend its upward rally of the previous day, dropping more than 6% below the $40,000 level, with the last trading at about $38,800 at the time of writing. Bitcoin started a substantial decline from the $43,500 resistance against the US Dollar. However, BTC is still vulnerable to further losses below the $38,300 support. The downfalls occurred after Russia’s central bank suggested a ban on the use and mining of cryptocurrencies on Thursday.

Russia is one of the most popular Bitcoin mining regions on the planet. Because of the Russian plan, senior market analyst, Edward Moya of Oanda, predicted that Bitcoin would go below $40,000 on Thursday. If BTC does not begin a new upward trend over $40,500, it may begin a new downward trend.

On the downside, there is immediate support near the $39,500 level. The first major support can be found at or near the $39,200 level. A breach below the $39,200 support zone could trigger another significant drop. The next significant support is near $38,500, and if the price falls below that level, it could continue down to below the $38,000 mark. The BTC/USD coin is trading near the 38,771.3 level and consolidating in the range between 38,300.8 and 41,104.6.

 BTC/USD

The reason for the ongoing downward trend in BTC could also be attributed to the downbeat sentiment in the crypto market, which tends to damage investor confidence. The declines in cryptocurrencies began after Russia’s central bank suggested a ban on the use and mining of cryptocurrencies on Thursday.As a result, Bitcoin (BTC/USD), the world’s most valuable cryptocurrency by market capitalization, fell by more than 6%, sinking below the $40,000 threshold, with the last trading at midnight on Thursday at around $38,800. Meanwhile, US lawmakers are scrutinizing Bitcoin yet again, as concerns mount over the type of energy used in the power-hungry mining process.

Meanwhile, US lawmakers are once again examining Bitcoin as concerns about the type of energy utilized in the energy-intensive mining process grow. This news has yet to affect the price performance. As usual, the biggest critic has been anti-crypto senator, Elizabeth Warren, who reaffirmed her concerns about Bitcoin’s (BTC) mining energy consumption. On January 20, the House Energy and Commerce Committee held a hearing titled “Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains.” Warren claimed in a statement that Bitcoin mining’s high energy consumption and carbon emissions might “erase much of our progress to address the climate crisis.”

Elsewhere, the weakness of the broad-based US dollar, triggered by inflation fears, was seen as one of the key factors that helped limit the losses in BTC/USD. In Asia, the broad-based US dollar was down on Friday morning. Fears that inflation will remain high and that the Federal Reserve will tighten monetary policy in the United States soured the market sentiment, causing the safe-haven Japanese yen to gain ground against the riskier Australian dollar.

The US Dollar Index, which measures the value of the US currency compared to a basket of other currencies, fell by 0.06 percent, to 95.665. In the late hours of trading on Friday, US stocks suffered a strong selloff, while Asian counterparts were also down. As a result, treasury yields in the United States have fallen from multi-year highs. On the other hand, rates in the United States rose, due to market expectations that the Federal Reserve will tighten monetary policy sooner than expected.

Weekly Cryptocurrency Summary – Ethereum (ETH/USD)

During Friday’s Asian trading day, the price of Ethereum failed to put a stop to its early-day bearish moves, drawing further offers near the $2,900 level. Ethereum has continued to fall below the $3,000 support level. In the short term, the price of ETH may continue to drop towards the $2,650 support level. Ethereum has begun a significant slide after failing to gain strength above the $3,250 barrier.

There was a significant drop below the $3,120 and $3,050 support levels. The price even plummeted below $2,900, trading as low as $2,808. It is currently consolidating losses above $2,800. There is some initial resistance near the $2,900 level. If Ethereum does not begin a recovery wave over $2,900, it may decline.

On the downside, $2,820 serves as an initial support level. The first major support has formed at the $2,800 mark. On the downside, a breach below $2,800 could signal the start of yet another steep fall. The next big support for the bulls may be found near the $2,650 level. Any further declines could drag the price below $2,500. At the time of writing, the ETH/USD coin was trading near the 2,846.27 level, and consolidating in the range between 38,300.8 and 41,104.6.

 ETH/USD

However, the selling trend in Ethereum, the world’s second-largest cryptocurrency, could be tied to the risk-off attitude in the crypto market. The fact that Bitcoin has dropped to its lowest level since August proves this. Bitcoin (BTC/USD), the largest global cryptocurrency by market capitalization, fell by more than 6%, dropping under $40,000 to trade at around $38,800. The fall came after Russia’s central bank recommended a ban on the use and mining of cryptocurrencies on Thursday. As a result, cryptocurrency prices plummeted overnight, with Bitcoin reaching its lowest level since August last year. According to Kraken data, Ether ETH/USD, which runs on the Ethereum blockchain, fell by 7% to $2,868, while XRP/USD lost 6.25 percent, Bitcoin Cash BCH/USD shed 6.73 percent, Litecoin LTC/USD came down by 6.76 percent and Monero XMR/USD  by 5.21 percent, all of which were significant losses.

On the other hand, the recent selling tendency in the dollar is aiding the ETH, and reducing its losses. For example, the broad-based US dollar was lower in Asia on Friday morning. Fears that inflation will remain high and that the Federal Reserve will tighten monetary policy in the United States dampened investor sentiment, causing the safe-haven Japanese yen to gain momentum against the riskier Australian dollar. The US Dollar Index, which compares the value of the US dollar to a basket of other currencies, has fallen by 0.06 percent to 95.665.

Weekly Cryptocurrency Summary – Litecoin (LTC/USD)

The LTC/USD currency pair could not reverse its early losses, and it remained well-offered near $124.600. Litecoin was trading at $124.600 on Friday, which was down by 10.04 percent on the day. This was the biggest percentage drop in a single day since December 4, 2021. Litecoin’s market cap fell to $8.741 billion, or 0.47 percent of the overall cryptocurrency market cap, as a result of the decline. Litecoin’s market capitalization peaked at $25.609 billion. Litecoin has traded in a range from $124.000 to $131.000 over the last twenty-four hours, having lost 9.35 percent of its value in the previous seven days.

In the twenty-four hours leading up to the time of writing, the total traded volume of Litecoin was $801.998 million, or 1.19 percent of the total cryptocurrency volume. In the last seven days, it has moved within a range of $124.0000 to $153.5000. Litecoin was still down by 70.33 percent from its all-time high of $420.00 on December 12, 2017.

 LTC/USD

Since the start of the day, the crypto market has been flashing red, and it looks like the week will close on a gloomy note, with Russia’s central bank proposing a ban on the use and mining of cryptos on Thursday. Russia is one of the most popular Bitcoin mining countries in the world. According to Oanda’s senior market analyst, Edward Moya, the proposal by the Russian bank might cause Bitcoin to plummet below $40,000. Meanwhile, US lawmakers are once again focusing on Bitcoin, as concerns about the type of energy utilized in the energy-intensive mining process grow.

On the bright side, the recent bearish trend in the US dollar is helping the LTC/USD pair to decrease its losses. As the rally in US Treasury yields stalled, the dollar took a breather from recent gains, but it was still on track for its best week in two months, against a basket of global peers. Market concerns that the US Federal Reserve will tighten monetary policy more quickly than expected will drive the rise in US yields. A rate hike in March is fully priced into Fed funds futures, with a total of four hikes in 2022. Starting Tuesday, the Federal Open Market Committee (FOMC) will hold a two-day policy meeting, after which the market players will carefully examine the committee’s statement on tightening monetary policy.

Furthermore, the recent announcement that Walmart is aiming to become involved in the growing world of non-fungible tokens (NFTs) and will be revealing its cryptocurrency in the coming months, halted the losses in LTC. This news is wonderful, because it indicates that cryptocurrency is becoming increasingly mainstream and acceptable in daily commercial endeavors. As the sector expands, becomes stronger and begins to appeal to more individuals and traders, traditional corporations, stores and brick-and-mortar businesses are venturing deeper into what was formerly a strictly speculative space.

Weekly Cryptocurrency Summary – Ripple (XRP/USD)The XRP/USD has been flashing red and has begun a steady drop below 0.69000. With a 24-hour trading volume of $2,155,046,679 USD, the current XRP price is $0.688167 USD. Ripple XRP has lost 7.95 percent of its value in the last 24 hours. With a live market cap of $32,800,176,157 USD, the current market ranking is #8. There are 47,663,117,635 XRP coins in circulation, with a maximum supply of 100,000,000,000 XRP coins. XRP/USD

One of the main causes of Ripple’s bearish rally could be the market’s risk-off mood. The latest negative news from Russia and the United States weighed heavily on the cryptocurrency market. It should be noted that Russia’s central bank has suggested a ban on the use and mining of cryptocurrencies. On the other hand, concerns over the type of energy used in the energy-intensive mining process have prompted a new round of investigations by US senators. Conversely, the continuing selling bias in the dollar is assisting the XRP/USD in regaining some of its losses. For example, on Friday morning, the dollar was weaker in Asia. However, fears that inflation would continue to rise and that the Federal Reserve would tighten monetary policy in the United States soured the market sentiment, causing the safe-haven Japanese yen to gain momentum against the riskier Australian dollar. Alternatively, the losses in the USD could be short-lived, since market uncertainty tends to bolster safe-haven assets, like the US dollar.

Weekly Cryptocurrency Summary – DOGECOIN (DOGE/USD)The DOGE/USD pair could not halt its fall, which took it to an intra-day low of 0.148952. Even though the LTC Casino now accepts DogeCoin payments, the price of the cryptocurrency has dropped. Last week, they began accepting Doge transactions, allowing members to enjoy their favorite games without worrying about the payment method. With a 24-hour trading volume of $913,172,122, the current price of Dogecoin is $0.152043. Dogecoin has dropped by 7.46 percent in the last 24 hours. The current market capitalization is $20,171,699,039, and the company is ranked 11th. The maximum supply is unknown; however, it has a circulating supply of 132,670,764,000 DOGE coins. DOGE/USDMeanwhile, Jim Cramer, the host of Mad Money, has issued a warning regarding Dogecoin (DOGE). According to him, the meme cryptocurrency is a security that will be regulated. He also questioned the supply of Dogecoin. On Thursday, Cramer warned against investing in Dogecoin (DOGE). Cramer is a co-founder of Thestreet.com, financial news and literacy website. He is a former hedge fund manager. “Please use caution when dealing with Dogecoin,” he tweeted, adding that the meme cryptocurrency “is a security” that “should be regulated.” This announcement, however, has not affected the value of Dogecoin thus far. Check out our free forex signals Follow the top economic events on FX Leaders economic calendar Trade better, discover more Forex Trading Strategies Related ArticlesWeekly Cryptocurrency Update (Jan 15 - 21): Coins to watch - BTC, ETH, LTC, XRP & DOGE7 hours agoRipple Rejected at $0.7500 - Who's up for a Sell Trade?2 days agoEthereum (ETH) Steady Near $3,100 - Can Buyers Trigger a Reversal?2 days agoComments00voteArticle Rating Subscribe Login0 Comments Inline FeedbacksView all comments7 H0

Solana price experienced a crash on January 20, slicing through two crucial barriers. However, SOL has not created a lower low from a high time frame perspective, suggesting that buyers are preventing a further decline.Solana price at make or break point

Solana price crashed 16% in 24 hours, causing it to slice through the 200-day Simple Moving Average (SMA) at $140.54 and the weekly support level at $135.71. Interestingly, this development was cushioned by the bullish momentum since the crash occurred inside a daily demand zone that extends from $115.51 to $144.70.

A breakdown of the said demand zone to create a daily candlestick close below $115.51 will create a lower low from a high time frame perspective, indicating that the price wants to head lower. However, Solana price is currently inside this demand zone and has a chance to recover.

A daily candlestick close above the weekly support level at $135.71 and preferably above the 200-day SMA at $140.54 will indicate a resurgence of buyers and indicate that SOL could retest the 50-day SMA coinciding with the daily supply zone, extending from $169.79 to $179.19, constituting a 33% advance.

SOL/USDT 1-day chart

On the other hand, if Solana price produces a daily candlestick close below $115.51 it will create a lower low, invalidating the bullish thesis. This development will suggest that a bearish outlook is in play and open the path for a 35% crash to the next daily demand zone that stretches from $65.91 to $78.76.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed-->  Latest Crypto News Latest Crypto News & Analysis Editors’ PicksDogecoin is a security and will be regulated, says Jim Cramer

The host of Mad Money, a CNBC show, issued a warning to Dogecoin holders. Cramer believes that Dogecoin is a security and it will be regulated soon. Analysts believe that the Dogecoin price could start an uptrend. 

More Dogecoin NewsShiba Inu price set to crash by 70% as critical support weakens

Shiba Inu (SHIB) price continues to be controlled by bears after the dead-cat bounce in stock markets yesterday evening. With the Nasdaq closing sharply lower, giving up earlier gains, cryptocurrencies are being dragged into a selloff on its coattails, and bearish headwinds  persist.

More Shiba Inu NewsChainlink price at make-or-break point while global markets tumble

Chainlink price has seen a massive collapse over the past five days, resulting in a retest of a crucial barrier. This downswing is not localized to the crypto markets and seems to originate on Wall Street after the Fed tightens the interest rates.

More Chainlink News Bitcoin Weekly Forecast: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

More Bitcoin NewsBitcoin: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

Read full analysis BTC ETH XRP Crypto partners in your location

Dogecoin price action has been an absolute joy for short-sellers – but that joy may turn bitter very soon. Dogecoin broke out of the rising wedge pattern on January 13 and is just now retesting that trendline breakout.

Dogecoin price shows resiliency among crypto wide rout

Dogecoin price experienced a strong bounce and rally off of the weekly lows and the upper trendline of the falling wedge pattern. At the same time, DOGE could be developing the beginning of the right shoulder of an inverse head-and-shoulders pattern, signaling a bullish reversal in the future.

Another reason for a bullish outlook in the immediate future is the presence of a Tower Pattern on the Point and Figure chart. However, tower patterns are rare and only form when two columns develop an equal number of boxes in each column; ten or more is the requirement. The entry on a tower pattern is the three-box reversal.

A hypothetical long entry trade setup is now open for Dogecoin price. The long idea is a buy stop order at $0.17, a stop loss at $0.15, and a profit target at $0.315. The current O-column can move two more boxes lower before the Tower Pattern is invalidated. As DOGE moves lower, the entry and stop follow in tandem, but the profit target at $0.315 remains the same.

The trade idea represents a 7.25:1 reward/risk setup for Dogecoin price. However, targets with such a wide range between the entry and profit target very rarely hit; there are normal pullbacks and whipsaws involved on the way. For that reason, a three-box trailing stop would help protect any implied profit generated post entry.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed-->  Latest Crypto News Latest Crypto News & Analysis Editors’ PicksCryptos enter buy zone

Bitcoin price has made a significant dip this week, dropping more than 11% and returning levels not trades since August 2021. Etheruem price hits new three-month lows, threatens a return to the $2,300 value area. XRP price looks determined to push lower to the $0.65 support zone before generating another bull run.

More Cryptocurrencies NewsLoopring, NEAR and Harmony among the biggest losers as crypto bloodbath intensifies

Altcoins suffered double-digit losses in the recent crypto bloodbath. The recent spike in altcoin prices was followed by a correction for Loopring, Harmony and NEAR. The losses nursed by altcoins were accompanied by a wave of selling pressure across exchanges. 

More Cryptocurrencies NewsShiba Inu price set to crash by 70% as critical support weakens

Shiba Inu (SHIB) price continues to be controlled by bears after the dead-cat bounce in stock markets yesterday evening. With the Nasdaq closing sharply lower, giving up earlier gains, cryptocurrencies are being dragged into a selloff on its coattails, and bearish headwinds  persist. 

More Shiba Inu News Crypto.com Price Prediction: CRO ready to return to $0.25

Crypto.com Coin (CRO) is withstanding the current market headwind not that great. It has already lost over 50% of its value from the highs, and CRO could be set to lose another 30% as essential support is being breached.

More Crypto.com NewsBitcoin: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

Read full analysis BTC ETH XRP Crypto partners in your location

Play-to-earn gaming giant Axie Infinity revealed major development updates for 2022. The team is working on a feature to support the in-game trading of items between users. This update will likely take over a month to be live. 

Axie Infinity developers reveal major updates for 2022

One of the largest metaverse tokens, Axie Infinity, revealed major development updates in 2022. The play-to-earn gaming token enjoys a community of actively engaged players and investors. 

The development team is currently working on a key update, the “Project K trading feature.” The feature is expected to enable in-game trading of items among users. The feature would take over a month to finish development and launch, according to the Axie Infinity newsletter. 

Interestingly, the Axie Infinity team is working on a target alpha test launch in 2022. Origin (Battle V3) would introduce new economic balancing features. Features like a vertical progression of Axies would boost utility and adoption among investors. 

The development team has shared 3-dimensional (3D) models created for “Project K trading feature” in a recent blog. The team is working on simplifying the onboarding process through the launch of Origin. 

@Call_Me_Cypher, a cryptocurrency analyst and trader predicted that the daily structure of the Axie Infinity price could break out of the wedge and move higher. 

$AXS moon mission soon I'll be interested if we see a "daily" structure "breakout" of the wedge.. $AXS is one of them coin that moves if it wants to without concerning itself with $BTC. pic.twitter.com/fyPTasSxOX

— Cypher (@Call_Me_Cypher) January 17, 2022

@Crypto_Scofield, a crypto analyst and investor, has set a target of $89 for Axie Infinity price. FXStreet analysts evaluated the Axie Infinity price trend and predicted a 26% advance in the price of the play-to-earn gaming token. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed-->  Latest Crypto News Latest Crypto News & Analysis Editors’ PicksEthereum Price Prediction: ETH runs risk of sliding 14% as crypto market weakens

Ethereum price has dropped below two significant footholds on January 21, as selling pressure increased. ETH could be at risk of declining an additional 14%, a pessimistic forecast given by the bearish chart pattern. 

More Ethereum NewsBitcoin Weekly Forecast: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

More Bitcoin NewsDecentraland Price Prediction: MANA relief rally capped at $3

Decentraland price has been on a massive bear trend since its all-time high in late 2021. The collapse of this metaverse token seems to be pausing as MANA trades inside a demand zone.

More Decentraland News MATIC falls below critical support, a move to $1.70 may be next

A brief technical and on-chain analysis on Polygon price. Here, FXStreet's analysts evaluate where MATIC could be heading next.

More Polygon NewsBTC eyes retest of $50,000

Bitcoin price shows a resurgence of retail interest as it bounced off a crucial psychological level. The recent uptrend is preparing a base on a short-term time frame so BTC can kick-start a larger leg-up. Interestingly, on-chain metrics are lining up with the bullish outlook portrayed from a technical perspective. An uptrend now seems inevitable for BTC and, therefore, the larger ecosystem.

Read full analysis BTC ETH XRP Crypto partners in your location

Ripple (XRP) price ranges in a tight pennant with signals pointing to the downside as bulls are unable to hold the $0.78 support level, which is in the process of being transformed into resistance by bears. The low of today is just a few ticks shy of the ascending side of the pennant, and could see bears putting their foot down on the selling pedal and accelerating a move down. Expect some hesitation around $0.70, but ultimately price will want to see $0.58 as an end station for bears’  near-term short positions.

A 25% devaluation would be suitable for XRP

Although a pennant can still go either way, bulls look to be unable to hold support at $0.78 within the pennant. This is to be perceived as a bearish signal, together with the Relative Strength Index fading away from 50 and pointing to more downside risk. The low of today barely touched the ascending side of the pennant, which will put mounting pressure on bulls trying to defend that support over the short-term.

If bulls cannot hold XRP price action along that ascending side, expect to see a quick nose dive in two phases – the  first, a halt around $0.70, which was the January 10 low  and thus signifies a retest of the low of this year. Then, expect new lows to be penciled in for the year as bears will want to keep their gains locked in until $0.58, which would return them 25% of value. That level holds a historical significance and is also the monthly S1 support level.

XRP/USD daily chart

A pop to the upside could still be on the cards when global markets can find it within themselves to finally shrug off the negative sentiment surrounding the FED's rate hike policy outlook to contain inflation. Expect once that happens to see a quick reversal to $0.84, with the pennant breaking to the upside and the $0.78 level holding support again. Investors will rush in to push price action back towards $0.88 – with the 55-day Simple Moving Average (SMA) getting in the way – as the Relative Strength Index (RSI) quickly trades back above 50. The point at which the the 200-day and the 55-day SMA crossed, at $0.95, however, provides a possible  entry level for bears to begin a fightback.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed-->  Latest Crypto News Latest Crypto News & Analysis Editors’ PicksEthereum Price Prediction: ETH runs risk of sliding 14% as crypto market weakens

Ethereum price has dropped below two significant footholds on January 21, as selling pressure increased. ETH could be at risk of declining an additional 14%, a pessimistic forecast given by the bearish chart pattern. 

More Ethereum NewsBitcoin Weekly Forecast: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

More Bitcoin NewsDecentraland Price Prediction: MANA relief rally capped at $3

Decentraland price has been on a massive bear trend since its all-time high in late 2021. The collapse of this metaverse token seems to be pausing as MANA trades inside a demand zone.

More Decentraland News MATIC falls below critical support, a move to $1.70 may be next

A brief technical and on-chain analysis on Polygon price. Here, FXStreet's analysts evaluate where MATIC could be heading next.

More Polygon NewsBTC eyes retest of $50,000

Bitcoin price shows a resurgence of retail interest as it bounced off a crucial psychological level. The recent uptrend is preparing a base on a short-term time frame so BTC can kick-start a larger leg-up. Interestingly, on-chain metrics are lining up with the bullish outlook portrayed from a technical perspective. An uptrend now seems inevitable for BTC and, therefore, the larger ecosystem.

Read full analysis BTC ETH XRP Crypto partners in your location

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