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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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Amid the current market crash, $1 billion worth of USDT was transferred from Tether’s treasury to Binance.

The past couple of days were particularly devastating in both the cryptocurrency and the legacy markets.During Saturday’s trading session, Bitcoin’s price crashed to a low of around $34,000 on Binance, and it’s currently trading at around $35K, struggling to hold above that level.Now, Whale Alert detected that $1 billion worth of USDT was transferred from the Tether Treasury to Binance.Tether was quick to explain what happened.

In few minutes, Tether will coordinate with a 3rd party to perform a chain swap, converting from Tron TRC20 to Ethereum ERC20, for 2B USDT. The tether total supply will not change during this process.

This means that Tether has not printed any fresh USDT and is just deploying coins from Tron to Ethereum, sending them to Binance.SPECIAL OFFER (Sponsored)Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms). PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees. You Might Also Like: Tags: Tether (USDT)

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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The global cryptocurrency market capitalisation dropped from $1.88 to $ 1.7 trillion during the last 24 hours while the trading volume surged from $66.35 to $126 billion.

The decentralised finance (DeFi) cryptocurrency market cap surged 123.14 percent to $120.97 billion. Value of stablecoins stood at $115 billion, representing nearly seven percent of the market. Stablecoins are tied to an asset - such as the dollar or any other fiat currency or gold - to stabilise their price.

Bitcoin's market dominance remained nearly flat at 40.51 percent and the asset was trading at $36,579 levels today morning.

In rupee terms, Bitcoin fell over seven percent to trade at Rs 29,63,463, while Ethereum fell nine percent to Rs 2,11,277.4.

Meanwhile, Robinhood Markets Inc is rolling out crypto wallets to a 1,000 users, allowing them to send and receive cryptocurrencies through their brokerage accounts, the company said in a blog post. The Menlo Park-based online brokerage had laid out plans to begin testing the wallets last year, with the aim of a broader rollout in 2022.

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Also, Brazilian financial services provider Dock said that it will start using cryptos to process international remittances as it expands to Latin America and Europe.

Why is now the right time to invest in US markets?

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Cryptocurrencies are on a freefall and there seems to be no letup in the sell-off on Saturday. The sudden market-wide drop-off portend a long and tough winter for digital currencies after a fairly decent performance in 2021.

Bitcoin, Major Altcoins In Bear Market Territory: Bitcoin (CRYPTO: BTC) has lost over 20% in the year-to-date period, after ending 2021 with a fairly decent gain of nearly 60%. The sell-off started off in earnest in early November.

Bitcoin scaled to a new peak of $68,789.63 on Nov. 10, 2021 before moving southward, and the recent downtrend has taken the crypto to $35,313.21 today. The peak-trough change is over 48%.

Other major altcoins such as Ethereum (CRYPTO: ETH), Binance Coin (CRYPTO: BNB), Cardano (CRYPTO: ADA) and Solana (CRYPTO: SOL) are also deep in the red. All the altcoins in the top ten cryptocurrencies in terms of market capitalization, barring stable coins such as Tether (CRYPTO: USDT) and USD Coin (CRYPTO: USDC), have plunged hard.

Here's how the top altcoins have performed in the year-to-date period.

Much of the weakness is attributed to the Federal Reserve's announcement that it is considering a Central Bank Digital Currency, Russia's proposed Bitcoin ban, and China's animosity toward all things crypto.

Related Link: Bitcoin Slips Below Crucial $40K Level, Taking Ethereum, Dogecoin Down With It: US Treasuries, Russia, Outflows And More That's Weighing

Tough Winter Ahead? Following the crypto market crash, doomsday predictions have begun floating around. Analysts see a plunge similar to the crypto crash of 2018, when most coins fell by about 90%.

Far bleaker predictions point toward a situation similar to the 1929 stock market crash, which led to a collapse in stock prices and was among the chief reasons for the Great Depression that followed. The largest sell-off in the U.S. stock market history occurred on Oct. 24, 1929 – a day known as "Black Thursday."

Bitcoin could plunge below the $30,000 level in 2022, as the crypto bubble bursts, the Markets Insider reported, citing Paul Jackson, Invesco's global head of asset allocation. The analyst assigned a 30% probability of the apex currency breaching the level.

UBS analysts have also warned of a crypto winter – a protracted period of crypto weakness that could last for over a year, the Markets Insider report said. Fed tightening could make the cryptos lose their appeal, and Bitcoin has managed to alienate some investors due to the extreme volatility that has become the order of the day, along with its limited supply, the publication added.

At last check, Bitcoin was seen moving down 9.03% to $35,217.76.

Related Link: How to Buy Bitcoin

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The price of the world’s flagship cryptocurrency, Bitcoin, crashed by over 50% from its all-time high on Saturday as traders dumped assets for cash.

Bitcoin fell to as low as $34, 243 (according to Binance) before clawing back above $35,000 in the early hours of Sunday, Nigerian time. Bitcoin hit an all-time high of $67,566 on the 8th of November 2021 at a time when bullish investors predicted we could be hitting $100,000.

The crash in bitcoin prices follows a decision by the US Fed to raise interest rates at least three times precipitating the liquidation of most leveraged assets in the market.

January 22, 2022 January 21, 2022Altcoins suffer mega loss

Bitcoin is not the only cryptocurrency that has suffered massive losses. Ethereum the second most capitalized cryptocurrency has also fallen from its all-time high of $4,812 to about $2,400 as traders intensified the sell-offs across board.

-->-->-->-->-->Also affected in the sell-offs are BNB, Cardona, Solana, XRP all of which make up the top 10 most capitalized cryptocurrencies in the world.So far, the market capitalization of cryptocurrencies has fallen by over 43% from $2.9 trillion in November 2021 to around $1.65 trillion today.Over a trillion dollars in crypto values have been wiped out this year already.Despite the crash with cryptocurrencies, stable coins remain “stable” as investors liquidate their positions in bitcoins and altcoins in exchange for stable coins which are pegged to the dollar. Tether the world’s largest stable coin is at an all-time high of $78 billion in market capitalization.Why Crypto is crashingThe declines in crypto follow Wall Street losses on Thursday. The Nasdaq was down almost 5% this week, and the S&P 500 is into its third straight week of losses.As the 10-year U.S. Treasury yield spiked earlier this week, rising rates have caused investors to shed their positions in riskier assets. Yields move opposite to prices.The Federal Reserve has also indicated it plans to begin reducing its balance sheet, as well as tapering of bonds and raising interest rates.As a result of intense price fluctuations and increased regulatory scrutiny, many industry experts predict that the crypto market will continue to experience a downturn.Regulators are also targeting cryptocurrencies. Besides the Chinese government banning all crypto-related activities, U.S. authorities are cracking down on several aspects of the market as well.Reports also indicate Russia’s Central Bank also plans to ban cryptocurrency and has put forward a proposal to Kremlin that all use and mining of cryptocurrencies in Russian territories be banned.

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The global cryptocurrency market capitalisation dropped to $1.6 trillion from $1.7 trillion during the last 24 hours while the trading volume rose from $126 billion to $130 billion.

The decentralised finance (DeFi) cryptocurrency market cap increased 7.26 percent to $113.19 billion while that of stablecoins rose 0.14 percent to $165 billion. Stablecoins are tied to an asset - such as the dollar or any other fiat currency or gold - to stabilise their price.

Bitcoin's market dominance rose to 41.26 percent and the asset was trading at $35,203.60 levels today morning. In rupee terms, Bitcoin fell over 1 percent to trade at Rs 28,95,454 while Ethereum fell 5 percent to Rs 2,00,017.6.

Bitcoin, the world's biggest and best-known cryptocurrency, is now about half its $69,000 peak in November. It was last at $35,049, after falling as low as $34,000 and following a steep fall on January 21.

The currency has had wild price swings and has been hit as risk appetite has fallen on inflation fears and anticipation of a more aggressive pace of interest rate hikes from the US Federal Reserve.

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According to experts, "Bitcoin remains in the danger zone and if $37,000 breaks, there is not much support until the $30,000 level."

CryptocurrencyPrice (in Rs)24-hour change (in in8,750.00-6.11XRP48.94-5.97Axie4,131.40-14.4  Moneycontrol News Tags: ##Stablecoins #bitcoin #blockchain #cryptocurrency #DeFi first published: Jan 23, 2022 08:43 am --> Watch Must Listen

Why is now the right time to invest in US markets?

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Bitcoin plunged below the $39,000 mark on Friday

Bitcoin was trading at $38,828.93 at the time of writing this article, down by 7.78 per cent over the last 24 hours, while Ether went below the $3,000 mark.Swastika Das Sharma

Cryptocurrency Update: The global cryptocurrency market cap was headed for a bloodbath on Friday, December 21 as all major crypto coins including Bitcoin and Ethereum shed drastically, after already being on the downward trod for days. The global crypto market cap was standing at 1.82 billion at 1710 IST, according to data from CoinMarketCap. This was down by 8.16 per cent in the last 24 hours. This was fuelled further as traders sold their assets as the crypto coin prices started to fall, making the volume of traded coins go up by 111.11 per cent over the past day. The crypto market volume over the last 24 hours stood at $105.35 billion, according to data.

Bitcoin was trading at $38,828.93 at the time of writing this article, down by 7.78 per cent over the last 24 hours, while Ether went below the $3,000 mark. Ethereum value was standing at $2,843.48 at 1710 IST, down by 9.61 per cent. Major crypto coins including Tether, Cardano, Solana, Dogecoin, BNB, USD Coin and Shiba Inu also suffered severe losses during the day.

“There can be multiple factors that could lead to impacting the crypto market and its prices. The uncertainty surrounding the Crypto Bill across the globe could be one of the factors that led to a fluctuation in cryptocurrency prices," said Vikas Ahuja, member of Blockchain and Crypto Assets Council (BACC) and CEO of CrossTower India.

“China shutting down Bitcoin mining in Sichuan province, has also led to crypto market prices going down in market value. In addition, the new variant of the Coronavirus, Omnicron is roiling global markets, with its impact being felt across various markets, including those trading cryptocurrencies," he added.

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“For quite some time, cryptocurrency markets have been resting on a crucial support level. Risk assets are being sold off as a result of the macroeconomic downturn. Also, the downtrend is affected by the minutes released by Fed," said BACC member and BuyUcoin CEO Shivamm Thakral.

Edul Patel, CEO of Mudrex, had earlier warned about the consequences of support levels breaking. “The support price for BTC’s support price is above US$40,000 as momentum improves on intraday charts. The resistance zone of BTC ranges between US$43,000 to US$45,000. If the support levels break, it will indirectly pressure the crypto market," he had said.

Covid Slice  became the top loser in the crypto pack on Friday. Over the last 24 hours, the value of one coin Covid Slice by 99.51 per cent. One token was priced at $0.0002095, as per data. ENHANCE and Revolution were the other two losers who occupied the next top spots on the day. However, crypto coin Project X Nodes gave the highest return of 674.19%

Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)

Project X Nodes: $23.14 - up by 674.19 per cent

PAPPAY : $0.000002405 - up by 251.72 per cent

Influencer Finance: $0.00000000004774 - up by 240.83 per cent

Metacraft: $0.4624 - up by 210.78 per cent

tudaBirds: $0.01387 - up by 190.76 per cent

POLARNODES: $2.81 - up by 162.53 per cent

Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)

Covid Slice: $0.0002095 - down by 99.51 per cent

ENHANCE: $0.00000000002015 - down by 99.01 per cent

Revolution: $7.24 - down by 97.49 per cent

SAFECAME CASH: $0.00000000001519 - down by 91.53 per cent

Wall Street Capital: $0.0001111 - down by 84.00 per cent

SOCIETY OF GALACTIC EXPLORATION: $0.000000002825 - down by 81.76 per cent

Read all the Latest News, Breaking News and Coronavirus News here.

Swastika Das Sharma

Swastika Das Sharma, Subeditor at News18.com, has been part of digital media since 2020. She has completed her post-graduation from Asian College of J...Read More

Tagsbitcoincryptocurrencyfirst published:January 21, 2022, 17:51 ISTMore NewsPhotogallery

New data reveals that the world’s biggest Ethereum (ETH) whales on record are gobbling up stablecoins and other altcoins as Bitcoin (BTC) struggles below $40,000.

According to whale-monitoring bot WhaleStats, the top 1,000 non-exchange Ethereum wallets snapped hundreds of thousands of dollars worth of stablecoins USD Coin (USDC), Tether (USDT) and Binance USD (BUSD) as well as and ETH itself in the last seven days.

The deep-pocketed investors also accumulated $62,569 worth of Polygon (MATIC) on average, followed by flexUSD, another stablecoin.

Coming in at number seven is Hex as Ethereum whales bought an average of $28,133 worth of the crypto asset designed to replace the certificate of deposit.

Decentralized oracle network Chainlink (LINK) takes the eighth with an average purchase amount of $27,934.

Basic Attention Token (BAT), the utility token of anti-ad web browser Brave and Wrapped Bitcoin (WBTC), which represents Bitcoin on Ethereum on a 1:1 basis, round out the list.

WhaleStats also shows that some of the richest Ethereum whales in existence are making huge individual purchases amid the crypto market pullback.

The fourth-ranked Ethereum whale on the planet bought nearly 200,000 LINK worth a staggering $3.90 million and 1,000 Maker (MKR) worth about $1.96 million. MKR is the Ethereum-based governance token of MakerDAO, a decentralized autonomous organization (DAO) that’s used to maintain and regulate the stablecoin DAI.

The 141st-ranked ETH whale also bought LINK – 86,475 tokens worth $1.69 million. The large wallet also added 1,099,996 MATIC worth $2.24 million.

Lastly, the 475th-ranked Ethereum whale purchased 326,994 SUSHI worth $1.84 million. SUSHI is the governance token of decentralized crypto exchange platform SushiSwap.

 Check Latest News Headlines  Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/ParabolStudio/Natalia Siiatovskaia

Bitcoin price has crashed further today and is trading under $39,000 level after Russia proposed banning the use and mining of cryptocurrencies on its territory. Bitcoin price tanked over 7% to $38,802. Bitcoin price has slipped in excess of 14% since the start of this year and that means in the last 21 days, counting today.

Bitcoin is the largest and the most popular cryptocurrency in the world even though other cryptos an tokens are chipping away at its market share. Ether, the coin linked to Ethereum blockchain also slipped below the $3,000 mark. It suddenly dipped by more than 7% at $2,914, as per CoinDesk. The token rose about 400% in 2021, compared with a gain of 60% for Bitcoin, however, it is down over 18% in 2022.

Similarly, Dogecoin price also fell over 7% to $0.15 while Shiba Inu dipped about 6% to $0.000026. Other cryptocurrencies like Binance Coin fell by 9% at $423, while Cardano is down over 11%. XRP, Polkadot, Tether, Litecoin Solana, Terra, Stellar were also trading low in the range of 3-10% over the last 24 hours.

However, it is the drop by Bitcoin and Ether that is likely to put investors in a chaotic situation. Both these coins are trading at their lowest in the past ten days while other top altcoins are also running in red.

The crypto industry has faced several regulatory pushbacks lately, as skepticism toward the growth of digital assets spreads across the globe. After Russia, Cryptocurrency exchanges can also expect stricter scrutiny from the US Securities and Exchange Commission (SEC) on digital assets in 2022.

Moreover, the cryptocurrencies have also been exploited by hackers recently. They have reportedly stolen about $34 million in cryptocurrency. Crypto.com, the industry's fourth-largest cryptocurrency exchange has confirmed the security breach and admitted that it lost user funds. However, they claimed that the issue has been fixed. The loss was in terms of bot cryptocurrencies, Bitcoin and Ethereum.

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First Published Date: 21 Jan, 12:18 PM IST Tags: BitcoinCryptocurrency

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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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The whole cryptocurrency market declined by a whopping 9% in the latest record. The most popular digital coin in the world suffered from an 8.8% crash as many cryptos nosedived.

Bitcoin Price Crash(Photo : Thought Catalog from Unsplash) Major cryptocurrencies like Bitcoin, Ether, and Solana have experienced terrible market crashes recently, according to the latest report.

The world's largest cryptocurrency suffered from an unexpected plunge following its quick free-fall below the $40,000 mark, according to The Independent. Some crypto experts said that this drop could signify a huge change for investors.

While it is alarming to see this scenario for Bitcoin, we might feel that the "crypto winter" is drawing closer. This 2022, this cryptocurrency has suffered from its worst record, to begin with. This might tell that it could suffer from even worse all-time lows in the future.

Its most recent performance is entirely far from what it did over the past two months. In November 2021, Bitcoin ditched the price crash after hitting its all-time high record of nearly $70,000. However, its value is now 44% below that number.

According to bitcoin purists, their favorite crypto would bounce back as a barricade for the ongoing high inflation. Cryptos continue to become unstable as they plunge to another level each day despite this event.

Related Article: How Risky is Bitcoin Trading?

Crypto Crisis Hits Ether and Other Coins

In another report by Livemint, the overall crypto prices have dropped below the $2 trillion mark. CoinGecko wrote at that time that the market only recorded $1.98 trillion, which accounts for a more than 5% decrease.

The second biggest crypto, ether saw a significant drop at $2,861 (over 8%), according to Coindesk. While it skyrocketed to nearly 400% in 2021, its January record alone exposed its quick fall off at over 18%.

Meanwhile, popular meme coin Dogecoin fell to $0.15 or more than 8%, while its counterpart Shiba Inu plunged to $0.000026 in valuation.

Solana, along with Stellar, XRP, Tether, Litecoin, and other coins, experienced a huge loss at around 3 to 10% after the 24-hour mark. Binance coin was down at 9% at that moment.

Crypto Crackdown

In the same report, Livemint wrote that tighter regulations around cryptos are currently in the process. Amid skepticism, Russia proposed its decision to ban digital coins this year, including Bitcoin mining and other related activities.

This is in contrast with Jack Dorsey's plans to build a crypto mining system for everyone. The team behind Block is now preparing it this year, per Tech Times.

Recently, Google Pay cards will soon store cryptocurrencies after its official collaboration with Bitpay and Coinbase.

Following this decision, the search engine titan is looking forward to incorporating the virtual coin wallet in the community and extending its service aside from being a usual payment service.

Google Pay president of commerce Bill Ready clarified that the company has no intention to become a bank. They wanted to happen to connect more towards the consumer finance industry.

Read Also: UK to Implement New Policies on Crypto Ads | Rules Aimed to Increase Consumer Protection Against Misleading Claims

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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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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.

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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.

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.

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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.

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