Since the January 3 drop, Ethereum (ETH) is trapped between moving-average lines.
Investors bought dips as the largest cryptocurrency dropped to $2,097 by January 3. Ether is now back to $2,249.50. Ether's price has been capped by the moving average lines.
If buyers are able to maintain the price above the SMA of 21 days, they could resume the upward trend and reach the $2400 high. Ether's price will fall to $2,097 if sellers breach the 50-day moving average. The price of Ether is oscillating in between moving average lines.
A recent rally has trapped the largest cryptocurrency between moving average lines. After the January 3 price drop, the price bars on the 4-hour graph remain below the moving-average lines. Ether's risks are decreasing. Moving average lines are horizontal because of the sideways trend that has been observed below the $2400 resistance level.
Key Resistance Levels - $2.200 and $2.400
Key Support Levels - $1800 and $1600
Ethereum falls below the moving-average lines on the 4-hour chart. Another rejection occurs at $2,300. The altcoin price could rise above $2,100 and return to its previous low.
CryptoGuestPosts announced on January 2, that Ether had risen again. It reached a peak of $2,305.50. Ether was being driven back to its previous highs by buyers.
Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as an endorsement from CryptoGuestPosts. Before investing in funds, readers should research the market.
After reaching a peak of $126.66, the price of Solana is now falling. CryptoGuestPosts provides a price analysis.
Solana has consolidated above $97 since December 28. The selling pressure has eased over the moving average and support lines.
There are indications that the cryptocurrency is likely to continue falling. If the altcoin does retrace, and holds its position above 21-day SMA then the current rally is likely to resume. Solana's previous high of $126 will be reached. The current rally may end, however, if the bears continue to break above the SMA of 21 days and the bearish trend continues. First, the market will fall above its 50-day moving or low price of $73.
The crypto is still trading over the moving average lines, despite the drop below the $100 level of support. The coin's price will continue to rise so long as it remains above the SMA 21-day.
The price bars are below the moving-average lines on the 4-hour chart, which indicates that the cryptocurrency is likely to continue falling.
Important Supply Zones: $80 $90 $100
Important demand zones: $60, $50, $40
Solana has returned to the bullish trend after the pullback. Solana has fallen below the moving-average lines on the chart. On December 26, the price of Solana went through an upward correction, and a retracing body was tested at the 61.8% Fibonacci level. The upward correction indicates that Solana is likely to fall below the 1.618 Fibonacci Extension level, or $85.
CryptoGuestPosts had reported that Solana climbed to $100 on December 22 before falling back down to $92 as support. On December 34, the market fluctuated between $92 to $100.
Disclaimer. This analysis and forecast is the author's personal opinion and not a recommendation for buying or selling cryptocurrency. It should not be seen as an endorsement from CryptoGuestPosts.com. Before investing in funds, readers should research the market.
Bitcoin (BTC), despite trading within a small range, is still on a positive trend. Bitcoin price analysis from Coinidol.com.
The biggest cryptocurrency is currently trading above the simple moving average of 21 days but below $44,700. The resistance at $44,000 further slowed up the upward movement. On December 26, bears fell below the simple moving average of 21 days, while bulls purchased dips. BTC has recovered above its 21-day SMA, but is still below $44,700. Bitcoin's uptrend, which began on December 27, was short-lived. Bitcoin turned lower below the $44,000 level.
Bitcoin has stalled at the $44,000 level of resistance. Bitcoin will enter bullish territory once it crosses the $44,700 barrier. The market will hit a high of $48,000. Bitcoin is in danger of falling because it trades in a tight range. The biggest cryptocurrency will fall, if the bears continue to trade below the 21-day SMA. Bitcoin will drop above the 50-day moving average (SMA), or the low price of $40,400.
BTC has traded consistently above the SMA of 21 days to avoid a drop to the downside. The bears currently are trying to break through the 21-day SMA. The current rally would be over if the bears succeeded. The selling pressure is currently easing above the moving-average lines. This suggests that the sideways movement will continue.
Key Resistance Levels - $35,000 and $40
Support levels for $30,000 and $25,000.
If the price rises above the moving-average lines, the sideways trend may continue. Bitcoin is trading within a narrow range of $41,600 to $44,000. The $44,000 barrier has stopped Bitcoin's upward movement since December 20. Bitcoin could see a drop if it does not break through the $44,700 level of resistance.
Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as an endorsement from CoinIdol.com. Before investing in funds, readers should research the market.
It's probably safe to say 2023 wasn't as bad as anticipated. Will 2024 keep crypto on its winning streak?
On January 3, Bitcoin, and cryptocurrency in general, will be 15 years old. Not old enough to drive yet, but old and able to do some really stupid stuff while making you wonder at the thing you created (I speak as a parent of a five-year-old but I assume things don't differ too much).
In comparison to last year's time, optimism and greed reign. Prices are rising, dumps last a short time and crypto is slowly making its way back into polite society. What can we expect in 2024? What's next?
This one is prefaced with a disclaimer. Ethereum ain’t going anywhere. And there will most likely be a point next year where people laugh at the OG Layer 1 and then it rips so hard that it can even be heard in space.
Solana has now established itself as the obvious heir to Vitalik’s baby. Solana is now firmly established in the top five by market capital. Over the past month, Solana, at various points, has overtaken ETH for DEX volume and NFT transactions, as well as stablecoin usage. Money is flooding in, and it's starting to spread around the ecosystem as unlit rocket fuel.
It's very likely that many of the 100x coins for the bull market of 2024 will be found on Solana. Be careful, though: the chances of you hitting the jackpot will be slim and Solana has a low entry barrier that makes scams and rug pulls commonplace. For instance, there were 5000 coins released on December 22. Enjoy yourself, place small bets and prepare to cash out your winnings because infernoes can burn themselves out suddenly.
When crypto markets make a sharp left turn and enter the ridiculous zone, it's easy to view Bitcoin with the same kind of snobbish affection reserved for those in their 80s. It's great that you earned 20%. My life savings were multiplied five times in just two days when I invested them into something called Pooblaster, whose website was a video showing a dog's poop being shot into space. (Note to Self: Launch this coin on SOL.
Let's not forget, however, that we are doing this again because the largest asset manager in the world decided to promote a Bitcoin ETF. By the time this newsletter is published, the ETF may be available.
It's not a guarantee that the market will always be on the rise (people enjoy shorting ETFs). It is certain that Bitcoin will remain the central point of crypto-currency and the rest the world.
Since months, I have been wanting to write about stablecoins, but let's face it, they aren't that exciting.
They are still important. The flow of stablecoins in or out of the market is one of the best indicators of market health. In October, the value of stablecoins began to rise for the first since early 2022. Since then, crypto markets have gained US$670 Billion in value. Although the inflows of money are minor, the fact that they have stopped is enough to bring about a sort of equilibrium.
Stablecoins serve as much more than market indicators. Stablecoins make up at least 80% the volume of all crypto transactions on any given day. Stablecoins may be the killer app for crypto. Stablecoins are easy to use, understand and serve a purpose.
Stablecoins are a great way to preserve wealth in countries where the currency is volatile or weak. They can also facilitate trade. Others are looking to fill the gaps left by the international banking system. As stablecoins spread and grow, it is worth keeping an eye out on who uses them, where they are going and what the powers-that-be want to do.
In 2021, I had a moment of clarity when I realized that, as a full-time crypto worker, I was utterly clueless about what was going on.
This next cycle will be the same as that, but a thousand times better. It's about alternative L1s such as SOL and AVAX creating thriving crypto ecosystems that rival Ethereum, with their own DEXs DAOs NFTs.
There are also inscriptions which is a controversial method of building NFT data packets directly into the information on the blockchain. People started with Bitcoin but are now putting inscriptions in any chain that they believe they can get some value out of, including L1s such as ETH and SOL whose only purpose is to facilitate these types of transactions. Oh good, now my nose is bleeding.
RWAs, or real world assets, allow you to tokenize ownership of anything from real estate, to sports teams, to art, to cars, to watches, to the right to hug The Rock. (This doesn't yet exist, but Dwayne could make it so). Then there's the gaming industry, which has a huge market and could become its own crypto universe.
It's going to get even more chaotic from here on out, so concentrate on the things you know, the ones you like, and accept the fact that you'll feel as if you're being told everything in ancient Sumerian.
Bitcoin is halved every four years. Three boom-bust cycles of four years have occurred on the crypto market. Coincidence? Or is it predestined fate?
It's easy to believe that it will be the same as before, and it may well be! Trading is a great example of a truism: if you believe something will happen, it won't. This time around, there are many geopolitical headwinds and macroeconomic challenges that did not exist in the first decade of crypto.
Be as bullish as you like about 2024 - I'm sure I am – but be aware that things can quickly change and that the moment you are most certain of something, is also the moment that you lose your certainty.
Enjoy your New Year, you filthy degens. We'll see you in 2024. Pooblaster 2, tha moon.
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