BEST CRYPTO TECHNICAL ANALYSIS BY CAPITAL STREET FX

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

Introduction​

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

Markets In Focus Today – BITCOIN​

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

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

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

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

Simple :​

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

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

Stochastic Oscillator : 47.78 | Buy Zone | Neutral

Resistance And Support Levels :​

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

Overall Sentiment: Neutral Market Direction: Sell​

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

ETHEREUM​

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

Introduction​

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

Markets In Focus Today – BITCOIN​

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

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

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

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

Simple :​

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

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

Stochastic Oscillator : 70.74 | Neutral Zone | Neutral

Resistance And Support Levels :​

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

Overall Sentiment: Neutral Market Direction: Buy​

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

ETHEREUM​

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

Introduction​

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

Markets In Focus Today – BITCOIN​

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

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

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

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

Simple :​

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

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

Stochastic Oscillator : 86.02 | Buy Zone | Positive

Resistance And Support Levels :​

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

Overall Sentiment: Bullish Market Direction: Buy​

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

CARDANO​

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

Introduction​

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

Markets In Focus Today – BITCOIN​

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

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

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

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

Simple :​

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

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

Stochastic Oscillator : 86.84 | Buy Zone | Neutral

Resistance And Support Levels :​

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

Overall Sentiment: Bullish Market Direction: Buy​

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

ETHEREUM​

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

Introduction​

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

Markets In Focus Today – BITCOIN​

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

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

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

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

Simple :​

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

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

Stochastic Oscillator : 86.84 | Buy Zone | Neutral

Resistance And Support Levels :​

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

Overall Sentiment: Bullish Market Direction: Buy​

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

ETHEREUM​

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Daily Crypto Analysis – Crypto Surge, Ripple Falters Again.​

Introduction​

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

Markets In Focus Today – BITCOIN​

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

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

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

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

Simple :​

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

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

Stochastic Oscillator : 82.14 | Neutral Zone | Neutral

Resistance And Support Levels :​

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

Overall Sentiment: Bullish Market Direction: Buy​

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

DOGECOIN​

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

Introduction​

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

Markets In Focus Today – BITCOIN​

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

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

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

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

Simple :​

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

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

Stochastic Oscillator : 85.16 | Buy Zone | Neutral

Resistance And Support Levels :​

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

Overall Sentiment: Bullish Market Direction: Buy​

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

ETHEREUM​

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Daily Crypto Analysis – Bitcoin, XRP, Chainlink dynamics.​

Introduction​

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

Markets In Focus Today – BITCOIN​

Bitcoin Flat As Traders Look Forward To The ‘Year Of The Dragon’.​

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

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

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

Simple :​

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

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

Stochastic Oscillator : 81.89 | Buy Zone | Neutral

Resistance And Support Levels :​

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

Overall Sentiment: Bullish Market Direction: Buy​

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

RIPPLE​

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

Introduction​

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

Markets In Focus Today – BITCOIN​

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

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

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

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

Simple :​

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

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

Stochastic Oscillator : 75.8080 | Buy Zone | Negative

Resistance And Support Levels :​

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

Overall Sentiment: Bullish Market Direction: Buy​

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

ETHEREUM​

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Daily Crypto Analysis – Ethereum, Ripple, Bitcoin dramas.​

Introduction​

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

Markets In Focus Today – ETHEREUM​

Ethereum Nears A Recent Turning Point.​

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

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

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

Simple :​

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

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

Stochastic Oscillator : 79.7122 | Buy Zone | Positive

Resistance And Support Levels :​

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

Overall Sentiment: Bullish Market Direction: Buy​

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

RIPPLE​

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