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Market Analysis

Crypto is down… what can you do about it? | April 24th

Updated: Jul 25, 2024
Published: Apr 24, 2023
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After weeks of dithering, the market has chosen the bearish route and is now heading for new lows.

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Some very important levels were lost last week, and unless they’re reclaimed, the market will experience a pullback in the coming weeks.

In this week’s report, we go over targets and invalidations for our top picks.

TLDR 📜

  • We’re testing a new charting format. You’ll find everything on each chart in one glance.
  • Total Market Cap, BTC, RUNE, DYDX, PENDLE, DOT, OP, LDO, ASTR, and MINA all closed as bearish engulfings last week, in which an up candlestick is followed by a larger downward candlestick that engulfs the smaller one. This pattern suggests increased selling pressure, and these asset prices will likely continue descending in the coming weeks.
  • ETH lost $2,000 as support. It is now on track for $1,740 unless $2,000 is reclaimed (weekly closure above this level is required).
Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. "One Glance” by Cryptonary sometimes uses the R:R trading tool to help you understand our analysis very quickly. They are not signals and they are not financial advice. Any capital-related decision you make is your responsibility and yours only.

Total Market Cap (Weekly)

The Total Market Cap index represents the entire cryptocurrency market. We track this index to understand where the market is now and predict where it will likely go next.

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Altcoins Market Cap (Weekly)

The Altcoins Market Cap index represents the entire evaluation of the altcoins market (all coins other than BTC). 

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Cryptonary's Portfolio

BTC | Bitcoin (Weekly)

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ETH | Ethereum (Weekly)

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DYDX | dYdX (Weekly)

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LDO | Lido DAO (Weekly)

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HEGIC | Hegic (Weekly)

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PENDLE | Pendle (Weekly)

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Cryptonary's Watchlist

DOT | Polkadot (Weekly)

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RUNE | THORChain (Weekly)

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SOL | Solana (Weekly)

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SNX | Synthetix (Weekly)

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SYN | Synapse (Weekly)

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MINA | Mina Protocol (Weekly)

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Astar | ASTR (Weekly)

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THOR | THORSwap (Weekly)

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OP | Optimism (Weekly)

mobileshow aligncenter wp-image-271399 size-full mobilehide aligncenter wp-image-271400 size-fullCryptonary’s take 🧠

When the market tells us something, we always listen. As bears regain control, we’ll likely witness a red market for a few weeks.

We believe a pullback is necessary to keep the trend healthy. It gives us an opportunity to get in lower and it’s beneficial to avoid a market exhaustion dynamic in which prices are overbought, leading to a fast descent.

Action points 🎯

  • As soon as BTC reaches $25,150, alts will likely find support as well. This is when you’ll want to start buying, not before.
  • Altcoins will experience a much more aggressive drop compared to BTC. If you believe you’re overexposed in the altcoins market, reducing that exposure is ideal.
Please visit our Discord community with questions and comments. We’d like to hear your thoughts on our new format.✌️

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Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

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Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

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