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Is this reset a prelude to the rally? Analysis on BTC, ETH, and SOL

Updated: Aug 23, 2024
Published: Jul 9, 2024
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The market's recent rollercoaster ride has left many traders dizzy, but we know that volatility often breeds opportunity. 

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In today’s market direction, we'll unpack the latest trends in Bitcoin, Ethereum, and Solana - revealing the hidden signals that could shape your trading strategy.

We’ve also added some educational parts to the market direction below to help explain the more complicated parts of the analysis. 

This analysis should help you make sense of the noise on crypto Twitter and stay ahead of the curve. 

Let's dive in!

Key questions

  • Is Bitcoin's recent market reset a bearish sign or the setup for a healthy climb? Our Open-interest analysis reveals surprising insights.
  • What do the twin bullish divergences in BTC's chart suggest about its short-term potential? The answer may shock you.
  • Ethereum's on the move, but can it overcome a critical resistance level? We break down the key price points to watch.
  • Are the upcoming ETH ETFs already priced in, or is there hidden upside potential? Our take might change your perspective.
  • Solana's in a downtrend, but is a violent breakout on the horizon? Discover the crucial levels that could trigger a major move.
  • Is there a "value territory" for SOL that smart money is eyeing? Our long-term analysis points to an unexpected price zone.
Disclaimer: This is 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 RR trading tool to help you quickly understand our analysis. These are not signals, and they are not financial advice.


BTC

  • Bitcoin's Open Interest is down just under 30% from the highs, and so far, it hasn't bounced from the lows. This resetting suggests a healthier market that no longer has excesses.
  • Bitcoin's Funding Rate has...

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