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Market Analysis

Multi-Format Analysis: Pro

Updated: Jul 25, 2024
Published: Jul 6, 2021
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Welcome to Tuesday's Multi-Format Analysis (Video & Text) exclusively delivered at Cryptonary Pro.

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BTC

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Bitcoin remains in the same [$30,000-$40,000] and hence making assumptions purely based on fundamentals pre-breakout tend to not have the highest odds of success. Price has been attempting to recover slightly by setting subtle higher lows and higher highs but its success is yet to be seen and anything pre-breakout is mere chop.

ETH

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ETH is holding $2,150 as support which keeps the stage set for a test of $2,500. If the London Fork takes place on schedule (15 July) and EIP1559 is implemented, this may have a positive impact on price over the next ten days.

DOT

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DOT needs to see strength from buyers as it is very shallowly sitting at the $15 level of support. If the latter breaks then single-digit DOT becomes on the cards.

SNX

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SNX started pumping off the bottom a day before the rest of DeFi and has now went all the way towards the $12.40 key level. Under it is the ~$11 liquidity area and hence it depends on where the daily candle closes now for further indication as to what the next move may be.

RUNE

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RUNE has caught up today with a double digit advance (%), next key level remains $8.85 for as long as $5.75 holds as support.

SOL

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SOL remains right under the $36 level of resistance. The double-bottom formation is still valid but non-confirmed as only a break of the $42.50 neckline confirms it - technical target would be $64.

SRM

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None of the price action matters until $3.79 is reclaimed on the daily timeframe.

FTT

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FTT has closed slightly under the $25.50 level of support but since it is a bare closure, we must judge based on today's daily candle. If it closes above, then $35 is still on the cards, otherwise another sweep of the lows is possible.

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