Log in

Market Analysis

Multi-Format Thursday – Vol 31

Updated: Aug 31, 2024
Published: Mar 3, 2022
0
Share:

Welcome to Multi-Format Thursdays, where we analyse the cryptocurrency market in both text & video formats.

Post Feature Image

Disclaimer: Not financial nor investment advice. Any capital-related decisions you make are your entire responsibility and yours only.

Total Market Cap

aligncenter size-large wp-image-203508

This week the Total Market Cap saw its largest daily gain since September, reclaiming $1.75T in the process. It's important to note that the bearish structure remains intact, and to alter that at this moment in time, the Total Market Cap would need to reclaim $2T.

Bitcoin

aligncenter size-large wp-image-203509

To recap, BTC has begun to alter its bearish structure by printing a higher high. We look towards that being confirmed by Bitcoin closing this week green (a higher low). $45,000 is proving to be an obstacle once again, and breaking above that would open the door back up to $53,000 and possibly even higher.

Ether

aligncenter size-large wp-image-203510

ETH is one step behind Bitcoin, where, as no higher high was created, its bearish structure remains intact on the weekly timeframe. So we're looking to whether it can create a higher low to begin to alter that.

DOT

aligncenter size-large wp-image-203511

DOT's downtrend is still intact, and all we see at the moment is price retesting resistance at $19.40. $15 is currently support and, until we see a structure change/sign of strength, $10 is its support below that.

SNX

aligncenter size-large wp-image-203513

Three days ago, SNX printed a bullish daily engulfing candle but had failed to capitalise on it. It has found support at $3.60, but it's not a level that we would consider trading from at this moment in time, given the number of tests that it's seen.

RUNE

aligncenter size-large wp-image-203514

$3 was tested and served as a good source of liquidity once again. Any close below that wouldn't have looked good. $6 remains an important level that we really want to see it reclaim. But it is positive to see that RUNE could very well be beginning to break its bearish structure here.

SOL

aligncenter size-large wp-image-203515

SOL also saw a good move to complement Bitcoin's gains on Feb 28th. This has brought it up to the psychological $100 level, meeting resistance once more. Its bearish structure remains intact, and the safest bet at this time remains to see a reclaim of $125.

SRM

aligncenter size-large wp-image-203516

Even with a slight change in daily market structure (HL) and reclaim of $2 by a bullish engulfing candle, SRM still has a fair bit to go to alter its market structure. The safest play is waiting for a weekly reclaim of $3.

FTT

aligncenter size-large wp-image-203517

FTT remains within the $35-$50 range. It did close back above the intermediate pivot level, positioned at $43.50 with a daily bullish engulfing, and it looks like it may be coming back to retest it as support. As long as this level holds, we may well be seeing a move back up to $50.

MINA

aligncenter size-large wp-image-203518

MINA continues to move downwards. Although we have seen it reclaim $2.10 with a bullish candle, the downtrend remains pretty much intact on all timeframes, making it risky to trade until $3 is reclaimed.

dYdX

aligncenter size-large wp-image-203519

dYdX's downtrend continues, but with no historical price action around these levels, it is slightly different to MINA. We've seen two bullish engulfing daily candles from the $5 level, which could indicate a short term bottom that could well see its price move back towards $7.50 once again.

 

100% Success Money Back Guarantee

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

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

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.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

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.

Recommended from Cryptonary
This Week's Setup: 27th of October
Market Updates
This Week's Setup: 27th of OctoberIt’s a big week in markets, and you don’t want to miss what’s coming. The Fed meets, Trump and Xi ar...
7 min read
Oct 27, 2025
BTC, ETH and More: Breakouts Loom on Pennants, Key Levels Ahead
PRO
Market Direction
BTC, ETH and More: Breakouts Loom o...The market is coiling in pennants after the inflation beat. All eyes on major resistance and breakdo...
6 min read
Oct 24, 2025
Market Pulse: Softer Inflation Fuels Fed Cut Hopes
PRO
Market Pulse
Market Pulse: Softer Inflation Fuel...Inflation surprised to the downside, easing Fed pressure and sparking rebounds in both TradFi and BT...
3 min read
Oct 24, 2025