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Market Analysis

Multi Format Thursday - Volume 20

Updated: Jul 25, 2024
Published: Dec 9, 2021
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Welcome to Multi-Format Thursdays where we analyse the cryptocurrency market in both text & video formats.

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

Bitcoin

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BTC has fallen and broke the $53,000 level of support which was based on the previous high made. From here, $45,000 is support which could be tested again and $53,000 is the level to reclaim for further upside.

Ether

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Very surprising that ETH has barely flinched during this downfall in BTC. From a pure key levels perspective we're maintaining a $10,000 target as long as:

  • $4,200 holds on the daily
  • $3,930 holds on the weekly

DOT

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DOT has held support at $28 but now it is a matter of seeing whether $40 can be reclaimed.

SNX

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Ranging between [$5.50-$7.50].

RUNE

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$7.50, the intermediate level, has been reclaimed with a bullish daily engulfing candle. If RUNE is able to reclaim $8.85 then problem solved, otherwise $5.75 is on the cards.

SOL

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SOL has been setting lows lows in recent weeks and is trading under $200 on the daily. If $175 is lost on the weekly that'd be the last straw as that is what's maintaining a bullish market structure.

SRM

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Found support at $3.79, now it's a question of where the breakout happens from in the [$3.79-$4.50] range.

MINA

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MINA broke $4 and is retesting it as resistance so far which means $3 is likely next.

FTT

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$43.25 is holding on the daily but if it breaks then $35 becomes likely.

DYDX

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Downside price discovery.

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

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