Log in

Market Analysis

Multi-Format Thursday - Volume 4

Updated: Aug 31, 2024
Published: Aug 19, 2021
0
Share:

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

Post Feature Image

 

BTC

aligncenter size-full wp-image-143171

Bitcoin has lost $45,000 as support but other market factors are hinting towards a further continuation of this run up - namely the low funding rate for perpetual futures. Where do prices go from here? There are decent odds, should $45k not get reclaimed over the coming days, that BTC visits the $40,000 level of support out of which is recently broke out. We speculate that price would not dip deeper than that price in the mid-term; unless an unforeseen fundamental catalyst hits the market.

ETH

aligncenter size-full wp-image-143173

Similar to BTC, Ether has turned a support into resistance - $3,200. This is certainly not a bullish development for price in the short-term; unless there is a reclaim in the coming days. Ultimately, the upcoming move is not very clear yet but will be highly dependent on where BTC moves to next and hence keeping an eye on its price action will be important.

DOT

aligncenter size-full wp-image-143172

DOT rallied from $19.40 towards $27 as previously outlined. Given the indecision of the market, it'll be dependent on where BTC moves to next, either a test of $15 & $19.40 first or a reclaim of $27 and a rally towards $40.

SNX

aligncenter size-full wp-image-143177

SNX is at the ~$11 liquidity area of support which by nature is bullish but we highly stress the point that it all depends on what BTC does next. If Bitcoin stays flat then SNX could rally again towards $12.40 but if it falls, SNX would not be immune.

RUNE

aligncenter size-full wp-image-143176

RUNE setting up higher highs and higher lows on an intermediate basis, but once again we'd like to stress the fact of the high BTC dependency here.

SOL

aligncenter size-full wp-image-143178

SOL has been rallying relatively hard compared to the remainder of the market. There is an intermediate level of support at $60 but wouldn't hold much strength if BTC were to drop towards $40,000 - it would rather be [$50-$55] that holds price down.

SRM

aligncenter size-full wp-image-143179

SRM tested the $8.50 area of resistance and has since rejected it. From here, a reclaim is possible but a test of $6.40 may be more probable given Bitcoin's current price action.

MINA

aligncenter size-full wp-image-143175

MINA is seeing smaller moves to the upside on each of the recent legs which is slightly worrying but once again highly dependent on where BTC moves to next.

XRP

aligncenter size-full wp-image-143181

XRP seems to be continuing its journey towards $1 after the loss of the $1.25 area of support.

 

 

Disclaimer: NOT FINANCIAL NOR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make and only you are accountable for the results.

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