Log in

Market Analysis

Weekly Technicals Pro – Volume 90

Updated: Aug 31, 2024
Published: Jan 10, 2022
0
Share:

Nothing has changed with the Funding Rate as it remains stable and positive.

Post Feature Image

 

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.

Market Sentiment

aligncenter size-large wp-image-192434

This week saw the Fear & Greed Index reach 10 for the first time since July. The sentiment has recovered a little since touching 10, but the market remains in Extreme Fear. This index suggests that a bottom may be nearing in the market.

aligncenter size-large wp-image-192436

Looking into the chart above, we can see a slight decline in Open Interest as BTC's price has headed towards $40k, suggesting that a small number of positions have been closed. However, it still remains relatively close to the highs.

Total Market Cap

aligncenter size-large wp-image-192414

With the formation of a weekly lower high, coupled with the failure to reclaim $2.45T, we've seen an immediate decline in the Total Market Cap. The weekly candle closure was under $2T (which is only a psychological level, and we only note this on the daily timeframe). Still, the critical level here is the $1.75T to $1.8T technical support. We'd expect to see this level tested with the market still looking bearish. We highly suggest reading the journal titled 'Are we headed to Goblin Town?'.

Altcoins Market Capaligncenter size-large wp-image-192419

The Altcoins Market Cap tested its weekly support level($1.117T) and closed above. However, should we see the Total Market Cap go down to test support, this index would not be immune, and we would expect to see it move closer to the $1T level.

 

BTCaligncenter size-large wp-image-192428

Bitcoin lost $45k as support and moved towards the lower end of the range, which it tested this week. Whist $45,000 held some weight as support, Bitcoin tested it many times and, as we stated last week, the more that this level is tested, the fewer buy orders there are remaining, and the price eventually moves below support. This was the case here. Price action is still volatile and the market has seen a lot of 'chop and drop'. If we assume that the Total Market Cap will hold its support level of $1.75T and couple it with the Bitcoin chart, we may well see the price dip slightly underneath this support level ($39.5k-$40.5k).

ETH

aligncenter size-large wp-image-192437

Ether (-18%) declined more than Bitcoin (-12%) on the week and closed right underneath the daily support at $3,200. With the loss of the daily support level coupled with the accelerated move towards the lower end of its range, it's increasingly likely that ETH will dip lower towards $2,750 in the near future.

DOT

aligncenter size-large wp-image-192438

DOT closed underneath the liquidity area once more as it moved with the rest of the market. This sets DOT up for a test of $20.

SNX

aligncenter size-large wp-image-192439

Last week we saw a great rally up to $7.50, only to be rejected and close underneath $5.50 support. We can't ignore the large bearish engulfing candle and the creation of a lower high. SNX has $4.45 as a support nearby, but any break below that would see it visit $3.60.

RUNE

aligncenter size-large wp-image-192443

We've now seen RUNE retrace the green candle from 2 weeks ago, and close below $6.75, putting it in the $5.70 to $6.75 range. We'll be monitoring RUNE on the daily timeframe to see if it closes below $5.70, as it would suggest that $4.40 is next.

SOL

aligncenter size-large wp-image-192448

SOL headed straight towards $125-$150 as we expected, and the weekly candle closed midway between these two levels. We'll be watching whether SOL can maintain this level as support on the weekly timeframe. As long as Bitcoin holds the $40k level, we'd also expect this level to hold here.

SRM

aligncenter size-large wp-image-192451

SRM failed to hold $3.80 and headed straight for its support below. $2.88 is its support, and we're expecting a bottom to form anywhere between here and $2.50.

MINA

aligncenter size-large wp-image-192453

MINA has closed another candle within the $3-$4 range. Should the market dip further we will have to see whether MINA can maintain this level as support.

FTT

aligncenter size-large wp-image-192454

FTT is still trading within the $35-$50 range but with a bearish market structure. However, it's held up quite well when compared to the rest of the market and the weekly candle has held support. Should FTT lose this support, it does open the door to a test of $22.50.

dYdX

aligncenter size-large wp-image-192456

dYdX continues to decline in price along with the rest of the market. We're edging closer to our expected bottom of $3-$5.

 

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