BEST CRYPTO TECHNICAL ANALYSIS BY CAPITAL STREET FX

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Weekly Crypto Analysis – Bitcoin up, Ethereum down, Dogecoin active, Chainlink rising.​

Introduction​

Bitcoin’s resurgence to $43,000 signals a recovery after a week-long dip, with on-chain metrics hinting at a potential rally. Declines in profit-taking by BTC whales provide room for extended gains. Meanwhile, Ethereum erases recent gains, facing a significant bearish signal. Dogecoin sees a marginal uplift despite increased network activity, and Chainlink, an outlier in the volatile altcoin market, faces a potential 20% correction. The crypto landscape remains dynamic, with on-chain indicators influencing asset trajectories.

Markets In Focus Today – BITCOIN​

Bitcoin Price Recovers As On-Chain Metrics Point To A Potential BTC Rally.​

Bitcoin price tests resistance at $43,000, recovering from a week-long slump. Bitcoin on-chain metrics signal a likelihood of a BTC price rally. BTC profit-taking by whales has declined, paving the way for extended price gains. Bitcoin (BTC) price tested resistance at $43,000 on Friday, recovering from declines earlier this week, in a sign of increasing buying pressure after a choppy week. Some of the asset’s on-chain metrics support the thesis of further price gains ahead, although Bitcoin price has been moving broadly sideways for the last two months. The asset could kick-start a potential rally as on-chain metrics are bullish and renewed BTC ETFs inflows after weeks of massive GBTC outflows.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 42576.36 | Positive Crossover | Bullish
• MA 20 : 42457.91 | Positive Crossover | Bullish
• MA 50 : 42090.86 | Positive Crossover | Bullish

Simple :​

• MA 10 : 42432.69 | Positive Crossover | Bullish
• MA 20 : 41940.23 | Positive Crossover | Bullish
• MA 50 : 42975.56 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.44 | Buy Zone | Bullish

Stochastic Oscillator : 85.16 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 47387.23 R2 : 49860.60
• S1 : 39380.20 S2 : 36906.83

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Stop Buy: 43407.56 | Take Profit: 45221.06 | Stop Loss: 42394.13

ETHEREUM​

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Daily Crypto Analysis – Bitcoin, XRP, Chainlink dynamics.​

Introduction​

Bitcoin remains flat at around $42,000 as East Asia anticipates the Lunar New Year, marking the start of the ‘Year of the Dragon.’ Despite a sell-the-news effect in the crypto market, optimism prevails due to controlled inflation and an upcoming Bitcoin halving event. Meanwhile, XRP trades unchanged ahead of a crucial milestone in the SEC vs. Ripple lawsuit on February 12. Chainlink sees a price rebound as large wallet holders strategically accumulate LINK tokens, while Dogecoin’s price stability hints at potential bottom formation despite recent network activity spikes.

Markets In Focus Today – BITCOIN​

Bitcoin Flat As Traders Look Forward To The ‘Year Of The Dragon’.​

Bitcoin (BTC) traded flat, hovering over $42,000 early Monday, while the CoinDesk 20 Index {{CD20}} is down 0.75% at 1,643, according to CoinDesk Indices data, as nations in East Asia count down the last working days before the Lunar New Year holiday. Over the next few days, East Asia will celebrate the start of the year of the dragon, considered one of the luckiest and most prosperous animals in the Chinese Zodiac. Despite the crypto market currently experiencing a sell-the-news effect, the year of Dragon is on track to be one of the best performing as the inflation is now under control and the bitcoin halving event takes place later this year.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 42683.30 | Positive Crossover | Bullish
• MA 20 : 42535.76 | Positive Crossover | Bullish
• MA 50 : 42151.49 | Positive Crossover | Bullish

Simple :​

• MA 10 : 42823.99 | Positive Crossover | Bullish
• MA 20 : 41941.95 | Positive Crossover | Bullish
• MA 50 : 43019.07 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.82 | Buy Zone | Bullish

Stochastic Oscillator : 81.89 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 47387.23 R2 : 49860.60
• S1 : 39380.20 S2 : 36906.83

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Stop Buy: 43460.89 | Take Profit: 45061.04 | Stop Loss: 42447.47

RIPPLE​

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Daily Crypto Analysis – Bitcoin, Ethereum, XRP, Uniswap.​

Introduction​

Bitcoin’s price appears poised for a 5% drop despite Powell’s bullish outlook, with technical indicators signaling limited upside potential. Ethereum (ETH) maintains a range between $2,266 and $2,333, facing resistance at recent highs, while the staking ratio surges to 24%. XRP holds steady above $0.50 amid setbacks in the SEC vs. Ripple legal battle. Uniswap (UNI) eyes a bullish move towards $7 after introducing a new feature, trading above $6.00 and the 100 simple moving average.

Markets In Focus Today – BITCOIN​

Bitcoin Price Is Likely To Fall 5% Despite Powell’s Bullish Thesis For Bitcoin.​

Bitcoin price continues to trade horizontally with technical indicators showing limited upside potential. BTC could drop 5% after a multi-week consolidation below the $43,750 blockade. The bearish thesis will be invalidated if the price breaks and closes above $46,000. Fed chair Jerome Powell said the US is on an “unsustainable path” as debt will outpace economic growth. In his opinion, investors will soon question the government’s ability to pay its debt, which will push them towards dumping the US dollar in favor of a hedge. In such a turn of events, Bitcoin would pass as the best candidate for this hedge.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 42628.0793 | Positive Crossover | Bullish
• MA 20 : 42517.1815 | Positive Crossover | Bullish
• MA 50 : 42157.9179 | Positive Crossover | Bullish

Simple :​

• MA 10 : 42830.6130 | Negative Crossover | Bearish
• MA 20 : 41917.0685 | Positive Crossover | Bullish
• MA 50 : 43012.1772 | Negative Crossover | Bearish

RSI (Relative Strength Index): 51.6391 | Buy Zone | Bullish

Stochastic Oscillator : 75.8080 | Buy Zone | Negative

Resistance And Support Levels :​

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Stop Buy: 43418.52 | Take Profit: 44722.75 | Stop Loss: 42626.67

ETHEREUM​

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Daily Crypto Analysis – Ethereum, Ripple, Bitcoin dramas.​

Introduction​

Ethereum approaches a critical juncture, gaining 1.6% to $2,350 but facing resistance near $2,400—a historical turning point. Meanwhile, XRP faces a potential downside as Ripple seeks a deadline extension in the SEC lawsuit. Bitcoin maintains an uptrend, with Chinese investors favoring US-focused ETFs. Chainlink experiences a rebound as large wallet investors strategically accumulate LINK tokens, triggering a price surge. Cryptocurrency markets are influenced by key levels, legal developments, and global investor trends.

Markets In Focus Today – ETHEREUM​

Ethereum Nears A Recent Turning Point.​

The crypto market cap remained at $1.65 trillion. Ethereum was a major growth driver, gaining 1.6% on the day to $2,350 and reversing to the downside as it approached $2,400. This is the same place where we saw a reversal at the end of January and for a month since the beginning of December. In December, the coin managed to hold above this reversal level for almost a fortnight, but with the current lull in the markets, a temporary pullback to the lower end of the range towards $2,200 looks more likely.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 2325.0890 | Positive Crossover | Bullish
• MA 20 : 2331.7122 | Positive Crossover | Bullish
• MA 50 : 2311.0629 | Positive Crossover | Bullish

Simple :​

• MA 10 : 2317.9250 | Positive Crossover | Bullish
• MA 20 : 2319.9590 | Positive Crossover | Bullish
• MA 50 : 2346.5422 | Positive Crossover | Bullish

RSI (Relative Strength Index): 53.4167 | Buy Zone | Bullish

Stochastic Oscillator : 79.7122 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 2598.0773 R2 : 2733.3927
• S1 : 2160.0227 S2 : 2024.7073

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Stop Buy: 2377.15 | Take Profit: 2461.21 | Stop Loss: 2329.51

RIPPLE​

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Daily Crypto Analysis – Bitcoin, Ethereum surge, Chainlink mystery.​

Introduction​

Bitcoin sustains its uptrend as Chinese investors shift from the local market to US-focused ETFs. The price remains within the upper Bollinger Indicator range, potentially making a 5% move upwards to surpass the $43,750 hurdle. Ethereum gears up for gains with the Dencun upgrade on the Holesky testnet, while Uni-swap sees a 4.49% increase in the last 24 hours. A mysterious buyer acquires $42 million in Chainlink (LINK) tokens, sparking speculation and driving the cryptocurrency’s surge.

Markets In Focus Today – BITCOIN​

Bitcoin Price Sustains An Uptrend As Chinese Investors Stampede Out Of The Local Market In Favor Of US-Focused ETFs.​

Bitcoin price is trading horizontally, trapped within the upper range of the Bollinger Indicator.BTC could make a 5% move north soon to clear the $43,750 blockade as volatility increases. A strong break and close below the center-line of the Bollinger at $41,880 would invalidate the bullish thesis.ETF specialist Eric Balchunas highlights how Chinese investors are flocking to the US ETF market. Bitcoin’s (BTC) price continues to sustain its bullish outlook, holding above a key support level. Among other drivers, the spot BTC exchange-traded fund (ETF) theme continues to drive markets even as the investor countdown to the halving event continues.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 43262.1597 | Positive Crossover | Bullish
• MA 20 : 42887.8580 | Positive Crossover | Bullish
• MA 50 : 42343.4271 | Positive Crossover | Bullish

Simple :​

• MA 10 : 43206.8140 | Positive Crossover | Bullish
• MA 20 : 42223.8335 | Positive Crossover | Bullish
• MA 50 : 43076.1382 | Positive Crossover | Bullish

RSI (Relative Strength Index): 61.6088 | Buy Zone | Bullish

Stochastic Oscillator : 91.3043 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 44614.62 | Take Profit: 45515.19 | Stop Loss: 43372.90

ETHEREUM​

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Daily Crypto Analysis – Bitcoin hits $46.2K, Ethereum $2,400.​

Introduction​

Bitcoin surges, marking a new high in crypto market capitalization since January 12, surpassing $1.75 trillion. Bitcoin’s recent 10% gain, reaching $46.2K in four days, draws attention to its potential to break previous highs. Cardano (ADA) anticipates a 30% climb with a break above $0.5410, while Ethereum hits $2,400 fueled by ETF anticipation. XRP faces a potential decline below $0.50 amid uncertainty over an XRPLedger AMM amendment. Market dynamics suggest a revival, altering the outlook for Cardano and Ethereum.

Markets In Focus Today – BITCOIN​

Bitcoin Rises Ahead Of Schedule.​

The crypto market capitalization has hit new highs since 12th January, passing the $1.75 trillion mark. The market has confidently moved into a state of greed, which we also last saw a month ago. Last month’s corrective pullback and early February’s consolidation have helped gather strength for a real breakout. Bitcoin has gained almost 10% in the last four days to trade at $46.2K. All eyes are now on whether BTCUSD can break above the previous highs from which it pulled back shortly after the initial reaction to the launch of spot ETFs.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 44025.5288 | Positive Crossover | Bullish
• MA 20 : 43329.9591 | Positive Crossover | Bullish
• MA 50 : 42548.5755 | Positive Crossover | Bullish

Simple :​

• MA 10 : 43669.4930 | Positive Crossover | Bullish
• MA 20 : 42517.1160 | Positive Crossover | Bullish
• MA 50 : 43150.4340 | Positive Crossover | Bullish

RSI (Relative Strength Index): 70.4534 | Buy Zone | Bullish

Stochastic Oscillator : 97.4049 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 45760.44 | Take Profit: 47362.01 | Stop Loss: 44781.71

CARDANO​

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Weekly Crypto Analysis – Bitcoin $47K, Ethereum $2.4K, Cardano bullish.​

Introduction​

Cryptocurrency stocks surge as Bitcoin surpasses $47,000, pushing the crypto market capitalization beyond $1.75 trillion. After a month of corrections, Bitcoin’s 4.5% rise signals renewed market optimism. Ethereum hits $2,400 with ETF anticipation and 25% staking reducing selling pressure. XRP faces uncertainty with an AMM amendment, while Cardano’s potential 30% surge is anticipated amid a market revival, breaking a descending triangle at $0.5410. The crypto landscape is evolving, showcasing signs of recovery.

Markets In Focus Today – BITCOIN​

Crypto Stocks Leap As Bitcoin Crosses $47,000.​

Bitcoin (BTC) crossed the $47,000 mark on Friday for the first time in almost a month, pushing crypto-related stocks into the green ahead of the stock market open. The leading cryptocurrency rose 4.5% in the past 24 hours, sitting at around $47,300 at the time of writing. The crypto market capitalization has hit new highs since 12th January, passing the $1.75 trillion mark. The market has confidently moved into a state of greed, which we also last saw a month ago. Last month’s corrective pullback and early February’s consolidation have helped gather strength for a real breakout.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 44664.8142 | Positive Crossover | Bullish
• MA 20 : 43733.5166 | Positive Crossover | Bullish
• MA 50 : 42746.0413 | Positive Crossover | Bullish

Simple :​

• MA 10 : 44170.8670 | Positive Crossover | Bullish
• MA 20 : 42816.5615 | Positive Crossover | Bullish
• MA 50 : 43220.9448 | Positive Crossover | Bullish

RSI (Relative Strength Index) : 71.9283 | Buy Zone | Bullish

Stochastic Oscillator : 88.5202 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 46150.40 | Take Profit: 48924.02 | Stop Loss: 44385.37

ETHEREUM​

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Daily Crypto Analysis – Bitcoin, XRP, Dogecoin, and Chainlink surge ahead.​

Introduction​

Bitcoin experiences a substantial rally, marking its most significant weekly surge in four months, reaching one-month highs. Analysts attribute the surge to increased buying activity ahead of April’s halving event and a slowdown in ETF outflows. Meanwhile, XRP faces a slight dip as the SEC v. Ripple lawsuit nears the end of the discovery phase, with potential resolution as early as 2024. Dogecoin anticipates double-digit gains, breaking a declining trend line, while a Chainlink whale accumulates $84 million worth of LINK, sparking speculation of a potential surge in the cryptocurrency’s price.

Markets In Focus Today – BITCOIN​

Bitcoin Surges In Biggest Weekly Rally In Four Months.​

Bitcoin rose to one-month highs, powered by what analysts said was a flurry of buying ahead of April’s halving event and as recent outflows from exchange-traded funds slowed. BTC/USD longs had a splendid week. The major crypto has added an eye-watering +10.7%. Bitcoin hit a two-year high just above $49,000 in January but has since trended lower, under pressure from a “sell the news” wave of profit-taking after the Securities and Exchange Commission finally approved the ETFs.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 45819.8409 | Positive Crossover | Bullish
• MA 20 : 44541.3564 | Positive Crossover | Bullish
• MA 50 : 43165.7998 | Positive Crossover | Bullish

Simple :​

• MA 10 : 45187.0510 | Positive Crossover | Bullish
• MA 20 : 43662.7295 | Positive Crossover | Bullish
• MA 50 : 43401.9354 | Positive Crossover | Bullish

RSI (Relative Strength Index): 72.5472 | Buy Zone | Bullish

Stochastic Oscillator : 92.9737 | Neutral Zone | Neutral

Resistance And Support Levels :​

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 47324.88 | Take Profit: 48810.05 | Stop Loss: 46433.79

RIPPLE​

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Daily Crypto Analysis – Bitcoin hits $50K, XRP up 5%, Cardano inflows soar.​

Introduction​

Bitcoin breaks the $50,000 mark for the first time in over two years, potentially aiming for the psychological level of $60,000. However, caution is urged due to overbought conditions. Meanwhile, XRP sees a 5% weekly gain, reaching $0.5380, driven by a potential settlement in the SEC v. Ripple lawsuit. Cardano witnesses an extraordinary 1,016% increase in fund inflows, while Ethereum rallies over 5%, eyeing levels near $2,700 with the prospect of further gains.

Markets In Focus Today – BITCOIN​

Bitcoin Hits $50k Level For The First Time In More Than Two Years.​

Bitcoin price has nicked the $50,000 target, levels last tested on December 28, 2021.BTC could extend the gains to clear the $60,000 psychological level, last tested on November 21, 2021. Caution is advised as BTC is already massively overbought with the RSI reading well above 70. Bitcoin’s (BTC) price revisited the late 2021 highs on Monday, a move that passes as a milestone for the BTC community. It comes ahead of the halving event and therefore sates the pace for what could kickstart the next bull cycle in the cryptocurrency market.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 46876.0334 | Positive Crossover | Bullish
• MA 20 : 45232.4102 | Positive Crossover | Bullish
• MA 50 : 43508.5833 | Positive Crossover | Bullish

Simple :​

• MA 10 : 46083.1990 | Positive Crossover | Bullish
• MA 20 : 44257.4655 | Positive Crossover | Bullish
• MA 50 : 43566.6838 | Positive Crossover | Bullish

RSI (Relative Strength Index): 78.8759 | Buy Zone | Bullish

Stochastic Oscillator : 96.0546 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 48931.72 | Take Profit: 50429.87 | Stop Loss: 48105.15

RIPPLE​

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Daily Crypto Analysis – Crypto markets uncertain amid inflation fears.​

Introduction​

“Bitcoin’s brief ascent to the $50,000 milestone faces challenges as US CPI inflation data points to persistent inflationary pressure, triggering potential price drops. Ethereum eyes a 10% gain, but caution emerges with signs of falling momentum. Ripple reveals crypto custody plans amidst XRP’s sideways trading, while Chainlink hits a one-year high above $20 fueled by increased DeFi adoption and network activity.”

Markets In Focus Today – BITCOIN​

Bitcoin Price $50,000 Milestone Short-Lived As US CPI Inflation Signals Persistent Inflationary Pressure.​

Bitcoin price shocked the market, hitting the $50,000 milestone after two years. BTC could drop 5% into the supply zone turned bullish breaker or confirm an extended fall below $45,554. A higher high above the $50,368 range would invalidate the bearish thesis, bringing $60,000 into focus. US CPI inflation in January printed at 3.1% every year, above the 2.9% market expectation. Bitcoin’s (BTC) price has repelled the $50,000 milestone. The retraction follows the US CPI inflation data, which signaled persistent inflationary pressures.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 47621.5930 | Positive Crossover | Bullish
• MA 20 : 45776.7299 | Positive Crossover | Bullish
• MA 50 : 43799.5841 | Positive Crossover | Bullish

Simple :​

• MA 10 : 46911.3480 | Positive Crossover | Bullish
• MA 20 : 44804.1700 | Positive Crossover | Bullish
• MA 50 : 43733.3678 | Positive Crossover | Bullish

RSI (Relative Strength Index): 80.4816 | Buy Zone | Bullish

Stochastic Oscillator : 94.2667 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 50011.09 | Take Profit: 51626.22 | Stop Loss: 49008.60

ETHEREUM​

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