On this Sunday, January 16, this is an opportunity to make a point on the current market situation Cryptocurrencies and if an evolution has taken place in recent days. Let's see together the way to favor, if we must modify the one we have currently since the previous market analysis and if there are additional levels to watch. Without further ado, let us go on graphics and operate a detailed analysis of the sector.
Imminent return of cryptocurrencies to resistances?
Analysis of the total market capitalization in the face of the dollar on the 1D time unit on total market capitalization, the situation only evolves with a course which is always found in a weekly. A contraction is becoming clearer between the support (low terminal) around 3,000 billion dollars and the confluence of MA/EMA around 3,200 billion dollars. For the moment, the medium/long term bias remains however bullish And has no reason to be changed, unless the market takes the direction of $ 2,600 billion with a downward resolution of the current range. In this context, unfortunately it is necessary to be patient. For the moment, the low terminal is firmly defended by buyers. In order for the situation to bend in favor of a new upward leg in the short term, carefully monitor market capacity to MA100 get rid of And take the direction of the high terminal. On the side of altcoinsthe course is still under $ 935 billion. This requires a real change on the side of Ethereum so that this asset class can back off on speculative aspects.
Bitcoin dominance, more fit than ever
Analysis of the course of the dominance of the king of cryptocurrencies on the 3D time unit for the king of cryptocurrencies, it is as if he were evolving alone in the world. Despite altcoins in difficulty, evolving in the red, it continues tosuck up And demonstrate your market position on the market. His dominance suffers from new records with a wick of volatility which came to seek 64 %. The last time this area was met on the BTC.D, it is in January 2021ascent altcoins. Note that the context is very different and that it is more complex to navigate the market at present with, both: a fragmentation of liquidity with the explosion of the number of altcoins. Liquidity spills over many projects (and scams). Of the far too high expectations With regard to institutions on the part of the retail a decreeding of the market on certain aspects and an aspiration of capital on projects with much more relevant fundamentals for several months that the thesis is repeated, but as long as the dominance of Bitcoin n ' will not decrease down, it will be complex for Ethereum and the Altcoins to stand out and take the bullish path.
The ETH/BTC pair, an underperformance that will still last?
For Ethereum, there is not much to evoke. Assets continues to underperform Faced with the king of cryptocurrencies, although his ETFs are a success On the ethn ratio emitted/eTh bought. However, many debates are emerging today on the return of a inflationary situation For the assets, of an Ethereum foundation which brings nothing to the assets and a founder with positions sometimes limited.
Cours de la pair ETH/BTC facing the dollar on the time unit 1W however, these fears and this «fud» are born in a context in which the market stakeholders consider that Ethereum can no longer outperform against the king of cryptocurrencies. While Bitcoin is close to 100,000 dollars, the second asset on the market is currently evolving around $ 2,600.
Under his weekly pivotthe bias is lower on many units of time. To relaunch the machine, it is much more than a small rebound that will be necessary. Ethereum will have to make a trend reversal and Take the 0.04 BTC. Without this, it will be a progressive development down in time. Concretely, we are on a rather complex start to the year to apprehend, during which Altcoins take the lead. Ethereum continues its fall against the dollar, the post-top effect is materialized with red on the markets and Inflation is going upwards in the United Stateswhich raises some questions about the short term dynamic, although the upward thesis on the medium/long-term remains unchanged at the moment. Therefore, take consideration more substantially in the commercial policies that take shape and follow the data and speeches of the Fed. This should strongly guide and influence market dynamics.