Cardano, with the recent launch of their Allonzo hard fork and official DEX launch Cardano is now looking to pick up momentum into the beginning of 2022 with its recent rally from ~1.2, areas that i'm looking for continuation are ~1.8 and then ~2. Cardano is just an amazing project in my opinion with a level of ingenuity unmatched by other ecosystems. Currently...
ETH has gained a lot of traction this year, it seems to be consolidating from its recent ATH in October @ 4875. Outflows from ETH this week have been fairly high and even higher than BTC for the month of December with outflows amounting to ~$63.6m this week and ~68.4m this month. Although there are excessive outflows within Ethereum it is most likely large amounts...
BTC overall has been consolidating and taking various hits throughout the past 2 months, this week marks another set of outflows from Bitcoin in the amount of ~$89m. Currently BTC is sitting on a support line ~$49,000. Direction for BTC is uncertain as fund flows are moving into alt-coins relative to BTC dominance (~40%). Currently BTC is in a good area for buying...
Even after recent network outages, SOL is maintaining momentum moving into 2022 in addition to being named Decrypt coin of the year, inflows were the highest for Solana this week according to Coinshares at ~$6.7m flowing into the Solana ecosystem. Currently sitting on a support line at 191.9; Solana could benefit from further upside from this point with additional...
In anticipation for the Alonzo Smart Contract rollout, ADA has seen the second largest weekly inflows (10.1mn based on CoinShares weekly report) pushing it to all time highs (~101B Market Cap) over the past month. ADA has been performing well even during ETH's troughs as it is an alternative DApp platform to ETH. I expect to see a near-term pullback on ADA's...
Bitcoin Dominance: A measure of how much of the total crypto market cap that is comprised of Bitcoin.
i.e. 41% of Total Crypto Market Cap is BTC in this explanation.
When BTC Dominance increases, typically the value of alts decreases against BTC
Vice Versa.
When BTC Dominance decreases, typically the value of alts, increases against BTC.
There are of course...
Right now we see BTC is sitting at 47,000 relatively close to support, I believe this was a necessary pullback after the run crypto has made over the past month. We should see a retest to 51,000 by next week and look to hold that level. BTC Dominance has been down to around 41 (if you don't know what that is it is basically the total crypto market cap that is...
