After optimistic data on inflation, the crypto market is moving into realization

Cryptocurrencies track global exchanges and go into realization after January gains. Today, in addition to retail sales, we had US producer inflation data, both of which led to a prospect of an inflationary slowdown, which is positive for both markets.

Thaysa Paiva

On the monthly chart of Ethereum, we can see an uptrend as we had the formation of a rising bottom, i.e. a bottom higher than the previous bottom, and right now we are looking for a rising top.

I see it though Which structure of the construction of the uptrend as a fragile structure, because the rising bottom formed was very close to the previous bottom, that is, the bears managed to bring the price close to the previous bottom and I see EMAS 12 and 26 as a probable resistance.

Well, we know that the chart needs a rising top.

On the weekly we also see an upward trend, in the same way as the previous chart. Bulls try to push the price higher as the chart calls for a rising top, and even after winning the EMAS I see an apparent area of ​​resistance near the penultimate top as an obstacle. For now, we are in an uptrend.

In the daily we see an upward trend, very similar to the movement of the BTC. the PThe price has been carried by the bulls in a runaway far from the previous top and bottom, but over the past few days we have seen signs of exhaustion of bullish strength.

Then there is the need to find the rising top, to later form a rising bottom. So in my opinion I see that at any point the bears will take control of the price to at least form a bullish bottom.

So we can say that ETH is still correlated with the Bitcoin, with very similar movements. And that the DAILY charts of both need to be corrected to continue the healthy uptrend. (See full review).

IG crypto

The daily BTC chart remains at the top at $21460.0. I believe we can accumulate in that area that I marked in the box where the price is.

With the price returning below the box, we have confirmation of further declines for BTC, with the opportunity to have the possibilities and look for the fibonacci pullback regions that are at 0.5 and 0.61. But if the price continues above this $21460.0 resistance, we have an opportunity to hit the $22k to $25k boxes.

We remain above the period averages of 20, 40 and 80, which still carries buying pressure, but as it is far from the averages, there may be a pullback to get back close to the averages.

Continuous RSI indicator in the overbought region, in this region it is very risky to want to take long positions as the market may have a pullback to seek the pivot zone which is at US$17k to US$18k. (See more about Bitcoin).


BTC rIt broke the down trendline it has respected since August 2022 and has yielded more than 30% up since its last bottom at 15476.

Another important point is that we don’t see it BTC above 12 and 26 emas since March 2022. Many Altcoins followed the movement of the BTC and some surpassed 100% high! Investors left out of the move and conservative bulls await corrections in the market seeking price basis.

Let’s follow the next steps of the BTC , keeping an eye on upcoming resistances and movements. (See Cryptocurrency Ideas).

Leandro Sandra

on 09/01/23 AVAX got on our radar and after testing a highly relevant part of the weekly, it left signs that it could make a strong move.

What can we look forward to now that the move has taken place? In my reading, we can wait for a test in the EMA 200 for immediately after the start of a correction.

The zones where I will be watching the price reaction are $13.00, POC zone of the consolidation and opening of the last push bar. (See Pivot Chart).

disclaimer: The analyzes presented here are studies only. They are not investment, buy or sell recommendations, nor do they represent the views of the media tool in which they are published. These studies are aimed at people with knowledge and experience in the financial market.

Our authors: Thaysa Paiva, IG Cripto, MRscot and Leandro Sander.

Source: Live Coins