Welcome to our first weekly brief of this year. Here you will find what is going on on the markets and what are expected events in week 01. It should help you with jumping back on track.
Fundamentals and expected events: week 01
- Cryptocurrencies: The last days of 2020 and the first days of the new year were marked by high volatility, FOMO and rising prices, especially of Bitcoin. Bitcoin achieved a revenue of over 300% for the last year, thanks to growth at the end of the year. Yet during today alone, Bitcoin has fallen by more than 13% in just a few hours. However, altcoins did not copy the decline and continued to grow, with a few exceptions.
- Stock and commodity markets: As for traditional stock markets, some stocks are also rising slightly, mainly due to optimism about the information on the Brexit agreement, the approval of a new stimulus package in the USA and the emerging distribution of COVID-19 vaccines. Precious metals strengthened by about 25% last year, while oil fell by about 25%.
- Important events: A meeting of OPEC countries is taking place today, and a meeting of the US Fed is up later this week, and statistics on the unemployment rates in the USA and other countries are also expected.
Cryptomarkets and marketcap: week 01
- Today, we reached a marketcap value of $859 billion.
- Last week we were recording a low of $701 billion and a high $907 billion. Bitcoin is low at $26 170 over the same period. High on Bitcoin at $34 538, now $31 430.
- Bitcoin dominance is now 68,5%.
- Market sentiment is at 94 points, still meaning extreme greed, last week it was at 92 points.
Bitcoin price today is $31 430,92 USD with a 24-hour trading volume of $84 845 127 479 USD. Bitcoin is down 6,07% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $584 318 195 343 USD. It has a circulating supply of 18 590 556 BTC coins and a max. supply of 21 000 000 BTC coins.
On January 4, 2020, the price of bitcoin slid to the lowest point of the year dropping from Sunday’s high of $33,800 per unit to $27,734 a few minutes after 5 a.m. (EST). In fact, the price dip filled CME Group’s large futures gap after the regulated exchange has seen six consecutive gaps since the run-up.
Support: 30 000 USD
Resistance. 31 500 USD, 34 500 USD, 38 500 USD
Ethereum price today is $1 100 USD with a 24-hour trading volume of $61 529 421 780 USD. Ethereum is up 12,11% in the last 24 hours. The current CoinMarketCap ranking is #2, with a market cap of $113 995 769 135 USD. It has a circulating supply of 114 114 759 ETH coins.
Ethereum slumped to $860 low and pulled back after rejection from the $1,100 resistance zone. This breakout catapulted the coin to rally to $1,159.40 and pulled back. Today, Ether has broken its previous price level of $838 in April 2018. The next attempt is to break the $1,424 January 2018 historical price level. Ether is currently correcting upward, if it faces rejection, the downtrend will resume again.
Support: 1 100 USD, 860 USD
Resistance: 1 350 – 1 424 USD
Polkadot price today is $9,19 USD with a 24-hour trading volume of $3 476 958 057 USD. Polkadot is down 1,46% in the last 24 hours. The current CoinMarketCap ranking is #6, with a market cap of $8 239 974 330 USD. It has a circulating supply of 896 623 264 DOT coins.
Polkadot (DOT) is a relatively new DEFI project. The year 2021 really began at a time when it added to its current high of $ 10,51 to + 24%. The current decline is related to the consolidation cycle to support at 8,89 and the subsequent increase to 10,2-10,5 USD. As part of the cycle, we are already observing the C wave. The current resistance will be 10,3-10,5 USD, if the DOT can break it, the next resistance will be 11,5 USD.
Support: 8,89 USD
Resistance: 10,5 USD, 11,5 USD.