Ah, a new US presidency—what’s that? A great undoing of all the *wonderful* anti-crypto policies from the old regime! Meanwhile, Bitcoin has joyfully surpassed $105,000, and the altcoins, well, they’re not sitting on the sidelines anymore. Is this the start of the grand crypto fireworks? Or is it just another overhyped jump? 🎇
Total3 breakout just around the corner?
And here comes the Total3 chart, the one that tracks the combined market capitalization of all cryptocurrencies excluding $BTC and $ETH—because, apparently, those two have enough attention. As we gaze upon the chart, it almost feels like Total3 is about to escape from its little prison. The 0.786 Fibonacci level has already been overcome (kudos), and the price is just chilling above that level, as well as comfortably above the wedge it started forming back in December 2024. Oh, and the real fun starts when we break the $1.13 trillion resistance! This could very well be the prelude to price discovery, or as I like to call it, “the race to the moon!” 🚀
40-year descending trendline gives the US dollar the cold shoulder
Now, let’s switch gears and talk about the Dollar Index (DXY)—you know, the exact opposite of a bullish sign for crypto. When the dollar’s on top, it’s like crypto’s worst enemy, and when it’s on the decline, well, then crypto might just start wearing sunglasses and basking in the sun. ☀️ Remember when Trump came into office? He was all about falling interest rates and making the dollar weaker. He didn’t get what he wanted, but here’s a little twist: the chart is showing us the DXY rejecting its 40-year downtrend. Combine that with strong horizontal resistance, and you’ve got yourself a wall that no one can climb. As the dollar falls during the current administration, crypto’s gonna make the most of it—grab your popcorn! 🍿
$SOL leading the altcoin parade into price discovery
If there’s one altcoin that seems to be taking the lead on this thrilling rollercoaster, it’s Solana (SOL). It’s the one out there *waving the flag* as it enters what could be the final, exhilarating phase of the bull market. Right now, SOL is holding steady above the important resistance at $252, and the bulls are all hoping to see it hang on to that level by the end of the week. If it does, get ready for the next leg up, with the Stochastic RSI giving us all the vibes of an impending price surge. One potential target is the 1.618 Fibonacci at $416, but let’s not get too comfortable; who knows, maybe higher prices are in the cards. Get your wallets ready! 💸
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2025-01-24 15:16