Solana System

For a brief second, and as It reported The Block, it seemed like the hype on Solana was beginning to die down.

The 7-day moving average of active addresses dropped from over 981k at the end of December down to 580k this month, but it has now begun to rebound, climbing back to 767k already.

Bitcoin vs Ethereum

Since December 6th, the 7-day moving average of the average transaction on Bitcoin has exceeded that on Ethereum.

Important liquidity data suggests that above $44k there is a strong liquidity region or wall, where buyers with current long positions could probably pay sellers if they opened short positions.

Classic Of Classics

ETC retraced much of its 77% early January rally, finding support near $22.7223.

January 22nd's daily gap at $23.8338 provided resistance during the weekend's test and could offer resistance again. The 9 and 18 EMAs add confluence to this level.

Bulls might look for possible support near $22.9298, where they rejected bears on January 23rd and accumulated during the week of January 1st.

Bulls' stops under January 23rd and 25th's swing low may be the target if this support breaks. Traders selling the news of the upcoming upgrade could help push the price into these stops.

Under these lows, the unfilled part of January 10th's daily gap from $21.7139 to $21.2333 might provide support. This zone has confluence with January 3rd's daily gap.

Bear's stops above swing highs at $24.6251 and $25.4403 are the targets if the price can break through resistance at January 22nd's daily gap. Above these highs, a small daily gap formed on January 18th at $25.4660 may create resistance.

SKALE Chain

SKL swept bulls' stops under December's swing low at $0.065340 and could have created support near $0.07434.

This level is at the high of January 22nd's now-reclaimed daily gap. The 40 EMA adds confluence to this level. Bulls might find support at this level ahead of February 1st's new feature.

If this support breaks, December 26th's daily gap at $0.06137 may be the next downside target. This level has confluence with November 20th's bearish rejection. Reaching this gap would allow bears to sweep bulls' stops under January 23rd's low.

Bulls might watch for signs of resistance in the lower half of January 27th's candle wick, which begins at $0.07764. This wick swept bears' stops above January 24th's swing high and filled January 18th's daily gap.

If this resistance breaks, $0.08485 might offer the next significant resistance. Bears distributed here, at the midpoint of January 10th's daily gap, before pushing for bulls' stops under January 8th's and December 31st's swing lows.

Last article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Remember that all information presented here is a combination of third party data added to our personal opinion.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Rubikkav.

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