Episode Summary:

Bitcoin and Ethereum may not be looking so great but these 3 coins started 2022 really well.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

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Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Episode Summary:

Today On the Crypto Breakdown, host Joe Dewitt looks at the two of the most popular coins HARMONY vs AVALANCHE.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody, happy Tuesday. My name is Joe Dewitt, and this is the crypto breakdown today. I'm going to talk about some coins that have been performing well in the new year.

As well as talking a bit about Bitcoin and Ethereum, taking a look over at Bitcoin and prices up to a percent today and to the daily chart here does look like we could form a reversal price has been struggling to fall below the current support level we are at about 41,000. And this is a very strong support level for us.

Everyone. We hit that as a resistance level back in August, broke above and use it as support a few months later. And now we are revisiting. The support level, which is going to be crucial for the next few weeks of Bitcoin. Now, if price fall below this level, now, if pricing gained momentum to get back above this 4,400 and clear away from the support level, that would be a great sign for Bitcoin.

Although on the alternative side, forming a lower lows would be pretty bad as it would signify a downtrend. So keep a close eye on Bitcoin. As the next few weeks are going to be a very strong determining factor. Now, taking a look over at a theorem, Ethereum is up just about 3% today. And prices also formed some consolidation here as it looks like it struggles to.

A bit further now with Ethereum, the RSI, which is the relative strength index is quite low sitting at about 28%, meaning that Ethereum is quite oversold here. Now, this indication could usually signal a buy-up, which would mean a short squeeze and price. Now the crucial level for Ethereum being 3,100, this is a key point because we've used it similar to the one I was talking about with Bitcoin.

Resistance, flipped support, and now being used again, as support. So falling below this level would also indicate lower lows and could signify a downtrend. Although if we do get a little bit of buying pressure here, that would be a great sign for Ethereum as it would keep its higher lows best case here would be some buying pressure to get priced back above that 200 day moving average.

Using that 200 day moving average as support would be ideal to eventually move back up towards that 50 day and get that golden cross. Ethereum may have a bit of climbing to do, but it's definitely not out of the picture. And for some top gainers of the new year so far, we've got Zika. Luna and chain link Z cash rose about six and a half percent.

Luna got up six and a half percent. And Shane linking up almost 10% since the new year and shame link climbing from $19 to $28. Since the new year has probably been the best gainer that I have seen so far as most cryptos are struggling in this time. As it gets really hesitant for Bitcoin and Ethereum chain.

Definitely been performing very well. So definitely worth mentioning and keeping an eye on chain link. That's all the time we have for today. Guys. Thank you so much for tuning in can fall and subscribe to our podcasts, which will all be in the description below. Have a great day

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