Altcoins That Have Tasty Entries

Technically Speaking - January 24, 2024

Algorand

The dumpster fire that has been Algorand is finally showing some signs of support. Despite the drop below the Kijun-Sen, it’s still inside the Ichimoku Cloud, and it presents a relatively low-risk entry point right at the $0.16 value area.

For those looking to play it safe, waiting for a weekly close at or above the Tenkan-sen at $0.191 is an option. And for those with no balls and need mommy and daddy to ensure there’s no monster under the bed, you might want to wait until there’s a close above the Cloud, at or above $0.274.

The hidden bullish divergence between price and the Composite Index gives bulls a good reason to be optimistic in the weeks ahead.

Dogecoin

The world’s first major shitcoin, DOGE, has a daily chart that looks very nice for a potential entry.

However, the entry will be the mommy/daddy check under the bed option. In other words, bulls are likely waiting for an Ideal Bullish Ichimoku Breakout before entering. Long story short, a daily close at $0.0948 would fulfill all the requirements for the Ideal Bullish Ichimoku Breakout while ensuring the Chikou Span is also in open space.

TRON

Want to know something crazy? TRON is one of the best-performing cryptos of the past two-ish years. The current uptrend has lasted for a mindblowing fifteen months.

Yes, the crypto founded by this toolbag is one of the best performers in the space.

Bulls are likely eyeing the following conditions before entering:

1. The Composite Index crosses and closes above its moving averages.

2. The Detrended Price Oscillator crosses and closes above the zero line.

3. The daily candle closing above the Tenkan-Sen and the Kijun-Sen.

Ethereum

Point & Figure charts make everything so much clearer and less complicated.

The pattern on ETH’s $20/3-box reversal chart is a Spike Pattern. According to the theory, the entries are at the 3-box reversal, currently at $2,260. However, Spike Patterns are the definition of volatility and woe to those who are greedy.

Dats A Lot O Gas

Gas Hero, the latest brainchild of Find Satoshi Lab, is making waves in the NFT world, raking in a cool $90 million in trades. 💵

With six NFT collections topping the charts, it's the new hot spot for trading characters, weapons, and more on Polygon. Gas Hero Common Heroes is already the fifth most-traded collection, proving its mettle.

Find Satoshi Lab, the mastermind behind the hit app Stepn, is now wooing gamers with Gas Hero, offering a whopping 14 million GMT tokens for PvP battle winners. With over 10,000 active users and no download needed, Gas Hero is the new playground for web3 gamers. 🕹️

Suck It Again Cardano Haterz

Cardano's smart contracts are on a growth spree, giving Ethereum a run for its money. 🏃

With a whopping 24,050 contracts, it's a 67% jump since the start of the year, thanks to the platform's 2023 development frenzy. The Plutus Core language is the secret sauce, bridging smart contracts with Cardano's settlement layer.

Input Output Global's data shows a bustling Cardano town with 157 launched projects and 1,319 in the works. With recent releases like Marlowe and Hydra, plus a wallet upgrade, Cardano's not just growing; it's evolving at warp speed. 🏎️

HashKey and FTSE Russell: Making Crypto Indices Cool Again

HashKey Capital and FTSE Russell are shaking up the crypto world with their snazzy new indices, tailor-made for savvy investors. 🧠

The FTSE Custom Digital Asset Top 20 index is like the VIP list of crypto, tracking the big shots of the digital asset world. For the tech-savvy, the FTSE Custom Digital Asset Infrastructure Index gives a sneak peek into the nuts and bolts of the crypto sector.

And for the niche lovers, the FTSE Custom Digital Asset Application Index zeroes in on cryptos with unique uses. Deng Chao of HashKey Capital is buzzing about meeting investor demand for diverse crypto portfolios. Launching on January 24th, these indices are the new must-haves for anyone diving into the crypto market. 🏊‍♀️

Florida to Crypto Investors: 'Come for the Sun, Stay for the Tax Breaks'

Florida is the crypto tax haven of the U.S., ditching state income tax and embracing crypto-friendly vibes. ☀️

Meanwhile, New York's playing the grumpy landlord with a hefty 10.9% income tax and the infamous BitLicense. CoinLedger's data crowns Florida as the crypto tax king, thanks to its sunny policies like letting businesses pay state fees in crypto.

Texas and Wyoming are hot on Florida's heels, also ditching state income tax and cozying up to crypto. Nevada and Arizona join the party, with Nevada banning local blockchain taxes and Arizona keeping it chill with a flat 2.5% tax on crypto income. 🕶️

Shots Of The Day

🎮 Doom on Dogecoin: A '90s Classic Enters the Crypto Arena: In a nostalgic twist, the legendary '90s video game Doom has been inscribed on the Dogecoin blockchain. Thanks to the Ordinals technology, developers can now store large data amounts on the blockchain, bringing utility to Dogecoin beyond its meme token status. Developer @minidogeart celebrated the game's 30th anniversary by embedding this shareware version, complete with nine levels, into the Dogecoin network.

💬 Cathie Wood Remains a Staunch Bitcoin Believer: Ark Invest's Cathie Wood isn't swayed by Bitcoin's recent sell-off. In a CNBC interview, she emphasized Bitcoin's importance in shaping a global, rules-based monetary system. With Bitcoin now wrapped in an ETF, Wood sees it as an accessible, low-cost investment. Despite the sell-off, partly fueled by FTX's GBTC sell-off, she remains bullish, calling Bitcoin the "biggest of all crypto ideas" and setting high price targets for 2030.

🔐 Brink's Dives Into Crypto with BitGo Partnership: The Brink's Company, known for its secure cash transport services, has strategically invested in crypto custody firm BitGo. This partnership will see Brink's become BitGo's global provider for secure logistics and vaulting. This move not only diversifies Brink's services but also strengthens BitGo's position in digital asset security. BitGo, valued at $1.75 billion, continues to expand its global footprint with over 1,500 clients in 50 countries.

🐂 Uphold’s Top Researcher Predicts Major Crypto Bull Market: Dr. Martin Hiesboeck, Head of Research at Uphold, has declared the start of the largest crypto bull market in history, beginning January 24. While the identification of market cycles can be challenging in shorter time frames, the recent surge in crypto market capitalization, now at $1.51 trillion, suggests a notable shift. This forecast, however, comes with a reminder of the inherent volatility and unpredictability of risk-asset markets.