BTC, TIA, SHIB, VET, JASMY

On January 18, 2024, global market capitalization was $1.62 trillion, down 3.74% from the previous day. The overall market size increased by 6.22% to reach $59.7 billion, with the decentralized finance (DeFi) sector contributing significantly, totaling $5.03 billion, accounting for 8.42% of the total cryptocurrency market 24-hour trading volume. Stablecoins maintain their dominance with a trading volume of $54.84 billion, accounting for an impressive 91.87% share of the total cryptocurrency market volume in the last 24 hours.

In this dynamic environment, Bitcoin’s influence remains powerful. Dominance stands at 49.69%, implying a slight increase of 0.02% over the day. Exploring price analysis of individual cryptocurrencies such as Bitcoin (BTC), Celestia (TIA), Shiba Inu (SHIB), VeChain (VET), and JasmyCoin (JASMY), we weave in broader market dynamics to provide a comprehensive view. . Traders and investors in the ever-evolving cryptocurrency space.

Bitcoin (BTC) Price Analysis

In the last 24 hours, Bitcoin has fallen 4.19% and its current price is $40,844. The daily chart indicates a decline below the local support level of $41,344. If the daily bar closes significantly below this level, the price is likely to decline further and test the $40,700 region in the future.

On larger timescales, attention is focused on the mid-level of $40,500. A fall below this level would release accumulated selling pressure, potentially leading to a further decline towards the $39,000-$40,000 area in the near future. Short-term analysis shows that the daily bar has the potential to grow towards the $41,700 region if it strays significantly from the local support level of $41,300.

However, the medium-term outlook suggests caution, with an eye on the mid-level range of $41,000. A breach below this point could lead to a significant decline towards the $39,000-$40,000 area. Traders and investors should closely monitor these key support and resistance levels to get a clearer understanding of Bitcoin price movements over the coming days and weeks.

Celestia (TIA) Price Analysis

In the last 24 hours, Celestia is down 7.72% and its current price is $16.93. Leveraging today’s classic pivot point (P1) at $18.40, Celestia has support levels at $17.66, $17.16, and the highest level at $16.42. Accordingly, the resistance levels are $18.89, $19.63, and $20.12. This pivot point analysis provides key levels that traders can monitor in the short term.

Looking at the 1-day time frame, we see that Celestia is currently in a bearish trend, with the 50-day moving average appearing to be rising and below the current price. This moving average may act as support in its subsequent interaction with price, reinforcing bearish sentiment.

The Relative Strength Index (RSI) is currently below the 60 neutral zone, indicating a neutral trend where prices may remain this way for an extended period of time. However, caution is needed as bearish divergence was observed in the last 14 candles. This signals a weak signal that a price reversal from current levels is likely.

Shiba Inu (SHIB) price analysis

In the last 24 hours, Shiba Inu (SHIB) is down 4.97%, with the current price being $0.00000907. Currently, SHIB is moving within a range of support level $0.00000854 and resistance level $0.00001055. This sets the boundaries for short-term price movements.

The 10-day, 50-day, and 200-day exponential moving averages (EMA) are clustered around $0.00000976, $0.00000967, and $0.00000897, respectively. This suggests that the trading horizon is tight and consolidation is likely in the medium term. Traders should watch these levels closely for signs of a potential breakout or breakdown.

The relative strength index (RSI) of 40.42 is below the center line, indicating bearish momentum. If Shiba Inu’s trading volume, which recently broke out of the red zone, continues its upward trend and the token breaks above the resistance level of $0.00001055, it could signal strong bullish momentum.

VeChain (VET) Price Analysis

Over the last 24 hours, VeChain (VET) has decreased by 5.34%, bringing the current price to $0.02828. Over a 1-day period, VeChain is showing a bullish trend as the 50-day moving average is trending upward and is currently positioned above the VeChain price. This moving average may act as resistance in future interactions.

VeChain’s 200-day moving average has been trending upward since December 20, 2023, indicating a strong and ongoing trend. The fact that the 200-day moving average is currently below the price suggests that it could act as potential support to maintain the existing uptrend if price interacts with this moving average again.

The bullish trend is further supported by the rising 200-day moving average, highlighting the strength of the current trend. However, it is important to keep in mind that the 50-day moving average can act as resistance in the short term.

JasmyCoin (JASMY) Price Analysis

In the last 24 hours, JasmyCoin (JASMY) has decreased by 6.53% to the current price of $0.004931. A closer look at the 1-day time frame shows that it is leaning towards a bearish trajectory, indicating potential near-term difficulties. Despite the immediate decline, both the 50-day and 200-day moving averages remain in a bullish direction, highlighting optimism.

This duality of trend indicators implies a delicate balance and hints at a potential correction or consolidation in the near future. Traders should approach the current near-term downtrend with caution, especially considering potential resistance from the 50-day moving average. This key level requires careful monitoring as it can influence short-term price movements.

Zooming into a broader perspective, the rising 200-day moving average reveals a story of resilience and continued strength. This presents a strong medium-term outlook for JasmyCoin and instills confidence in the coin’s underlying market dynamics.