#BTC (two-hour timeframe). Bitcoin continues to move sideways below the resistance trendline. At the same time, the On-Balance Volume indicator values are held above the Exponential Moving Average (EMA) 21. This means that from the current level, another attempt to reach the Point of Control (POC) level at $42,800 can be expected. Depending on how successful buyers are in holding the asset above the lower boundary of the Ichimoku Cloud, two scenarios are possible.
In the first case, bullish pressure will be sufficient to keep Bitcoin above the $42,000 trading level. This will give the instrument another chance to overcome resistance around $42,800, leading to further upward movement. The second scenario will unfold if sellers manage to push the price below the lower boundary of the Ichimoku Cloud at $41,600. This would signal a continuation of the asset’s correction and lead to a price drop to around $39,500. Here, bull activation is expected, leading to a recovery of Bitcoin to the $45,000 – $46,000 resistance range.
#ETH. The asset is still gathering strength below the $2,500 trading level. A breakthrough above this zone would allow Ethereum to test the next seller block in the $2,565 – $2,600 range.
Total locked value in DeFi protocols has increased by $3.5 billion since the beginning of the year, reaching $57.4 billion
The liquid staking platform Lido Finance remains the leader with a volume of $23.18 billion. Maker holds the second and third positions in the ranking with $8.4 billion and AAVE with $7.2 billion, respectively. The total value of assets locked in Ethereum applications has grown to $32.9 billion.
Over the last 30 days, decentralized exchange (DEX) trading volume has reached $94.6 billion. Uniswap continues to hold the leading position among non-custodial exchanges, accounting for 55.4% of the total turnover. PancakeSwap takes second place with 18.5%, and Curve is third with 8.2%.
The increase in the total locked value in DeFi protocols since the beginning of the year indicates a continued interest in decentralized financial solutions. The trading volume on DEX in the last 30 days reflects high activity and popularity of decentralized exchanges among cryptocurrency traders. The leadership of Lido Finance in the liquid staking sphere signals user trust in this asset management model, emphasizing the importance of providing high liquidity and security for DeFi products.
Alts: The announcement of the listing on January 24 of the Meme AI Coin (#MEMEAI) on the BitMart exchange increased the value of #MEMEAI by 50% (against #USDT).
The launch of the first liquidity provider tokens on the Bitcoin network with the Ordiswap protocol (#ORDS) caused a 30% increase in #ORDS against #USDT.
The addition of cross-chain support with seven blockchain networks by the StrikeX project’s wallet (#STRX) led to a 16% increase in #STRX against #USDT.
Cryptocurrency market capitalization has increased by 0.3% in the last 24 hours, while Bitcoin’s dominance has decreased by 0.15%. In the near future, I expect an upward impulse in #BTC towards $42,800. If, on the pullback, Bitcoin holds above the $42,000 trading level, this will negate the scenario of updating the local minimum.