In this video we’re going to talk about ethereum, dropping after having a big rally but we’re starting to see dips getting bought on the daily. Is this the beginning of another move lower, or are we going to pump actually into efp1559? So, let’s get started? What is up welcome to the crypto funnel, where cover the hottest news in crypto, so includes the theorem analysis, bitcoin cardano, chain, link, coin beach and polka dot, and everything that you need to fomo into crypto. The right way so make sure to smash the like subscribe and turn on notifications to get the hottest was a crypto before everyone else hope.
You’Re enjoying your day, i’ve had a super busy day. Today, it’s literally like evening, i didn’t even leave the house or just working all day, just doing like crypto stuff like talking to projects looking at nfts looking at the market. It’S just been one of those days where, usually you finish work like pretty early, but then today everything’s just dragging, but i love it. I love all the innovation. That’S going right now in the space.
I love sharing everything with you guys and we got a lot of exciting projects today so make sure to stay tuned for that and watch until the end. Now ethereum is going sideways on the day, still up seven percent on the week bitcoins down six percent on the week. Cardano is up two and a half percent on the day and overall, the market is cooling off after the massive rally that we’ve seen right. So actually, if you look at it on the daily we started to see in those weeks, then we saw the drop, but then guess what we’re starting to see those drops those dips getting bought up on the daily as well so ethereum is actually holding this range. Pretty nicely we’re not seeing a big drop so far and also something very interesting is you’ll see that liquidity is actually sitting above for both bitcoin and ethereum.
So if you look at bitcoin right now, we have a lot of shorts that open on the move down from like 42 000, all the way right now to like 37 800. Something like that. So we have a lot of shorts that open and i think they will get tapped here so i’ll be careful with going short here, because that’s what a lot of people are doing and usually once you see that liquidity um, usually the price, will revert and we’ll Revisit it so likely bullish for that and then the same thing for ethereum. Actually, we had a lot of shorts that opened on the move down and right now we have liquidity like sitting around 25 50 2600. So i would not be surprised to see us going up from here, and the market sentiment right now is starting to become slightly fearful again.
People are thinking like oh, this is over. This was just a dead cat bounce we’re going to go a lot lower from here, and i understand i understand the fear um. I understand people panicking, but overall things are looking really bullish to me heading into ap1559 and i think people just simply did not factor the massive rally that we’re actually going to see so very bullish on that front. And overall, when you zoom out, like you’ll, see that ethereum had a very strong weekly candle over here and we had the biggest weekly close ever since we started kind of like dropping over here. So definitely leaning, bullish on this and ethereum is still pretty much.
Above all, the critical daily averages as well i mean you can see the 50-day, the 200-day moving averages. It’S above them, i think also above the 20 to 50 and the 100 averages as well. So it’s looking pretty good. You got to zoom out and see that we’re above all, those moving end beverages, the fundamentals, look fantastic and so on, and there’s your fomo right and then also another bullish thing for ethereum is that while bitcoin is dumping, ethereum is actually dumping a lot less and Ethereum’S been holding this range and if you look at ethereum versus bitcoin, you’ll see that it’s actually been pumping over here, while bitcoin was dumping, so when bitcoin dumps and ethereum still dumps less or pumps, this is really bullish. That’S a sign of strength!
Um! You know in times of challenges, they say so that means more like if bitcoin was pumping and ethereum was pumping more it’s not as strong as when you see bitcoin dumping and you theorem dumping less because it’s showing more strength like this and we had the classic Breakout from this, i think this is really important to keep in mind after we went over this accumulation period over here. For, like you know two years pretty much, it looks good man, it looks like we’re going to go to all-time highs and i think we’re going to be we’re going to flip bitcoin this year. I think ethereum’s going to be the biggest cryptocurrency by market cap this year, bitcoin on the weekly on the dailies. Again it’s bleeding over here we had a very nice rally, we’re pretty much roughly retraced at a third of that level, which is a totally normal retracement.
We did put a higher high, i mean it is worth noting we did went higher from here. So i think right now we’re going to put a higher low at some point – maybe bottom over here and then pretty much go higher from here, so definitely leaning, bullish on bitcoin as well. We had two months of massive fear, massive fear and right now, we’re here to reap the rewards exiting this accumulation. Ethereum on the lower time frame still looks good. I mean we’re still seeing green on the daily on the 12 hour, it’s kind of like a little bit choppy, but still way above the middle of the upper or middle of the boiling bands.
The move is still intact. When you look at ethereum versus bitcoin, we had just had to close outside of the bowling advance for btc. This is actually a very nice sign of strength and even the next day like you can see that we actually had a drop and it mostly got bought up back up by like the buyers right by like bulls i mean so. This is again strong. We had two reversal signs here on the daily we had like one bullish divergence.
I mean this is looking really bullish. This pair is looking very strong right now. It’S look like it’s poised for a strong breakout. We also had the bullish, yellow candle that we covered on this channel again at the bottom. If you’re not subscribed, make sure to subscribe, i think we’re just below 70 000 subscribers.
So if you want to help me get to 70k help, me quote: unquote make it then please make sure to hit the subscribe button. I’D appreciate it and then also when you look at bitcoin the lower time frames, it’s showing less strength, i mean you can see. We had your like profit taking candles, but we are close to support around the middle of the boeing bands. I wouldn’t be surprised if we’re gon na, like kind of drop to i’m just like 36k, before continuing higher from here, and then also the funding rates. Right now are actually um.
You know pretty neutral across exchanges, so not much to say about this one and then also next up. We have a very exciting idea coming up called cyrus foundation, which has been around for two and a half years now. This is not a new project, and this is launching on scale swap it’s gon na be its flagship. Ideo launch scale swap is a very legit strong, launchpad platform with a lot of really gt members. It’S been building left and right that we covered on this channel, and now they found a fantastic project in cyrus foundation, which empowers the ownership economy.
So what they’re doing is really cool? It’S looking to help you get more ownership of your data, so right now, if you’re using you know your your internet, you have all this data that you don’t get the ability to hold and it’s being sold, you’re not benefiting from it. So their mission is to accelerate the ownership economy by building the on-ramp for individuals to own manage and monetize their largest digital commodity. Their data so very big deal and the problem right now is that their lack of value capture, with limited abilities for users to monetize their data people are left with no financial returns from the world’s largest digital commodity and they’re. Looking to solve this by having cyrus right, so that’s basically their um device, it’s kind of like a replacement to your internet router.
It has 47 potence processing and the first of its kind hardware device designed to unlock data ownership, connect to the cryptoverse and create value. So they got a really impressive explanation on this on their website that you can check it out at cyrusfoundation.com at the core of the ecosystem. They got the cyrus token, they have the cyrus network, their business model and it’s actually a very good product and looking for kind of go after iot, the internet of things – and this is a really huge market cap and the market fit excuse me for crypto. So i think they’re on the right track and you can see that from the results they already have over 4 000 cyrus devices deployed to date.
This is a very big deal. This is not just someone with an idea. This is already being live right now at the market already testing things right now. The team have a lot of experience as entrepreneurs. You can see that the founders are actually co-founders of kubera technologies and it’s always good for me to see like successful entrepreneurs going and co-starting like successful ventures together.
It’S a really good sign that you know they like working together. They know how to work together. They already got results, so this is a really good thing to see and the team have a lot of experience outside of crypto space as well, which is really impressive, and they got some pretty strong partnerships and advisors that they will announce as soon. So if you guys are interested in participating in the ideo make sure to click the link below this video go to their twitter, follow them on twitter, join them on telegram and also follow scale swap to see details about how you can participate and all of that Good stuff so link below this video and then also something that i’m very excited about is that ap 1559 is coming live in around 23 hours from now things are looking very bullish. Man i mean this is an historical event and nothing less uh and possibly like a lot more also like this could be a very, very big deal and i’m excited to see when it goes live and i’m excited to see my bags pumping.
You know we work really hard uh, at least myself. I know about you, but uh, i’m really happy that i found ethereum and i found all this amazing ecosystem to support as an investor and to get rich in the process. You know super grateful for that and then also we got pentoshi saying ethereum low time frames update so far. It is looking like, if is getting ready to reclaim the higher range. So he has some very interesting analysis here about ethereum.
Let me find it for you. So basically he’s talking here about how ethereum uh okay, so he bought back ethereum at seven percent discount and ethereum has having like a bullish like support resistance retest here on the lower time frames at 2 500 bucks. Currently we are at 2500 bucks exactly right. So that’s what i’ve been saying like we had pretty much like the retest of this rare area. It’S flipping it into support and we’re not dumping as much so he thinks if we flip 25.
0 we’re going to continue higher and um and then otherwise he’s going to buy rebuy more at 20, low, 2400s and 23.25. If given like, let me tell if we drop to 2300, i think it’s going to be a fantastic buying opportunity, but i think there’s so many people on the sidelines right now. I’M not sure it will happen. There’S been a lot of salt in the market.
A lot of people sold a lot of people are wanting to buy, and that’s why we saw ethereum go up for 13 days in a row i mean it was just non-stop up movement right, so a lot of people were buying to fuel the deep to fuel. This rally to continue to have it continue going up and also when you look at the mac review is saying that it simply unperforms bitcoin. In his opinion, we broke out of uh versus bitcoin on this massive flag over here, and also that um yeah. You can see here we have this like pattern, house forget its name kind of like the the extending megaphone or something, and we broke out of that. We flipped that into support as well, and it is bullish and then also next up.
We got port finance with some updates. Their white list is still open for their up and coming ido for another 24 hours roughly on selenium. So port finance is a very exciting project. They already have a live mainnet. So again their product is live.
I love seeing projects that launch their product really early. You know they’re not only about talk, they’re, also walking, they walk, and you can see that because their product is already live, that they’re delivering and it’s the first non-custodial liquidity protocol on solana. It’S a learning protocol aiming to provide an entire suite of fixed income products, including variable rate lending, fixed rate lending and interest rate swaps. We have a nice website for that. We got some very strong support as well rare store capital, mercurial finance and jump capital.
Selenium and radium i mean those are very legit, i’m pretty sure. Also i’ve seen rare stone capitalists, some very successful investors in some early project that i was looking at as well. So they have a really good track record too, and you can check them out on their mainnet.port Finance you can see current market size is just below half a million dollars. It’S been going really quickly as well, and you can see here that the team have background from facebook, google, microsoft.
They contributed to open source code for serum and solana, so they’re experiencing crypto and, of course, they’re very experienced and accomplished outside of crypto, so very excited about this, so make sure to check it out. It is actually launching soon i’m going to link below to it. On selenium, so they got here the details about all of that, so the white list – lottery results are going to be tomorrow and also the distribution is going to be august, 9th, so pretty excited about this one going live and yeah. It’S amazing seeing how fast the ecosystem is being built. They already have partnership with league protocol as well, so they’ve been continuing to build non-stop and it’s looking great man and then pentoshi is saying that bitcoin is still waiting for mid 30, 000 or reclaim with 40 600 progressively nicely test far.
We also have to take a look at the 200-day ema, re-test and loss that took place so pretty much we got resisted or we got rejected from the 200-day ema, which is also a little bit. You know showing that we might drop a little bit more and he’s waiting for around 35k, which kind of makes sense to me as well like that was roughly the levels. I would look at too. If i was trading this range right, you pretty much would wait to see a retest of maybe somewhere around. This range pretty much like the middle of the range right.
So you have here the top of the range you have the bottom and then roughly around the middle. We kind of make sense to put like a higher low and then continue higher right. If we do get the opportunity honestly, i’m really 50 50. If we get this opportunity, i mean we did have some pretty nice drop work fairly quickly, and i think that it’s worth keeping in mind that also ep 1559 will probably drag the market up as well. So this is um bullish for bitcoin, because if ethereum’s gon na pump bitcoin it’s gon na pump as well.
So i think the picas ethereum is looking really strong. I also keep that in mind for bitcoin that we might not see a big retracement on that and then also game. Starter, shu and dao maker is currently live. Your native token game is publicly available to receive the round of shu and it has equitable token distribution. Private and public sale participants at the same vesting conditions and purchase price, so it is free for everyone and congrats the game story, the new standard for indie game fundraising.
So they have a really cool model for allowing individual. You know, like indie game developers, to basically fund their games by selling uh nfts from the game and crowdfunding there. You know so. Basically, it’s an nft based crowd, funding, platform and marketplace as they say, and they got some pretty strong project as well involved with this. So i’m really excited to see them lunch and just honestly man we’ve seen down maker, they have a fantastic process for investing in projects, promoting them, helping them launch and then also selecting the right projects vetting them.
So the fact that they are launching game story tells me that this is a really big deal and they’ve just been uh, crushing it and also like this is something that we really need. We really need another way for indie game developers to raise capital and launch more awesome games and, of course, you could apply that to a lot of things right now. It’S gaming and the future could be like meta versus right. You could launch your own metaverse and sell nfts from inside that verse, like you, can do a bunch of really really exciting things. So i’m excited to see this go live and i’m going to link to it below this video as well, and then also we got ethereum uh from reddit saying when ethereum is fully upgraded to proof of stake consensus, it will lead to a large drop in the Ethereum issuance to roughly 0.
annually, this issuance rate of 90 is equivalent to three bitcoin all things. Hence the triple halving theory for ethereum and then also. I got a question from someone asking me there. If ethereum uh, how will ethereum pump or uh or how will ethereum continue going up, given the fact that it doesn’t have like a cap on its market cap right for bitcoin, it’s fixed 21 million btc supply ethereum has no fixed supply. How will, if continue to grow, despite this, and my answer to this – is that, in short, it doesn’t matter at the end of the day, the price of an asset will go up if demand is bigger than supply.
So as long as ethereum’s going to have more and more demand in the supply, the price will continue going up and up and up so it’s pretty simple and just because bitcoin has a fixed supply, doesn’t mean that every cryptocurrency needs to have a fixed supply and Also another in another thing is just if you think about it, ethereum specifically in this case, even if you were to use that argument, which is incorrect, ethereum inflation is going to become negative. Once we have the burning for mp4559 the merge, so the supply is actually going to drop every day, so the max supply is actually going to drop. So for bitcoin the max supply is going to be 21 million. But if you use that example, so if bitcoin was using the same mechanism as ethereum, the supply could be 21 million, then 20 and a half million and then 20 million and then 19 million and 80 ml. So it would keep dropping and dropping.
So that would be the case for ethereum, and this is really bullish, and i mean just look at this chart. You see this. This is the chart that shows you how much money you’re going to make honestly man really bullish. You can just see how the inflation is dropping year by year like this, with the difficulty bombs for ethereum all the improvements that they had: byzantium, constantinople, uh, glacier, and now we have the ethereum phase, two coming up so really big deal and you can see how, Over the last seven years ever since ethereum launched um, you can see or well the maintenance live for six years ever since the main that went live six years ago, they’ve been very, very systematic, with cutting down the inflation as much as possible and look at this Beautiful drop in the inflation it’s gon na drop from four percent to zero point. Four percent in one go just like this, so really bullish on this, and can you imagine i mean we?
We just never had anything like this. I mean triple holding for bitcoin. That would have been insane so having a trip and holding for ethereum is a really big deal and then also we got creator announcing their ido, so this is pretty cool. Their ideo is going to launch on ignition pad and it will take place on september 8th. This is a very legit project as well, and they have a fixed location of 31 and a half ctr tokens to purchase and all of that, and also they got from advisor, they got kyle chase founder and ceo of master ventures.
I got harry huang, founder and cmo of vmo holdings and we also got the founder and ceo of nebu adventures as well, so they have some really cool model, allowing you to use blockchain as a service. So that’s their platform. Creator provides no quotes. Smart contract, low code, app and other services to empower the nft economy, making it easier for people to launch projects right now on in crypto right. So, basically, if you think about like wordpress, is allowing you to use products like use, the website use the internet easier to launch websites and blogs easier in an easier manner right.
So this is what creator chain is looking to do with crypto, which is really necessary, because, right now it’s very difficult to work in crypto. You got to be real tax savvy, so that’s it for this video hope you guys enjoyed that much love. Thank you. So much for watching liking, subscribing turn on bell notifications, sharing this video friend and until next time, don’t format too fast.