Ethereum, Tezos and Bitcoin – European Wrap 24 January

Polygon, the Ethereum scaling solution is competing with Arbitrum and other layer-2 protocol’s bridges, asserting its dominance in the ETH ecosystem. The Ethereum scaling solution is on track to witness a bullish breakout from a symmetrical triangle pattern according to technical analysis of the Polygon token MATIC’s price chart. 

 

Tezos (XTZ) price is seeing bulls hurrying up to cash in those last big profits as this rally is starting to flash warning signs. While global markets are getting unchained from what the US dollar is Doing, equity markets are rallying, with the S&P 500 breaking a crucial trend line that was the guide for the downtrend. With equities freed up now for more upside potential, cryptocurrencies are along for the ride, as the dislocation question between the markets and the central bank will soon get its answers from the US Federal Reserve as the first big central bank to make its appearance this year.

 

XTZ/USD daily chart

Jim Cramer, host of a popular financial news show “Mad Money” recently made comments on Bitcoin and Gold, sparking a debate in the crypto community. Cramer has received pushback from the crypto community in the past for his crypto recommendations, urging investors to shed their holdings right before Bitcoin’s massive bull run, fueling a narrative called “Inverse Cramer.”

Chart from DeCarley Trading