#CryptoMarketWatch

3 Cryptocurrencies to Watch in the Last Week of January

Downward pressure on LINK has eased. The negative MVRV and RSI divergence are holding above the $11.35 support level.

Whales in WLFI reduced their positions by 75%. The smart currency added 95% to its monthly accumulation.

Render selling pressure decreased around $2.03 as cryptocurrency exchange flows turned negative.

Chainlink (LINK)

Chainlink is one of the first made-in-USA coins to stand out this week. The LINK price has been going through tough times recently: it has fallen by approximately 7.5% in seven days and about 3.6% in the last 30 days. While the trend still seems weak at first glance, the underlying signals are starting to change.

Looking at the on-chain data, Chainlink is currently trading at a 30-day low MVRV. MVRV compares the current price to the average cost of traders.

When it turns negative, it indicates that most traders are at a loss, which historically reduces selling pressure and mitigates the risk of further decline. Clearly, the pressure from those looking to take short-term profits on LINK has decreased.

From late November to January 25th, Chainlink's price formed a new low, while its Relative Strength Index (RSI) formed an even higher low.

The RSI measures momentum, and this type of divergence is known as a bullish divergence. It typically occurs when downward pressure is beginning to lessen but the price hasn't yet reversed.

For this setup to strengthen, Chainlink needs to reclaim the $12.51 level. This level has repeatedly acted as both support and resistance in the past.

A daily close above this level would signal that the recovery is gaining momentum. Above that, a move towards the area near $14.39 could signal a full bullish reversal of the pattern and push the price towards $15.01.

The bullish scenario would weaken if the price were to close below $11.35 on the daily charts. Until then, LINK remains among the technically interesting made-in-USA coins ahead of February.

World Liberty Financial (WLFI)

World Liberty Financial is another made-in-USA coin that attracted attention this week, but for different reasons. The WLFI token has increased by approximately 12% in 30 days. However, looking at the on-chain data, a deep divergence is evident between large holders and faster-moving capital.

During the same period, whales reduced their WLFI positions by more than 75%, while smart money wallets increased their positions by approximately 95%.

Smart money generally represents more active and short-term traders. Whales, on the other hand, signal long-term commitment. When these two groups diverge like this, a volatile and fragile market often emerges instead of a clear trend.

WLFI is forming a head and shoulders pattern on the daily timeframe. However, sellers have the advantage due to the sloping, downward neckline. Therefore, if the support is broken, the risk of a decline increases significantly.

The token recently fell below the 20-day EMA (exponential moving average) and may now test the 50-day EMA level. Losing both EMAs has historically resulted in a correction of approximately 20%.

EMAs carry more weight from recent prices and react quickly to trend changes. These levels stand out as critical support and resistance zones.

If the WLFI price falls below the 50 EMA and then below the $0.136 level, the bearish structure will strengthen further, opening the door to a correction that could take the price down to $0.112.

On the other hand, regaining the $0.181 level could restore some confidence in the smart money thesis. Above $0.191, the bearish structure would become completely invalid.

This conflict makes WLFI one of the most volatile coins in the last week of January. We may see unexpected jumps, but stability remains scattered. The price can move sharply in either direction; it has the potential to flare up and die down just as quickly, like a straw fire.

Render (RENDER)

Render stands out among US-based coins with a chart that focuses more on market movements than investor sentiment. Despite a rise exceeding 50% in the last 30 days, it experienced a correction of approximately 4% in the last 24 hours. This has raised questions among some traders about whether the upward momentum has waned.

However, data from cryptocurrency exchange flows shows the opposite. At the end of December, Render recorded a high volume of inflows to exchanges, indicating increased selling pressure.

At that time, net inflows rose to around 469,000 tokens. As of January 26th, this figure has reversed, with approximately 9,800 net outflows. This change indicates that selling pressure has almost completely disappeared, replaced by an accumulation movement.

RENDER is currently experiencing price stagnation within a descending channel following a rapid 130% rally between December 19th and January 11th. While the channel remains firmly in place, the price is currently touching its upper boundary. A break above $2.03 would break the channel and shift the price towards an uptrend.

If this breakout occurs, the next targets would be $2.37 and $2.71. However, if the price fails to break above the channel, RENDER remains fragile in the short term, with a defensive line at $1.88.

A deeper sell-off would only occur if the price falls below $1.49, which is quite unlikely given the current level.