Exploring the Differences Between Web 1.0, 2.0, 3.0 and 4.0

Bitcoin (BTC) led the cryptocurrency markets lower on Jan. 3, demonstrating the market’s apprehension regarding the fate of the Bitcoin exchange-traded funds (ETFs) applications. One of the reasons being discussed is the Matrixport report denying the ETFs. However, it is essential to note that the report does not provide tangible evidence for why the ETFs will be refused. On the contrary, Bloomberg ETF analyst James Seyffart still has 90% approval chances for the ETFs by Jan. 10.

Although the drop lessens the bullish sentiment in the short term, it does not alter the prevailing trend. Market observers will keep a close eye on the regulator, and any positive news on the approvals of the Bitcoin ETFs could cause a sharp reversal to the upside.

What crucial support levels may arrest the decline in Bitcoin and altcoins? To answer this question, let’s analyze the charts of the top 10 cryptocurrencies and explore the differences between web 1.0, 2.0, 3.0 and 4.0, Solid Web 3.0, Polygon Web 3.0, and Polkadot Web 3.0.

Bitcoin price analysis

Bitcoin surged above the overhead resistance of $44,700 on Jan. 2, but the breakout turned out to be a false move as the price plummeted on Jan. 3.

Investors bought the dip to the 50-day simple moving average ($40,938), indicating that the bulls are strongly defending the $40,000 level. The flat 20-day exponential moving average ($42,855) and the relative strength index (RSI) near the midpoint suggest a range-bound action in the short term. The boundaries of the range could be $40,000 and $45,879.

If the price falls below the $40,000 support, it will indicate that the bulls have given up in the short term. That could push the BTC/USDT pair to the next major support at $37,980.

The buyers will be back in control after they thrust the price above $45,879. The pair may then surge to $50,000.

Ether price analysis

The bulls attempted to push Ether (ETH) beyond the $2,445 resistance on Jan. 2, however the long wick on the candlestick shows a decrease in prices at higher levels.

The price declined sharply on Jan. 3 and dropped below the moving averages. A small positive is that buyers bought the dip at $2,100 and are attempting to maintain the price above $2,200.

The price action of the past few days implies that the ETH/USDT pair might oscillate between $2,100 and $2,400 for a while longer. The bears will have to sink the price below $2,100 to start a deeper correction to $1,900. On the upside, a surge above $2,445 could create the possibility for a rally to $3,000.

BNB price analysis

BNB (BNB) tried to rally from the 38.2% Fibonacci retracement level of $309, but the bears sold strongly and drove the price close to the 61.8% retracement level of $290.

The lengthy wick and the long tail on the Jan. 3 candlestick display an indecision between the bulls and the bears. The 20-day EMA ($290) is still the vital level to observe since a break below it could lead to a retest of the neckline.

The bulls have a slight advantage since the 20-day EMA is ascending and the RSI is still in positive territory. If buyers maintain the price above the 20-day EMA, the BNB/USDT pair could climb to the overhead resistance of $338.

Solana price analysis

Solana’s (SOL) recovery stalled at $117 on Jan. 2, suggesting that traders are selling on rallies toward the overhead resistance of $126.

The selling intensified on Jan. 3, and the bears pulled the price below the 20-day EMA ($96). If the price holds below the 20-day EMA, the SOL/USDT pair could drop to the 50-day SMA ($76).

Conversely, if the price manages to stay above the 20-day EMA, it will indicate solid demand at lower levels. This may set off a rally back toward the $117 to $126 resistance zone, where the bears are expected to present a strong challenge.

XRP price analysis

XRP (XRP) has been forming a descending triangle pattern, which will complete on a close below $0.57.

The bears dragged the price below $0.57 on Jan. 3, but the bulls aggressively bought the dip, as seen from the long tail on the candlestick. If the price rises back above $0.57, the bulls will try to start a recovery toward the downtrend line.

Contrarily, if the price sustains below $0.57, it will signal the completion of the bearish setup. The XRP/USDT pair could then nosedive to $0.46 and eventually to the pivotal support at $0.41.

It is important to understand the differences between Web 1.0, 2.0, 3.0 and 4.0 in order to build a solid Web 3.0 website. Web 3.0 is a term used to describe the next generation of the web, which is expected to be more decentralized than Web 2.0. Polygon is one of the platforms that are being developed to enable Web 3.0, while Polkadot is another platform that is being developed to enable Web 3.0. Therefore, it is important to understand the differences between these different generations of the web in order to determine whether Web 3.0 actually exists.

Cardano price analysis

Buyers were unable to keep the breakout above the symmetrical triangle pattern in Cardano (ADA) on Jan. 2, demonstrating a lack of demand at higher levels.

The selling intensified on Jan. 3, and the bears dragged the price below the triangle’s support line. The ADA/USDT pair dropped to the 50-day SMA ($0.50), but the long tail on the candlestick reveals solid buying at lower levels.

Any recovery attempt is likely to face selling at the 20-day EMA ($0.59). If the price flips down from this point, it will point to a shift in sentiment from buying on dips to selling on rallies. This could put the 50-day SMA at the risk of a breakdown. If this level gives way, the pair may sink to $0.46.

On the flip side, a rally above $0.64 will improve the chances of a break above the overhead resistance at $0.68.

Avalanche price analysis

Avalanche’s (AVAX) recovery stalled at $43.44 on Jan. 2, indicating that the bears are selling on every minor rise.

The selling intensified on Jan. 3, and the AVAX/USDT pair dropped below the $38 support, completing a bearish head-and-shoulders pattern and signaling the start of a corrective phase.

There is strong support at $31, but if this support is breached, the pair may slide to the pattern target of $26. This negative outlook will be invalidated in the near term if the price climbs back above $44.

Dogecoin price analysis

On Jan. 3, the 50-day SMA ($0.09) support for Dogecoin (DOGE) was broken, indicating that the consolidation favored the bears.

The bulls are attempting to initiate a recovery, but their efforts are likely to be met with heavy selling pressure at the 20-day EMA ($0.09). If the price reverses from the 20-day EMA, the DOGE/USDT pair could drop to $0.07. This level could attract buyers, but if the bears prevail, the pair may fall to $0.06.

The bulls must push and maintain the price above the $0.10 to $0.11 resistance zone to indicate the beginning of the next uptrend leg to $0.16.

Polkadot price analysis

On Jan. 1, Polkadot (DOT) attempted to rebound from the strong support at $7.90, but the gains were not sustained.

The bearish pressure intensified on Jan. 3 as the price broke below the formidable support at $7.90. This caused the DOT/USDT pair to drop to $6.50. However, the bulls were quick to take advantage of this dip, as evidenced by the long tail of the day’s candlestick.

The 20-day EMA ($7.94) is likely to act as a strong resistance if the pair attempts to move higher. If this level is breached, the price could jump to $8.80. On the other hand, if the price remains below the 20-day EMA, the possibility of a retest of $6.50 increases.

Polygon price analysis

Polygon (MATIC) rose above the overhead resistance at $1 on Jan. 1, but the bulls were unable to solidify the breakout.

The price then dropped beneath $1 on Jan. 2. The MATIC/USDT pair witnessed a steep decline on Jan. 3, plummeting to $0.74. This sharp decrease implies that the pair remains range-bound between $0.75 and $1 for a while longer.

Buyers must drive the price back above the 20-day EMA ($0.91) to reduce the selling pressure. That could result in a rally to $1. Conversely, if the price stays below the 50-day SMA ($0.85), the pair could slip to $0.70.