The Delphi Chartbook - August 2021

This month’s chartbook covers some of the most salient trends in crypto while highlighting several of the top charts from August’s slate of reports and Daily’s. We kick things off with a look at the current state of the market, most notably BTC and ETH, before examining the evolution of market structure, the impact of EIP-1559, and the wild month in NFTs. We hope you enjoy!

Key Technicals

Bitcoin has been flirting with $50k for over a week, but the world’s largest crypto asset has been met with serious resistance following its best 30-day performance since February. One of the key levels we’re still watching is ~$51,100, which marks the 61.8% Fibonacci retracement level, a key area of short-term resistance.