Crypto analysis for BTC, ETH, BNB, APE and DOT - December 2, 2024
Crypto market in the last 24h:
š Global market cap: $3.37T (-1.57%)
š 24h total volume: $209B (+44.37%)
š° DeFi volume: $14.16B (6.78% of total volume)
š Stablecoin volume: $186.36B (89.17% of total volume)
šµ Bitcoin dominance: 55.80% (-0.27%)
Bitcoin (BTC) Analysis
BTC is currently consolidating and has formed an ascending channel within this range, increasing the probability of a bearish move. However, due to the broader consolidation, the price could move in either direction. A breakdown and candle closing below the support zone at 94,810 USD would signal a bearish move, with potential targets at 93,894 USD and 92,970 USD.
Conversely, a breakout and candle closing above the resistance zone at 98,869 USD would confirm a bullish move, with possible targets at 100,506 USD and 101,829 USD.
Ethereum (ETH) Analysis
ETH is showing strong bullish momentum as the money flow from BTC shifts towards ETH and altcoins, enhancing its bullish outlook. It is advisable to consider long positions at support levels or in bullish order blocks (OB). If the price approaches the 200 EMA and the bullish OB zone near 3,544 USD, a bounce is expected, with potential targets at 3,599 USD and 3,658 USD. Should this zone trigger a sharp upside move, holding the position while securing it with a stop-loss at breakeven (BE) is recommended for safety.
Binance Coin (BNB) Analysis
BNB has formed a head and shoulders pattern, indicating an increased probability of a bearish move. Confirmation requires a breakdown and candle closing below the support zone at 643.1 USD, which could lead to potential targets at 633.0 USD and 624.4 USD.
ApeCoin (APE) Analysis
APE looks promising on higher timeframes as it approaches a breakout of the resistive trendline and the resistance zone at 1.76 USD, supported by the formation of a cup and handle pattern. This setup increases the probability of a bullish reversal. Confirmation requires a breakout and candle closing above 1.76 USD, potentially targeting 2.66 USD and 4.14 USD.
Polkadot (DOT) Analysis
DOT is approaching a critical resistance zone, having formed a W pattern that signals a potential bullish move. A breakout and candle closing above the resistance zone at 11.99 USD would validate the pattern, increasing the probability of a bullish continuation with potential targets at 23.00 USD and 48.00 USD.
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