Crypto analysis for BTC, ETH, EGLD, FLOKI and SOL - December 5, 2024
Crypto market in the last 24h:
š Global Market Cap: $3.69T (+3.42%)
š 24h Total Volume: $359.04B (+23.13%)
š° DeFi Volume: $27.98B (7.79% of total volume)
š Stablecoin Volume: $327.41B (91.19% of total volume)
šµ Bitcoin Dominance: 54.89% (+1.45%)
Bitcoin (BTC) Analysis
BTC is showing bullish momentum after breaking out of a W pattern. A retest of the neckline at 99,403 USD is anticipated, from which a bounce could lead to potential targets at 101,859 USD and 104,988 USD.
Ethereum (ETH) Analysis
As highlighted in the previous analysis, it remains favorable to long ETH on dips. Currently, a potential retracement is expected toward the 3709 USD level, supported by the golden Fibonacci levels and the psychological round number of 3700 USD. This confluence increases the likelihood of a bounce, with potential targets at 3820 USD and 3929 USD.
MultiversX (EGLD) Analysis
EGLD has broken out of a resistive trendline and formed a W pattern, increasing the probability of a bullish move. However, confirmation is required through a breakout and candle closing above the resistance zone of 80.27 USD. If confirmed, potential targets could be 176.37 USD and 390.42 USD.
Floki (FLOKI) Analysis
FLOKI has formed a bull flag pattern, suggesting a higher probability of bullish continuation. Confirmation of this pattern requires a breakout and candle closing above the resistance zone of 25,230 USD. If validated, the potential targets are 27,897 USD and 30,816 USD.
Solana (SOL) Analysis
SOL has formed both a bull flag and a cup & handle pattern, signaling a higher probability of a bullish move. However, confirmation is needed through a breakout and candle closing above the resistance zone of 241.84 USD. If validated, the potential targets are 252.52 USD and 263.68 USD.
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