Crypto analysis for BTC, ETH, EGLD, AAVE and SOL - May 19, 2025
Crypto market in the last 24h:
š Global Market Cap: $3.24T (-1.89%)
š 24h Volume: $151.74B (+82.56%)
š° DeFi Volume: $35.16B (23.16% of total volume)
š Stablecoins Volume: $143.64B (94.66% of total volume)
šµ Bitcoin Dominance: 62.9% (-0.06%)
Bitcoin (BTC) Analysis
BTC is showing clear signs of a buyer trap and has formed a triple top pattern along with bearish divergence. These two signals increase the probability of a bearish move.
However, for confirmation, we need a breakdown and candle closing below the support zone of 100,628 USD. If that level breaks, the next potential targets are around 98,094 USD and 95,880 USD, based on the measured move of the pattern and previous support zones.
Ethereum (ETH) Analysis
ETH has broken down from an ascending channel and has also formed a head and shoulders pattern, accompanied by bearish divergence. This combination of technical signals significantly increases the probability of a bearish move. The breakdown from the ascending channel indicates a loss of bullish momentum, and the head and shoulders is a classic reversal pattern, especially when supported by weakening momentum through bearish divergence.
To confirm the bearish scenario, we need to see a breakdown and a strong candle closing below the key support at 2,410 USD. If this happens, it validates the pattern and opens the way for further downside. The first level to watch is around 2,204 USD as intermediate support. If the selling continues, the next target is near 2,034 USD, in line with deeper support from previous price structure.
MultiversX (EGLD) Analysis
EGLD has formed a falling wedge pattern, which increases the probability of a bullish move. For confirmation, we need a breakout and candle closing above the resistance zone at 19.72 USD. If that happens, the next targets would be 20.70 USD and 21.98 USD.
Aave (AAVE) Analysis
AAVE has formed an ascending channel with bearish divergence, which increases the likelihood of a bearish move. Confirmation requires a breakdown and candle closing below the 210.50 USD support level. If that occurs, we can expect downside targets of 192.81 USD and 179.09 USD. The ascending channel often signals a potential trend reversal when it forms after a bullish move, especially with weakening momentum.
Solana (SOL) Analysis
SOL has formed a head and shoulders pattern with bearish divergence, which increases the probability of a bearish move. For confirmation, we need a breakdown and candle closing below the support at 161.53 USD. If that level breaks, it could lead to a drop toward 153.41 USD and 146.06 USD. The head and shoulders is a well-known reversal structure that typically signals a shift from bullish to bearish momentum.
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