Crypto analysis for BTC, ETH, EGLD, APE and DOGE - January 13, 2024
Crypto market in the last 24h:
🌐 Global market cap: $3.23T (-2.41%)
📊 Total volume 24h: $90.5B (+29.52%)
💰 DeFi volume: $6.58B (7.27% of total volume)
🔒 Stablecoins volume: $83.21B (91.94% of total volume)
💵 Bitcoin dominance: 57.12% (+0.61%)
Bitcoin (BTC) Analysis
BTC is currently in consolidation, presenting opportunities for both bullish and bearish scenarios. If the price breaks down and closes a candle below the support zone of 92,819 USD, it will increase the probability of a bearish move due to the formation of an M pattern, with potential targets at 91,189 USD and 89,667 USD.
On the bullish side, a breakout and candle closing above the resistance zone of 95,828 USD would confirm a W pattern, setting targets at 98,026 USD and 100,115 USD.
Ethereum (ETH) Analysis
ETH is showing bearish potential due to a bear flag pattern, which increases the likelihood of a downward move. For confirmation, a breakdown and candle closing below the support zone of 3,160 USD is needed, potentially leading to targets of 3,078 USD and 2,999 USD.
MultiversX (EGLD) Analysis
EGLD indicates the possibility of another leg down, supported by Elliott wave theory and the formation of an inverse cup & handle pattern, which increases the probability of a bearish move. Confirmation requires a breakdown and candle closing below the support zone of 29.62 USD, potentially targeting 26.48 USD and 23.79 USD.
ApeCoin (APE) Analysis
APE has trapped sellers and formed a head and shoulders pattern, increasing the probability of a bearish move. Confirmation depends on a breakdown and candle closing below the support zone of 0.99617759 USD, which could lead to targets at 0.82745668 USD and 0.69971390 USD.
Dogecoin (DOGE) Analysis
DOGE is displaying a bear flag pattern with a head and shoulders structure within it, amplifying the likelihood of a bearish move. Confirmation requires a breakdown and candle closing below the support zone of 0.3019 USD, potentially leading to targets of 0.2800 USD and 0.2610 USD.
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The information in this report was obtained from public sources and is considered relevant and reliable within the limits of publicly available data. However, the value of the digital assets referred to in this report fluctuates over time, and past performance does not indicate future growth.