Crypto analysis for BTC, ETH, EGLD, AVAX and BNB - April 24, 2025
Crypto market in the last 24h:
📉 Total crypto market capitalization: 2.91T USD (⬇️ 0.37%)
🔁 Total 24h volume: 97.53B USD (⬇️ 29.46%)
💧 24h DeFi volume: 6.53B USD (6.70% of total)
💵 24h stablecoin volume: 91.55B USD (93.86% of total)
🟠 Bitcoin dominance: 63.44% (⬆️ 0.18%)
Bitcoin (BTC) analysis
BTCUSD has formed an M pattern, which is a classic bearish reversal structure. This increases the probability of a downward move, especially considering the current market structure.
For confirmation, we need a breakdown and candle close below the support zone of 90,926 USD (~85,167 EUR). If this happens, the pattern is validated and the downside targets at 89,319 USD (~83,616 EUR) and 87,729 USD (~82,092 EUR) become more likely.
Ethereum (ETH) analysis
ETHUSD is showing signs of a potential pullback, and the formation of a head and shoulders pattern reinforces the bearish bias. This pattern typically signals a trend reversal, especially after an extended uptrend or within a broader downtrend.
Confirmation comes with a breakdown and candle close below the support zone of 1,740 USD (~1,631 EUR). If confirmed, it validates the head and shoulders structure and increases the likelihood of a bearish continuation, with downside targets at 1,697 USD (~1,591 EUR) and 1,654 USD (~1,551 EUR).
MultiversX (EGLD) analysis
EGLDUSD is currently consolidating tightly beneath the descending channel, forming a potential bull flag—a bullish continuation structure that often follows an upward impulse. This suggests momentum may be building for a breakout.
For confirmation, we need a breakout and candle close above the resistance zone of 15.55 USD (~14.58 EUR). If this happens, the bull flag is validated, increasing the probability of a bullish move toward 15.85 USD (~14.86 EUR) and 16.15 USD (~15.14 EUR).
Avalanche (AVAX) analysis
AVAXUSD has also formed a bull flag, which is a bullish continuation setup typically occurring after an upward move. It signals potential for further upside.
To confirm this setup, we need a breakout and candle close above the resistance zone of 22.55 USD (~21.14 EUR). If confirmed, it increases the probability of a bullish move toward 23.08 USD (~21.66 EUR) and 23.56 USD (~22.13 EUR).
Binance Coin (BNB) analysis
BNBUSD has broken out of a descending channel and formed a W pattern, which together increase the probability of a bullish move. However, we still need confirmation.
That would come with a breakout and candle close above the resistance zone of 608.8 USD (~570.9 EUR). If confirmed, this opens the way toward the upside targets of 614.3 USD (~576.1 EUR) and 619.9 USD (~581.5 EUR).
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