Crypto analysis for BTC, ETH, EGLD, AVAX and SOL - April 17, 2025
Crypto market in the last 24h:
🌐 Global market cap: $2.66T (+0.75%)
📊 Total 24h volume: $75.68B (-1.17%)
💰 DeFi volume: $6.43B (8.49% of total volume)
🔒 Stablecoins volume: $69.72B (92.12% of total volume)
💵 Bitcoin dominance: 63.02% (-0.06%)
Bitcoin (BTC) Analysis
Bitcoin (BTC) is showing bearish potential as it has formed a head and shoulders pattern along with bearish divergence. This combination increases the likelihood of a downward move. However, for confirmation, we need a breakdown and candle closing below the support zone at 82,732. If this breakdown occurs, the next potential downside targets are 80,055 and 77,854 USD.
Ethereum (ETH) Analysis
Ethereum (ETH) shows bullish potential after breaking out of a descending channel and forming an inverse head and shoulders pattern, supported by bullish divergence. These signals increase the probability of an upward move. For confirmation, we need a breakout and candle closing above the resistance zone at 1,614. If confirmed, the next potential upside targets are 1,654 and 1,698 USD.
MultiversX (EGLD) Analysis
MultiversX (EGLD) remains in a bearish trend, making short opportunities more favorable. Additionally, it has formed a bear flag pattern, which further supports a bearish continuation. Confirmation requires a breakdown and candle closing below the support zone at 12.09. If this occurs, the next potential downside targets are 10.88 and 9.74 USD.
Avalanche (AVAX) Analysis
Avalanche (AVAX) is showing bearish signs after breaking down from a descending channel and forming a head and shoulders pattern. Both signals increase the probability of a downward move. However, we need a breakdown and candle closing below the support level at 18.50 to confirm. If this level is broken, the next downside targets could be 17.28 and 16.08 USD.
Solana (SOL) Analysis
Solana (SOL) is showing bullish potential due to the formation of an inverse head and shoulders pattern, which increases the probability of an upward move. For confirmation, we need a breakout and candle closing above the resistance zone at 136.19. If this breakout occurs, it could open the way for upside targets at 150.82 and 168.11 USD.
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