Crypto analysis for BTC, ETH, EGLD, AVAX and SUSHI - October 17, 2024
Crypto market in the last 24h:
š Global market cap: $2.31T (+0.42%)
š Total volume 24h: $80.55B (-25.08%)
š° DeFi volume: $3.73B (4.63% of total)
š Stablecoins volume: $73.13B (90.79% of total)
šµ Bitcoin dominance: 57.55% (+0.05%)
Bitcoin (BTC) Analysis
BTC has formed an inverse head and shoulders pattern with bullish divergence, which increases the probability of a bullish move. This pattern can also be considered a bull flag, suggesting potential trend continuation. For confirmation, we need a breakout and candle closing above the resistance zone of 71,016 USD, which can lead to targets of 78,693 USD and 88,146 USD.
Ethereum (ETH) Analysis
ETH has formed a W pattern accompanied by bullish divergence, which increases the probability of a bullish move. For confirmation, we need a breakout and candle closing above the resistance zone of 2,771 USD, which could lead to targets of 3,066 USD and 3,412 USD.
MultiversX (EGLD) Analysis
EGLD has formed a descending channel along with bullish divergence, which together increase the probability of a bullish move. For confirmation, we need a breakout and candle closing above the resistance zone of 31.07 USD, which could lead to targets of 34.75 USD and 39.36 USD.
Avalanche (AVAX) Analysis
AVAX has broken out of its resistive trendline and formed an inverse head and shoulders pattern along with bullish divergence, increasing the probability of a bullish move. For confirmation, we need a breakout and candle closing above the resistance zone of 33.07 USD, which could lead to targets of 40.74 USD and 48.30 USD.
SushiSwap (SUSHI) Analysis
SUSHI is showing a bear flag structure, which increases the probability of a bearish move. For confirmation, we need a breakdown and candle closing below the support zone of 0.70689711 USD, which could lead to targets of 0.66607517 USD and 0.62464804 USD.
All cryptocurrencies are available for trading on Tradesilvania , and their prices can be seen on the Tradesilvania price page, accessible through the following link: https://tradesilvania.com/en/prices
With the help of our platform, you can deposit, withdraw, buy or sell any of these cryptocurrencies using the free digital wallet. SEPA Top-up (On-Ramp & Off-Ramp) Euro and RON instant transfers and over 100 cryptocurrencies, are all available in our app.
Limitation of Liability
This report issued by Tradesilvania is purely informative and is not intended to be used as a tool for making investment decisions in crypto-assets. Any person who chooses to use this report in the process of making investment decisions assumes all related risks. Tradesilvania SRL has no legal or other obligation towards the person in question that would derive from the publication of this report publicly.
The content provided on the Tradesilvania website is for informational purposes only and should not be considered as investment advice, financial advice, trading advice, or any other form of advice. We do not endorse or recommend the buying, selling, or holding of any cryptocurrency. It is important that you conduct your own research and consult with a financial advisor before making any investment decisions. We cannot be held responsible for any investment choices made based on the information presented on our website.
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.
Total or partial reproduction of this report is permitted only by mentioning the source.