Crypto analysis for BTC, ETH, EGLD, BNB and FIL - October 14, 2024
Crypto market in the last 24h:
🌐 Global market cap: $2.23T (+1.77%)
📊 Total 24h volume: $60.58B (+33.42%)
💰 DeFi volume: $3.62B (5.98% of total volume)
🔒 Stablecoins volume: $54.26B (89.56% of total volume)
💵 Bitcoin dominance: 56.73% (+0.09%)
Bitcoin (BTC) Analysis
BTC is showing a similar price action to a previous structure, forming an M pattern along with a retest, which resembles an inverse cup & handle pattern. This combination increases the probability of a bearish move. For confirmation, we need a breakdown and a candle closing below the support zone of 61,756 USD, which could lead to targets of 61,271 USD and 60,763 USD.
Ethereum (ETH) Analysis
ETH has formed a head and shoulders pattern, which increases the probability of a bearish move. For confirmation, we need a breakdown and a candle closing below the support zone of 2,432 USD to validate this pattern. This could lead to targets of 2,414 USD and 2,395 USD.
MultiversX (EGLD) Analysis
EGLD is exhibiting a Change Of Character (CHoCH) towards a bearish structure and forming an inverse cup & handle pattern, which increases the probability of a bearish move. For confirmation, we need a breakdown and a candle closing below the support zone of 26.09 USD, which could lead to targets of 25.58 USD and 25.19 USD.
Binance Coin (BNB) Analysis
BNB has been following a supportive trendline and is forming an M pattern, which increases the probability of a bearish move. For confirmation, we need a breakdown and a candle closing below the support zone of 553.2 USD, which could give us targets of 541.5 USD and 530.7 USD.
Filecoin (FIL) Analysis
FIL is currently following a resistive trendline and showing bullish divergence. If the price rises from here, it may form a W pattern, increasing the probability of a bullish move. For confirmation, we need a breakout and a candle closing above the resistance zone of 3.66 USD, which could provide targets of 3.81 USD and 3.96 USD.
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