Crypto analysis for BTC, ETH, EGLD, DOGE and SOL - November 14, 2024
Crypto market in the last 24h:
🌐 Global market cap: $3.01T (+3.36%)
📊 Total volume 24h: $304.32B (+20.70%)
💰 DeFi volume: $12.05B (3.96% of total volume)
🔒 Stablecoin volume: $281.45B (92.48% of total volume)
💵 Bitcoin dominance: 59.99% (+0.23%)
Bitcoin (BTC) Analysis
BTC has formed a W pattern near its support line, increasing the likelihood of a bullish move. To confirm this setup, a breakout and candle closing above the resistance zone at 90,602 USD is required. If this level is breached, BTC could initially target 91,901 USD, with a further target at 93,314 USD.
Ethereum (ETH) Analysis
ETH shows bearish potential, forming a head and shoulders pattern. This setup indicates a possible downward move if the market continues on a bearish trend. To confirm this pattern, a breakdown and candle closing below the support zone at 3,069 USD is necessary. If confirmed, ETH could initially target 2,996 USD, with a further target at 2,929 USD.
MultiversX (EGLD) Analysis
EGLD has formed a W pattern accompanied by bullish divergence, increasing the probability of an upward move. For confirmation of this bullish setup, a breakout and candle closing above the resistance zone at 31.11 USD is required. If confirmed, EGLD could target 32.48 USD initially, with a further target at 33.73 USD.
Dogecoin (DOGE) Analysis
DOGE has been consolidating following a bullish move, forming a potential bull flag pattern. To confirm this bullish setup, a breakout and candle closing above the resistance zone at 0.4425 USD is needed. If this breakout occurs, DOGE could initially target 0.4735 USD, with a further target at 0.5062 USD.
Solana (SOL) Analysis
SOL has formed a cup and handle pattern, which is a bullish continuation pattern. Given that the overall crypto market is in a bullish trend, the probability of this pattern playing out is high. To confirm this bullish move, a breakout and candle closing above the resistance zone at 225.66 USD is required. If confirmed, SOL could initially target 232.40 USD, with a further target at 239.31 USD.
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