Crypto analysis for BTC, ETH, EGLD, DOGE and SOL

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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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.

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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.

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