Crypto analysis for BTC, ETH, EGLD, DOT and ALGO

Crypto market in the last 24 hours:

🌐 Global Market Cap: $3.91T (+1.26%)
📊 24h Total Volume: $174.1B (-2.05%)
💰 DeFi Volume: $40.72B (23.38% of total volume)
🔒 Stablecoins Volume: $165.95B (95.33% of total volume)
💵 Bitcoin Dominance: 57.5% (-2.95%)

Bitcoin (BTC) Analysis

BTC is currently trading at a crucial support zone and has formed an Inverse Head and Shoulders, which increases the probability of a bullish move. However, confirmation is required with a breakout above the resistance trendline, followed by a successful retest of the support zone at 112,762 USD. If confirmed, potential upside targets are 115,405 USD and 118,049 USD.

Ethereum (ETH) Analysis

ETH is in a bullish trend and, following a pullback, has formed an Inverse Head and Shoulders structure, which increases the probability of a bullish move. For confirmation, a breakout and candle closing above the resistance zone at 4,713 USD is required. If confirmed, this could lead to potential upside targets at 4,889 USD and 5,092 USD.

MultiversX (EGLD) Analysis

EGLD has formed a triangle-like pattern along with a W pattern, accompanied by bullish divergence. This combination increases the probability of a bullish move. For confirmation, a breakout and candle closing above the resistance zone at 18.52 USD is required. If confirmed, potential upside targets are 25.43 USD and 34.26 USD.

Polkadot (DOT) Analysis

DOT has broken out of a resistive trendline and subsequently formed a W pattern with bullish divergence, which increases the probability of a bullish move. For confirmation, a breakout and candle closing above the resistance zone at 4.67 USD is required. If confirmed, this could lead to potential upside targets at 6.60 USD and 9.53 USD.

Algorand (ALGO) Analysis

ALGO has formed a Bull Flag pattern, which suggests a potential continuation to the upside. For confirmation, a breakout and candle closing above the resistance zone at 0.287 USD is required. If confirmed, this could lead to potential upside targets at 0.340 USD and 0.394 USD.

📈 Our Short-Term Estimates (96H)

Disclaimer: These are our personal opinions, not financial advice. We invest our own money — and sometimes we lose. DYOR!

BTC - 1% to 2% - UP - At support
ETH - 1% to 3%- UP - Inverse head & shoulders
SOL 2% to 4%- UP - Bullish breakout
DOGE - 2% to 4%- DOWN - At resistance
BNB - 2% to 4%- DOWN - At resistance

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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.