Crypto analysis for BTC, ETH, EGLD, DOT and PEPE - March 3, 2025
Crypto market in the last 24h:
🌐 Global Market Cap: $3.03T (+6.60%)
📊 Total 24h Volume: $205.96B (+195.73%)
💰 DeFi Volume: $12.59B (6.11% of total volume)
🔒 Stablecoins Volume: $188.09B (91.33% of total volume)
💵 Bitcoin Dominance: 60.29% (+0.36%)
Bitcoin (BTC) Analysis
BTC has shown a proper impulse move with five waves, followed by a corrective ABC wave pattern reaching the 50% Fibonacci level, indicating a deep correction. On a larger timeframe, this impulse and corrective pattern resemble a corrective AB structure, suggesting a high probability of another downward leg.
For confirmation, it's crucial to wait for a breakdown and candle closing below the support zone of 88,001 USD, which could lead to targets of 83,218 USD and 79,386 USD. Additionally, this move could trap buyers who entered the market following news about the US crypto reserve. Traders should exercise caution and keep position sizes low, as news-driven price action can be unpredictable.
Ethereum (ETH) Analysis
ETH has formed a descending channel alongside bullish divergence, both of which increase the probability of a bullish move. However, for confirmation, it needs to break out and close a candle above the resistance zone of 2,917 USD. If this breakout occurs, it could lead to potential targets of 3,308 USD and 3,739 USD.
MultiversX (EGLD) Analysis
EGLD has broken out of the resistance trendline and formed a W pattern, both of which increase the probability of a bullish move. However, for confirmation, we need a breakout and candle closing above the resistance zone of 25.94 USD. If this breakout occurs, it could give us targets of 29.22 USD and 33.48 USD.
Polkadot (DOT) Analysis
DOT has formed a descending channel along with a W pattern, which increases the probability of a bullish move. However, for confirmation, we need a breakout and candle closing above the resistance zone of 5.39 USD. If this breakout occurs, it could give us targets of 6.18 USD and 7.57 USD.
Pepe (PEPE) Analysis
PEPE has broken out of a falling wedge while also forming a W pattern with bullish divergence. However, for confirmation, we need a breakout and candle closing above the resistance zone of 0.00000932 USD. If this breakout happens, it could give us targets of 0.00001055 USD and 0.0000220 USD.
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