Crypto analysis for BTC, ETH, EGLD, FIL and AVAX - March 17, 2025
Crypto market in the last 24h:
🌐 Global Market Cap: $2.74T (-0.23%)
📊 24-Hour Total Volume: $73.48B (+66.25%)
💰 DeFi Volume: $5.81B (7.90% of total volume)
🔒 Stablecoins Volume: $69.69B (94.83% of total volume)
💵 Bitcoin Dominance: 60.68% (-0.08%)
Bitcoin (BTC) Analysis
BTC has formed a bear flag, shown a bull trap, and also formed an inverse cup & handle, all of which increase the probability of a bearish move. However, for confirmation, we need a breakdown and candle closing below the support zone of 82177, which can then give us the targets of 79935 and 77953 USD.
Ethereum (ETH) Analysis
ETH is showing a bearish flag, has formed a head and shoulders pattern with bearish divergence, all of which increase the probability of a bearish move. However, for confirmation, we need a breakdown and candle closing below the support zone of 1864, which can give us the targets of 1815 and 1773 USD.
MultiversX (EGLD) Analysis
EGLD has formed a triangle pattern, and the probability of a bearish move is high. If the price moves down, it will also form an M pattern, which will further increase the probability of a bearish move. However, for confirmation, we need a breakdown and candle closing below the support zone of 17.60, which can give us the targets of 17.06 and 16.60 USD.
Filecoin (FIL) Analysis
FIL has formed a rising wedge along with a head and shoulders pattern and bearish divergence, all of which increase the probability of a bearish move. However, for confirmation, we need a breakdown and candle closing below the support zone of 2.81, which can give us the targets of 2.72 and 2.63 USD.
Avalanche (AVAX) Analysis
AVAX is looking bearish as it has faced resistance at a crucial zone, trapped buyers, and is forming an M pattern with bearish divergence, all of which increase the probability of a downside move. However, for confirmation, we need a breakdown and candle closing below the support zone of 17.57, which can give us the targets of 16.46 and 15.60 USD.
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