Crypto analysis for BTC, ETH, EGLD, GALA and KSM - January 23, 2024
Crypto market in the last 24h:
🌐 Global market cap: $3.59T (-0.40%)
📊 Total 24h volume: $176.2B (+11.25%)
💰 DeFi volume: $9.04B (5.13% of total)
🔒 Stablecoins volume: $161.97B (91.93% of total)
💵 Bitcoin dominance: 57.96% (+0.61%)
Bitcoin (BTC) Analysis
BTC has broken down from the supportive trendline and formed an M pattern with bearish divergence, increasing the probability of a bearish move. For confirmation, we need a breakdown and candle closing below the support zone of 99,437 USD. If this occurs, the potential targets could be 95,749 USD and 92,297 USD.
Ethereum (ETH) Analysis
ETH has formed a triangle pattern with bullish divergence, increasing the probability of a bullish move. For confirmation, we need a breakout and candle closing above the resistance zone of 3,477 USD. If confirmed, the potential targets could be 3,749 USD and 4,043 USD.
MultiversX (EGLD) Analysis
EGLD has formed a head and shoulders pattern, increasing the probability of a bearish move. For confirmation, we need a breakdown and candle closing below the support zone of 28.84 USD. If confirmed, the potential targets could be 25.38 USD and 22.27 USD.
Gala (GALA) Analysis
GALA is showing an increased probability of a bullish move due to the falling wedge pattern. However, for confirmation, we need a breakout and candle closing above the resistance zone of 0.03799284 USD. If confirmed, the potential targets could be 0.04630834 USD and 0.05602228 USD.
Kusama (KSM) Analysis
KSM is showing bullish potential as it has taken support from the supportive trendline of the descending channel and may form a W pattern from this point. If the W pattern completes, we need a breakout and candle closing above the resistance zone of 29.32 USD for confirmation. Upon confirmation, the potential targets could be 31.14 USD and 33.38 USD.
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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.