Crypto analysis for BTC, ETH, EGLD, LTC and ADA - February 17, 2025
Crypto market in the last 24h:
🌐 Global market cap: $3.19T (-0.77%)
📊 Total volume 24h: $70.01B (+20.02%)
💰 DeFi volume: $5.53B (7.90% of total)
🔒 Stablecoin volume: $63.88B (91.24% of total)
💵 Bitcoin dominance: 59.68% (-0.15%)
Bitcoin (BTC) Analysis
BTC looks strong due to a potential seller’s trap followed by the formation of a W pattern, increasing the probability of a bullish move. However, for confirmation, we need a breakout and a candle closing above the resistance zone at 96,678 USD. If this breakout occurs, it could trigger sellers’ stop-losses, adding bullish momentum and potentially pushing the price toward targets of 97,151 USD and 97,669 USD.
Ethereum (ETH) Analysis
ETH has formed a falling wedge pattern along with a W pattern, both increasing the probability of a bullish move. However, for confirmation, we need a breakout and a candle closing above the resistance zone at 2,689 USD. If this breakout occurs, it could lead to further bullish momentum, with potential targets at 2,721 USD and 2,754 USD.
MultiversX (EGLD) Analysis
EGLD is currently in a consolidation zone and has the potential to trap sellers. However, for confirmation, we need a breakout above the resistance trendline and the resistance zone at 22.86 USD. If this breakout occurs, it could trigger sellers’ stop-losses, increasing bullish momentum and pushing the price toward targets of 23.35 USD and 23.83 USD.
Litecoin (LTC) Analysis
LTC looks bearish due to the formation of a head and shoulders pattern, increasing the probability of a downward move. However, for confirmation, we need a breakdown and a candle closing below the support zone at 123.25 USD. If this happens, it could lead to further downside, with targets at 120.06 USD and 117.08 USD.
Cardano (ADA) Analysis
ADA looks bullish due to the formation of a cup & handle pattern along with a resistance trendline, increasing the probability of an upward move. However, for confirmation, we need a breakout and a candle closing above the resistance trendline and the resistance zone at 0.832 USD. If this breakout occurs, it could trigger further bullish momentum, pushing the price toward targets of 0.909 USD and 0.990 USD.
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