Crypto analysis for BTC, ETH, EGLD, LTC and AVAX - January 9, 2024
Crypto market in the last 24h:
š Global market cap: $3.27T (-2.36%)
š Total volume 24h: $162.03B (-11.74%)
š° DeFi volume: $12.05B (7.43% of total volume)
š Stablecoins volume: $149.76B (92.43% of total volume)
šµ Bitcoin dominance: 56.42% (-0.27%)
Bitcoin (BTC) Analysis
BTC has formed a head and shoulders pattern with bearish divergence, increasing the probability of a bearish reversal. For confirmation, a breakdown and candle closing below the support zone of 89,451 USD is required, which could lead to targets of 85,227 USD and 81,104 USD.
Ethereum (ETH) Analysis
ETH has formed an inverse cup and handle pattern, increasing the probability of a bearish move. For confirmation, a breakdown and candle closing below the support zone of 3,206 USD is required, which could lead to targets of 3,098 USD and 2,984 USD.
MultiversX (EGLD) Analysis
EGLD is presenting opportunities for both directions. If the price breaks out and closes a candle above the resistance zone of 39.53 USD, it could confirm a W pattern, targeting 45.19 USD and 50.95 USD. On the other hand, if the price breaks down and closes a candle below the support zone of 29.44 USD, it could confirm a bear flag pattern, targeting 26.55 USD and 23.98 USD.
Litecoin (LTC) Analysis
LTC has exhibited a trap and formed an M pattern, increasing the probability of a bearish move. For confirmation, a breakdown and candle closing below the support zone of 94.94 USD is required, which could lead to targets of 87.22 USD and 81.03 USD.
Avalanche (AVAX) Analysis
AVAX has formed an inverse cup and handle pattern, increasing the probability of a bearish move. However, confirmation is needed through a breakdown and candle closing below the support zone of 33.46 USD, which could lead to targets of 29.87 USD and 26.66 USD.
All cryptocurrencies are available for trading on Tradesilvania , and their prices can be seen on the Tradesilvania price page, accessible through the following link: https://tradesilvania.com/en/prices
With the help of our platform, you can deposit, withdraw, buy or sell any of these cryptocurrencies using the free digital wallet. SEPA Top-up (On-Ramp & Off-Ramp) Euro and RON instant transfers and over 100 cryptocurrencies, are all available in our app.
Limitation of Liability
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.
The content provided on the Tradesilvania website is for informational purposes only and should not be considered as investment advice, financial advice, trading advice, or any other form of advice. We do not endorse or recommend the buying, selling, or holding of any cryptocurrency. It is important that you conduct your own research and consult with a financial advisor before making any investment decisions. We cannot be held responsible for any investment choices made based on the information presented on our website.
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.