Crypto analysis for BTC, ETH, EGLD, LTC and PEPE - December 9, 2024
Crypto market in the last 24h:
š Global market cap: $3.6T (-1.17%)
š 24h total volume: $174.74B (+14.48%)
š° DeFi volume: $16.8B (9.61% of total volume)
š Stablecoin volume: $162.5B (93.00% of total volume)
šµ Bitcoin dominance: 54.64% (+0.76%)
Bitcoin (BTC) Analysis
BTC has formed a cup and handle pattern, which, on a lower timeframe, can also be interpreted as a falling wedge. Confirmation requires a breakout and candle closing above the resistance zone at 103,612 USD. If validated, the potential targets are 105,839 USD and 107,858 USD.
Ethereum (ETH) Analysis
ETH has formed a bull flag pattern, signaling a higher probability of bullish continuation. Confirmation requires a breakout and candle closing above the resistance zone at 4,031 USD. If validated, the potential targets are 4,099 USD and 4,163 USD.
MultiversX (EGLD) Analysis
EGLD has formed an M pattern, indicating a higher probability of a bearish reversal. Confirmation requires a breakdown and candle closing below the support zone at 51.63 USD. If validated, the potential targets are 49.29 USD and 46.96 USD.
Litecoin (LTC) Analysis
LTC has formed a head and shoulders pattern, suggesting an increased probability of a bearish move. Confirmation requires a breakdown and candle closing below the support zone at 121.8 USD. If validated, the potential targets are 114.8 USD and 109.1 USD.
Pepe (PEPE) Analysis
PEPE has formed a double top pattern and trapped breakout buyers, initiating a decline that indicates further bearish potential, especially as stop-loss levels are triggered. The presence of bearish divergence strengthens the probability of a downward move. Confirmation requires a breakdown and candle closing below the support level at 2421 USD, which could lead to targets of 2347 USD and 2265 USD.
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