Crypto analysis for BTC, ETH, EGLD, LTC and SOL

Crypto market in the last 24h:

🌐 Global market cap: $2.94T (-0.67%)
📊 24h total volume: $55.55B (+12.28%)
💰 DeFi volume: $3.95B (7.11% of total volume)
🔒 Stablecoins volume: $51.57B (92.82% of total volume)
💵 Bitcoin dominance: 63.70% (-0.20%)

Bitcoin (BTC) Analysis

BTC is moving in an uptrend but with consolidation, which shows weakening bullish momentum. This is also confirmed by a bearish divergence and the formation of a possible head and shoulders pattern, where the right shoulder is currently forming. Its completion is likely, given the reduced bullish strength. If the pattern completes and we get a breakdown with a candle close below the support zone of 92,919 USD, then the next targets are 90,178 USD and 87,364 USD.

Ethereum (ETH) Analysis

ETH is still following our previous analysis, but the ascending channel has extended further, suggesting even stronger potential for a move after a breakdown. More consolidation usually means more stop-loss liquidity below support. If the price breaks down and closes a candle below the support zone of 1,762 USD, then we can expect targets at 1,698 USD and 1,641 USD.

MultiversX (EGLD) Analysis

EGLD has formed a bull flag pattern, but it’s important to note that this will only increase the probability of a bullish move if BTC also turns bullish. If that happens and EGLD breaks out and closes a candle above the resistance zone of 18.29 USD, then we can expect the next targets to be 19.59 USD and 21.77 USD.

Litecoin (LTC) Analysis

LTC has broken out above a resistive trendline and then formed an inverse head and shoulders pattern, increasing the probability of a bullish move. However, for confirmation, we need a breakout and candle close above the resistance of 90.95 USD. If that happens, we can look at targets of 102.90 USD and 118.82 USD.

Solana (SOL) Analysis

SOL has broken down from a rising wedge pattern and formed an M pattern along with bearish divergence. Together, these increase the probability of a bearish move. For confirmation, we need a breakdown and a candle close below the support zone of 141.02 USD. If this plays out, the targets are 127.36 USD and 116.82 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.