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

Crypto market in the last 24h:

🌐 Global Market Cap: $3.36T (+0.89%)
📊 Total 24h Volume: $142.81B (+2.67%)
💰 DeFi Volume: $25.86B (18.13% of total volume)
🔒 Stablecoins Volume: $130.93B (91.70% of total volume)
💵 Bitcoin Dominance: 61.6% (-0.91%)

Bitcoin (BTC) Analysis

BTC is currently moving within an ascending channel with bearish divergence, which increases the probability of a downside move. However, for confirmation, we need a breakdown and candle close below the support zone at 102,886 USD. If this happens, the next targets could be 101,303 USD and 99,530 USD.

Ethereum (ETH) Analysis

ETH has also formed an ascending channel and is in the process of developing an M pattern, accompanied by bearish divergence. Together, these factors suggest a higher chance of a bearish move. For confirmation, we’re looking for a breakdown and candle close below the 2,434 USD support zone. If confirmed, targets become 2,271 USD and 2,135 USD.

MultiversX (EGLD) Analysis

EGLD has formed a bull flag and currently presents opportunities on both sides. If the price makes a breakout and closes a candle above the resistance zone at 20.25 USD, it may target 21.19 USD and 22.30 USD. On the bearish side, if a breakdown occurs with a candle close below the support at 18.55 USD, it will confirm an M pattern with potential targets at 17.67 USD and 16.92 USD.

Litecoin (LTC) Analysis

LTC looks bullish due to the formation of a bull flag, which increases the likelihood of a continuation move. For confirmation, we need a breakout and candle close above the resistance zone at 106.97 USD. If this happens, the next upside targets are 112.34 USD and 118.02 USD.

Ripple (XRP) Analysis

XRP is forming an inverse head and shoulders pattern along with bullish divergence, which together suggest a bullish scenario. However, we need consolidation at current levels followed by a breakout and candle close above the resistance zone at 2.6678 USD for confirmation. If confirmed, potential upside targets are 3.0946 USD and 3.6747 USD.

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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.

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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.