Crypto analysis for BTC, ETH, EGLD, SUI and AAVE - February 10, 2025
Crypto market in the last 24h:
🌐 Global market cap: $3.19T (+0.20%)
📊 Total 24h volume: $104.9B (+39.32%)
💰 DeFi volume: $7.41B (7.07% of total volume)
🔒 Stablecoins volume: $96.53B (92.02% of total volume)
💵 Bitcoin dominance: 60.77% (+0.42%)
Bitcoin (BTC) Analysis
BTC has formed a triangle pattern, providing opportunities for both bullish and bearish moves. In the bullish scenario, a breakout and candle closing above the resistance zone of 97,897 USD would confirm buyers' strength, potentially leading to targets of 100,234 USD and 102,742 USD.
On the other hand, if the price breaks below the support zone of 95,519 USD and closes a candle under this level, it would confirm a bear flag breakdown, increasing the probability of a bearish move toward 93,683 USD and 92,215 USD. Waiting for confirmation in either direction is crucial to avoid false breakouts or breakdowns.
Ethereum (ETH) Analysis
ETH has formed a descending channel, increasing the probability of a bullish move. However, for confirmation, we need a breakout and a candle closing above the resistance zone of 2,729 USD. If this breakout occurs, it could signal bullish strength, potentially leading to targets of 2,920 USD and 3,126 USD.
MultiversX (EGLD) Analysis
EGLD is currently consolidating within a key support and resistance zone, providing opportunities for both bullish and bearish scenarios. If the price breaks out and closes a candle above the resistance zone of 23.12 USD, it will confirm the breakout of a W pattern, potentially leading to targets of 24.69 USD and 26.34 USD.
On the bearish side, if the price breaks below the support zone of 20.54 USD and closes a candle under this level, it will confirm the breakdown of an M pattern, increasing the probability of a bearish move toward 19.31 USD and 18.31 USD.
Sui (SUI) Analysis
SUI has formed a falling wedge pattern, which is typically considered a bullish reversal signal. However, for confirmation, we need a breakout and a candle closing above the resistance zone of 3.67 USD. If this breakout occurs, it could increase the probability of a bullish move, potentially leading to targets of 4.18 USD and 4.86 USD.
Aave (AAVE) Analysis
AAVE has formed a descending channel along with a W pattern within it, both of which increase the probability of a bullish move. However, for confirmation, we need a breakout and a candle closing above the resistance zone of 253.08 USD. If this breakout occurs, it could signal bullish strength, potentially leading to targets of 268.26 USD and 291.35 USD.
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