Crypto analysis for BTC, ETH, EGLD, SUI and ADA

Crypto market in the last 24 hours:

🌐 Global Market Cap: $3.45T (+1.66%)
📊 Total 24h Volume: $164.97B (-41.44%)
💰 DeFi Volume: $22.45B (13.61% of total volume)
🔒 Stablecoin Volume: $155.13B (94.05% of total volume)
💵 Bitcoin Dominance: 59.7% (+1.63%)

Bitcoin (BTC) Analysis

BTC has broken down from a rising wedge and is forming an M pattern, both increasing the probability of a bearish move.
For confirmation, we need a breakdown and candle close below the support zone at 103,234 USD.
Once confirmed, downside targets are 101,729 USD and 100,190 USD.

Ethereum (ETH) Analysis

ETH has broken down from a rising wedge and is currently facing resistance from the resistance zone.
However, the price is moving lower without a proper retest, so for confirmation, we need a retest of the resistance zone at 3,449 USD.
After confirmation, downside targets are 3,339 USD and 3,234 USD.

MultiversX (EGLD) Analysis

EGLD has formed a bear flag along with an M pattern, both increasing the probability of a bearish move.
For confirmation, we need a breakdown and candle close below the support zone at 8.42 USD.
Once confirmed, downside targets are 8.18 USD and 7.90 USD.

Cardano (ADA) Analysis

ADA is taking resistance from the resistance zone, has broken down from a rising wedge, and formed an M pattern — all of which increase the probability of a bearish move.
For confirmation, we need a breakdown and candle close below the support zone at 0.538 USD.
Once confirmed, downside targets are 0.524 USD and 0.506 USD.

Sui (SUI) Analysis

SUI has formed a head and shoulders pattern with bearish divergence, both increasing the probability of a bearish move.
For confirmation, we need a breakdown and candle close below the support zone at 1.99 USD.
Once confirmed, downside targets are 1.93 USD and 1.88 USD.

📈 Our Short-Term Estimates (96H)

Disclaimer: These are our personal opinions, not financial advice. We invest our own money — and sometimes we lose. DYOR!

BTC - 1% to 2% - DOWN - Rising wedge breakdown
ETH - 1% to 3%- DOWN - At resistance
ADA - 2% to 4%- DOWN - M pattern at resistance
KSM - 2% to 4%- DOWN - At resistance
LTC - 2% to 4%- DOWN - At resistance

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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.