Crypto analysis for BTC, ETH, EGLD, XRP and DOT - April 10, 2025
Crypto market in the last 24h:
š Global market cap: $2.58T (+5.45%)
š Total 24h volume: $160.5B (+23.18%)
š° DeFi volume: $10.63B (6.62% of total volume)
š Stablecoins volume: $151.92B (94.65% of total volume)
šµ Bitcoin dominance: 62.62% (+0.09%)
Bitcoin (BTC) Analysis
BTC is currently showing a bullish structure as it seems to be forming an inverse head and shoulders pattern. However, for confirmation, the right shoulder must first complete, followed by a breakout and candle closing above the resistance zone of 84,837 USD. If confirmed, this breakout could lead to potential targets of 88,685 USD and 93,857 USD.
Ethereum (ETH) Analysis
ETH has taken liquidity from late sellers and has shown a Change of Character (CHoCH) toward the bullish side, along with the formation of a gap, which increases the probability of a bullish move. This setup becomes even more significant as it aligns with the Fibonacci golden zone, where the gap also exists. On lower timeframes, if a bullish pattern forms within that zone, it would further increase the probability of a bullish bounce. If confirmed, we can expect potential targets of 1,674 USD and 1,844 USD.
MultiversX (EGLD) Analysis
EGLD is on the verge of breaking out from both a W pattern and a descending channel, which significantly increases the probability of a bullish move. However, for confirmation, a breakout and candle closing above the resistance zone of 14.31 USD is required. If confirmed, this breakout could lead to potential targets of 15.48 USD and 16.89 USD.
Ripple (XRP) Analysis
XRP has formed an expanding triangle pattern, which increases the probability of a bullish move. However, for confirmation, a breakout and candle closing above the resistance zone of 2.1747 USD is required. If confirmed, this breakout could lead to potential targets of 2.3559 USD and 2.5611 USD.
Polkadot (DOT) Analysis
DOT has formed a descending channel combined with a W pattern and bullish divergence, all of which increase the probability of a bullish move. Additionally, there's evidence of a seller's trap at the bottom, and once a breakout occurs, the triggering of their stop-losses could further fuel the upward momentum. For confirmation, a breakout and candle closing above the resistance zone of 3.75 USD is required. If confirmed, this breakout could lead to potential targets of 4.02 USD and 4.47 USD.
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