Crypto Market update 6 July 2023

💰 Total crypto market cap is €1.11T, with a 1.70% increase in the last day.

💼 Total crypto market volume in the last 24 hours is €32.48B, showing a growth of 17.63%. Within DeFi, the total volume is €2.33B, accounting for 7.18% of the overall market volume.

💹 Volume of all stable coins now stands at €29.74B, representing 91.55% of the total crypto market volume in the last 24 hours.

🔝 Bitcoin dominance is currently at 49.96%, rising by 0.31% in the last day.

Check out the analysis and price trends for the following cryptocurrencies:

1️⃣ BTC (Bitcoin)
2️⃣ ETH (Ethereum)
3️⃣ EGLD (MultiversX)
4️⃣ PEPE (PEPE)
5️⃣ MATIC (Polygon)
6️⃣ APE (ApeCoin)
7️⃣ XRP (Ripple)

Bitcoin (BTC) analysis and update

Bitcoin's recent performance has demonstrated remarkable progress, as our previously set targets were met with remarkable precision.

BTC price ais more volatile, suggesting possible short therm  market fluctuations. There is a potential for a bullish trend if BTC successfully breaks through the 29,000  Euro level. Such a breakout could indicate a positive momentum for the whole crypto market.

However, it is crucial to also consider an alternative scenario. In the event of BTC encountering resistance in the supply zone, we may observe a downward movement. Should this occur, the potential targets to monitor would be approximately 28,295 Euro and 28,097 Euro.

Ethereum (ETH) analysis and update

ETH has the possibility of  creating a  head and shoulders pattern if it breaches the  1,738.51 Euro level. This pattern typically indicates a shift from a bullish trend to a bearish one. In such a scenario, we can anticipate potential targets around 1,718 Euro and 1,697 Euro.

Conversely, if ETH exhibits bullish momentum and successfully surpasses 1,831 Euro, it could indicate a favorable market movement. In this case, we may anticipate a continuation of the bullish trend, with potential levels reaching approximately 1,881 Euro and 1,919 Euro.

MultiversX (EGLD) analysis and update

EGLD is approaching  a significant resistance level and trendline. Should the cryptocurrency successfully surpass the 33.20 Euro  mark, we may potentially witness a bullish surge in the market. In this scenario, the projected targets for EGLD/EUR would be approximately 34.65 Euro and 36.37 Euro.

Nevertheless, there is also a possibility of a breakdown below the 31.48  Eurolevel. Should EGLD/EUR encounter such a bearish movement, we can anticipate a downward trend, with potential targets situated at 30.17 Euro and 28.95 Euro.

PEPE (PEPE) analysis and update

If PEPE successfully breaches the upper level of 0.000001654 Euro, we could anticipate a bullish momentum in the market. In this scenario, potential targets for PEPE/EUR would be around 0.000001806 Euro and 0.000001944 Euro.

Conversely, within the current range, PEPE/EUR is forming a trendline. If it experiences a breakdown below the level of 0.000001479 Euro, it could indicate a bearish movement. In such a case, we might expect the cryptocurrency to target levels at approximately 0.000001421 Euro and 0.000001359 Euro.

Polygon (MATIC) analysis and update

MATIC is forming a rising wedge pattern that is often indicative of a potential trend reversal from bullish to bearish. If MATIC/EUR successfully surpasses the upper boundary of 0.6600 Euro, it could imply a continuation of the bullish trend. In such a scenario, we might anticipate the cryptocurrency to target levels around 0.7008 Euro and 0.7498 Euro.

On the other hand, if MATIC/EUR experiences a breakdown below the lower boundary of 0.6087 Euro, it could signal a bearish movement in the market. In this case, we could expect the cryptocurrency to reach levels at approximately 0.5871 Euro and 0.5646 Euro.

ApeCoin (APE) updates

APE is currently approaching its demand zone, which suggests a potential bullish movement in the near future.

Ripple (XRP) updates

Ripple (XRP) is exhibiting bullish momentum in the vicinity of the demand zone.

Limitation of Liability

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.

The content provided on the Tradesilvania website is for informational purposes only and should not be considered as investment advice, financial advice, trading advice, or any other form of advice. We do not endorse or recommend the buying, selling, or holding of any cryptocurrency. It is important that you conduct your own research and consult with a financial advisor before making any investment decisions. We cannot be held responsible for any investment choices made based on the information presented on our website.

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.

Total or partial reproduction of this report is permitted only by mentioning the source.