Crypto Market update and analysis for BTC, ETH, EGLD, ADA & EOS - November 30, 2023
Crypto Market in the last 24h
💰 Global crypto market cap: €1.3T (🔽0.44%)
📊 Total volume in last 24h: €41.05B (🔽22.22%)
🌐 DeFi volume: €4.62B (11.25% of total crypto volume)
💱 Total stablecoin volume: €35.44B (86.35% of crypto volume)
₿ Bitcoin dominance: 51.89% (🔽0.18%)
Bitcoin (BTC) Analysis
BTC/EUR is currently showing a bullish stance, consolidating comfortably above the rising wedge pattern in the weekly timeframe. Based on the present price action, a probable scenario involves a retest of the upper trendline of the rising wedge and the 15 EMA. If the price manages to break above the level of 35,843 Euro, we can anticipate further bullish momentum, targeting levels around 39,319 Euro and 42,500 Euro.
Ethereum (ETH) Analysis
ETH/EUR is forming a W pattern on the weekly timeframe, a bullish signal that gains strength considering the formation of patterns on larger timeframes. To confirm this optimistic scenario, a breakout above the level of 2,000 Euro is essential. This breakout could open the way for target levels of 2,357 Euro and 2,601 Euro.
MultiversX (EGLD) Analysis
EGLD/EUR is forming an inverse head and shoulders pattern, indicating a potential bullish scenario. This pattern illustrates a shift from lower lows to higher highs, suggesting a reversal in the trend. To confirm this pattern, a breakout above the level of 53.38 Euro is needed. Once this breakout occurs, we can anticipate targets at 65.94 Euro and 82.01 Euro. Traders should keep a close eye on these developments for strategic decision-making.
EOS (EOS) Analysis
EOS/EUR has formed a bullish flag and pole pattern in the daily timeframe, a classic signal of trend continuation. Simultaneously, within this pattern, there’s the formation of a W pattern, adding to the bullish indications. For confirmation, a breakout above the resistance zone of 0.6575 Euro is eagerly awaited. Once this breakout occurs, it opens the door to potential targets at 0.6909 Euro and 0.7194 Euro.
Cardano (ADA) Analysis
ADA/EUR has formed an M pattern on the daily timeframe with a bearish divergence in the daily timeframe, increasing the probability for bearish movement. To confirm this bearish outlook, we need a breakdown below the critical level of 0.3138 Euro. A successful breakdown could pave the way for further declines, targeting levels around 0.2849 Euro and 0.2588 Euro.
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