Crypto Market update and analysis for BTC, ETH, EGLD, APE and DOGE

Crypto Market in the last 24h:

💰 Global market cap: $2.64T (+2.11%)
📊 Total 24h volume: $92.81B (+2.31%)
🚀 DeFi volume: $9.49B (10.23% of total volume)
💳 Stablecoins volume: $85.12B (91.72% of total volume)
⚡ Bitcoin dominance: 52.76%

Bitcoin (BTC) Analysis

For BTC, we’re seeing the formation of an “inverse head and shoulders” pattern, indicating a potential bullish trend ahead. Confirmation of this pattern will come with a breakout above the resistance or neckline level at 72,660.00 USD. Once confirmed, we can set our sights on targets at 76,000.00 USD and 80,000.00 USD.

Ethereum (ETH) Analysis

ETH is showing the formation of a “cup and handle” pattern with bullish divergence on the MACD indicator. This combination suggests a potential bullish movement ahead. To confirm this pattern, we’ll need to see a breakout above the level of 3,734.00 USD. Once confirmed, our targets could be at 3,950.00 USD and 4,200.00 USD.

MultiversX (EGLD) Analysis

For MultiversX, we see a breakdown below the previous low, indicating bearish pressure. However, if the price rebounds from this level, it could signal a bear trap scenario, where bears get caught out by a sudden upward movement. Additionally, we’re observing the formation of an “inverse head and shoulders” pattern, which typically suggests a potential bullish reversal. To confirm this pattern, we’ll need to see a breakout above the level of 53.79 USD. Once confirmed, our targets could be at 54.99 USD and 56.40 USD.

ApeCoin (APE) Analysis

APE has formed a “falling wedge” pattern, coupled with bullish divergence, suggesting a potential upward movement. This pattern typically indicates a reversal from a downtrend to an uptrend. However, for confirmation of this bullish scenario, we’ll need to see the price break above the resistance level of 1.816 USD. Once this breakout occurs, our targets could be at 1.984 USD and 2.142 USD.

Dogecoin (DOGE) Analysis

DOGE is in a bullish trend & formed a W pattern, signaling a potential upward movement. However, for confirmation of this bullish scenario, we’ll need to see the price break above the level of 0.2116 USD. Once this breakout occurs, our targets could be at 0.2296 USD and 0.2500 USD.

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