Crypto Market update and analysis for BTC, ETH, EGLD, AVAX and DOGE - April 1, 2024
Crypto Market in the last 24h:
📊 Global market cap: $2.63T (-1.31%)
📈 Total 24h volume: $82.61B (+29.78%)
🔗 DeFi volume: $9.04B (10.94% of total volume)
💱 Stablecoins volume: $72.32B (87.55% of total volume)
🅱️ Bitcoin dominance: 52.06% (+0.13%)
BTC (Bitcoin) Analysis
BTC is showing opportunities for both bullish and bearish. A potential W or bull flag pattern is forming on the bullish side. If the price breaks above 71799 USD, it could confirm this pattern and lead to targets around 73940 USD and 75804 USD. Conversely, we’ll be watching for a breakdown below the level of 68321 USD for the bearish side. If the price falls below this level, it might signal further downward movement, with potential targets at 66928 USD and 65570 USD.
ETH (Ethereum) Analysis
ETH gives the same opportunities as BTC’s bullish and bearish trading scenarios. If the price breaks above the level of 3684 USD, it could confirm a W pattern, suggesting further upward movement with potential targets around 3890 USD and 4056 USD. On the other hand, we’ll be watching for a breakdown below the level of 3455 USD for the bearish side. If the price falls below this level, it might signal a downward trend because of the M pattern & bearish divergence, with potential targets at 3302 USD and 3180 USD.
EGLD (MultiversX) Analysis
EGLD formed a head and shoulders pattern, signaling a potential bearish move. For confirmation of this pattern, we’ll be watching for a breakdown below the level of 57.130 USD. If the price falls below this level, it could indicate a continuation of the bearish trend, with potential targets around 54.182 USD and 51.434 USD.
AVAX (Avalanche) Analysis
AVAX formed an inverse cup and handle pattern. These patterns suggest a potential bearish move in the market. To confirm this, we’ll be watching for a breakdown below the level of 48.96 USD, which could indicate a continuation of the bearish trend, with potential targets around 45.21 USD and 41.640 USD.
DOGE (Dogecoin) Analysis
The price of DOGE has broken below a supportive trendline and formed an M pattern. This pattern often indicates a potential bearish move in the market. Now, if the price breaks down below the level of 0.1949 USD, it could signal further downward movement. In such a scenario, traders might look towards targets around 0.1744 USD and 0.1572 USD.
Do you agree with our analysis and interpretation of the market?
Want to learn more or have a different perspective?
Let's discuss it in the Tradesilvania community 👉 Telegram Group
All cryptocurrencies are available for trading on Tradesilvania , and their prices can be seen on the Tradesilvania price page, accessible through the following link: https://tradesilvania.com/en/prices
With the help of our platform, you can deposit, withdraw, buy, or sell any of these cryptocurrencies using the free digital wallet.
SEPA Top-up (On-Ramp & Off-Ramp) Euro and RON instant transfers and over 100 cryptocurrencies, are all available in our app.
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.