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

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.

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