Crypto Market and Analysis for BTC, ETH, EGLD, BNB and ADA

Crypto Market in the last 24h:

🌍 Global Market Cap: $2.26T (↓1.20%)
💸 Total 24h Volume: $62.89B (↓1.74%)
💡 DeFi Volume: $7.14B (11.35% of total volume)
💵 Stablecoins Volume: $57.64B (91.64% of total volume)
📊 Bitcoin Dominance: 53.18% (↓0.36%)

Bitcoin (BTC) Analysis

The BTC price is facing resistance from a trendline. To confirm this bearish move, we need to see the price break down below the level of 60,186 USD. If this happens, it could lead to targets around 58,153 USD and 56,388 USD.

Ethereum (ETH) Analysis

For ETH, a head and shoulders pattern has emerged, which is often a bearish reversal signal. If ETH breaks down below the key level of 2,849 USD, it could continue the bearish trend and lead to the formation of a new lower low. In this scenario, we might see targets around 2,706 USD and 2,596 USD.

MultiversX (EGLD) Analysis

For EGLD the short-term trend is bearish, and the price has formed a bear flag pattern. This pattern typically indicates the potential continuation of the current downtrend. For confirmation of this scenario, the price needs to break down below the level of 33.81 USD. If the price falls below this key level, potential targets could be around 28.39 USD and 23.71 USD.

Binance Coin (BNB) Analysis

In the case of BNB, a bull flag pattern has formed, which is typically a signal of a potential continuation of the current uptrend. This pattern suggests that the market may resume its upward trajectory after a brief consolidation period. For confirmation of this bullish scenario, we need to see a breakout above the level of 630 USD. If the price surpasses this level, potential targets could be around 693 USD and 751 USD.

Cardano (ADA) Analysis

An inverse cup and handle pattern has formed for ADA, suggesting a potential bearish move ahead. This pattern indicates the possibility of a downtrend resuming. For confirmation of this scenario, we’ll need a candle closing below the level of 0.427 USD. If that happens, we might expect targets around 0.376 USD and 0.332 USD.

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.

Click on image

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.