Cryptocurrency Market Trends in the Last 24 Hours

Crypto Market in the last 24h:

📈 Global crypto market cap: €1.2T (+0.43%)
📉 Total volume in the last 24 hours: €49.72B (-10.09%)
💼 DeFi accounts for 9.20% of the total: €4.58B
💰 Total volume of all stablecoins: €44.34B (89.18%)
🧐 Bitcoin's dominance: 52.92% (-0.40%)

Bitcoin (BTC) Analysis

Our previous market analysis proved accurate, with BTC, ETH, GALA, and PEPE all hitting their respective targets. Notably, we captured a significant 22% gain in GALA within a single day, underscoring the power of technical analysis and price action. As we delve into today’s analysis, BTC/EUR is on track to hit our second target. For safe traders, securing 50% of their profits and setting their stop-loss at the breakeven point for safety might be prudent. Currently, BTC is approaching a resistance area, If the price breaks 35350 level then we can expect another potential bullish surge toward the 38384 and 40511 Euro levels, which is close to the psychological threshold of 40k Euro. To identify potential selling opportunities, we should look for the formation of an M or head and shoulder pattern, followed by a breakdown below the 31422 Euro level, potentially leading to targets at 30036 and 28972 Euro.

Ethereum (ETH) Analysis

ETH/Euro has successfully achieved our all previous targets, showcasing a solid performance. Presently, it is going near a resistance area around 1820 Euro. In my view, it might be wise to avoid considering ETH for any bullish movements at the moment. Instead, it would be better to wait for the formation of an M or head-and-shoulder pattern. If such a pattern emerges, it could signal an opportunity to consider taking a bearish position with a small position size. For this shift, we would need to observe a breakdown below the 1741 Euro level, potentially leading to a decline in price towards the 1693 and 1661 Euro levels.

MultiversX (EGLD) Analysis

EGLD/Euro has broken out of the previous resistance area, although it hasn’t yet reached our 1st target. For safety of the position, it would be better for you to consider placing your stop-loss at the breakeven. Alternatively, you may choose to secure some gains by booking a small profit. On the bearish side, our focus rests on a potential breakdown below the 24.95 Euro level. Such a development would likely trigger the stop-loss orders of traders who entered the market on the breakout. If this scenario unfolds, our anticipated targets would be 23.49 and 22.55 Euro.

Loopring (LRC) Analysis

LRC/Euro is currently shaping a W pattern with a bullish divergence in MACD, enhancing the likelihood of a bullish movement. To confirm this potential uptrend, our focus is on a breakout above the resistance level of 0.1938 Euro. If this breakout happens, it could open the way for further gains, with our anticipated targets set at 0.2100 and 0.2236 Euro.

Axie Infinity (AXS) Analysis

AXS/Euro is following a similar price action to LRC, forming a W pattern with bullish divergence. To potentially witness further bullish momentum, our focus lies on a breakthrough above the resistance level of 4.78 Euro. In the event of a successful breakout, our projected targets would be 5.15 and 5.42 Euro.

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