Crypto Market Insights: BTC, ETH, EGLD, MATIC, KSM Analysis in the Last 24 Hours

Crypto Market in the last 24h

💰 Global Market Cap: $1.66 trillion (+1.92%)
📊 24h market volume: $48.34 billion (+20.59%)
🚀 DeFi volume: $4.51 billion (9.33% of total)
💲 Stablecoins volume: $43.47 billion (89.93% of total)
🌐 Bitcoin dominance: 51.04% (+0.16%)

Bitcoin (BTC) Analysis

BTC/USD is trying to trap sellers who believe it has reached its peak. The formation of an inverse head and shoulders pattern with a bullish divergence in MACD suggests a potential bullish reversal. However, professional traders await confirmation, which would materialise with a breakout above the critical level of 43440 USD. Once confirmed, this pattern could lead to targets at 46038 USD and 47414 USD.

Ethereum (ETH) Analysis

ETH/USD is currently forming a bearish flag and pole pattern in the 4-hour timeframe. It is recognised as a trend continuation formation. Because the trend is bearish in this timeframe, it increases the probability of downward movement. Confirmation of this scenario would involve a breakdown below the crucial level of 2233 USD. In the event of such a breakdown, potential targets could be identified at 2190 USD and 2148 USD.

MultiversX (EGLD) Analysis

EGLD/USD is presenting the formation of a W pattern with bullish divergence. The W pattern signifies a potential shift in momentum, highlighting a weakening grip of bears, while bullish divergence underscores the strength of the bulls. To validate this bullish setup, we are advised to watch for a breakout above the crucial level of 55.55 USD. Once confirmed, this pattern could show the price towards targets at 60.14 USD and 65.85 USD.

Polygon (MATIC) Analysis

MATIC/USD is undergoing a notable shift in sentiment as it forms an inverse head and shoulders pattern, a classic bullish reversal indicator. This pattern, coupled with a bullish divergence on the MACD, suggests a potential turnaround in the market dynamics. We are advised to keep a close eye on the breakout above the crucial level of 0.811 USD. Once confirmed, this bullish setup could trigger a sequence of stop-loss hits among sellers who entered on the breakdown of the support zone, propelling the price towards targets at 0.872 USD and 0.912 USD.

Kusama (KSM) Analysis

KSM/USD is showing the breakout of the trendline, coupled with a bullish divergence on the MACD, signals a potential shift in market dynamics towards the bullish side. However, we are advised to exercise patience and await the confirmation of a breakout above the critical level of 40.48 USD. This cautious approach ensures a more reliable entry point for traders, who can then anticipate targets at 43.81 USD and 46.84 USD.

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