Crypto market in the last 24 hours:
📉 Global crypto market cap: €1.28T (⬇️2.16%),
📈 Total crypto market volume: €45.78B (⬆️73.31%),
💱 DeFi volume: €4.79B (10.45% of total volume),
💰 Stablecoins volume: €42.33B (92.46% of total volume),
👑 Bitcoin dominance: 51.55% (⬆️0.23%)
Bitcoin (BTC) Analysis
With the impending halving for BTC/EUR, historical data indicates a minor price correction before halving. There’s a supportive trendline in the price action that acts like a magnet, which can help the price to come down. Initiating Dollar-Cost Averaging (DCA) with a small percentage and gradually scaling up as it nears the support trendline could be a good strategy now.
We’re expecting substantial targets in the upcoming bullish phase, with the minimum goal set at the previous all-time high. There’s a sentiment in the market that this time, we might even surpass it.
Ethereum (ETH) Analysis
ETH/EUR presents a noticeable head and shoulders pattern unfolding in the 4-hour timeframe. For confirmation of this pattern, we’re looking for a breakdown and a candle closing below the critical level of €1,866.85.
If achieved, this could send the price toward the levels of €1,833.74 and €1,795.54.
MultiversX (EGLD) Analysis
EGLD/EUR recently encountered a head and shoulders pattern close to the resistant trendline, guiding the price downward. Currently, the price is forming lower lows. For confirmation of this bearish continuation, we’re closely watching for the price to dip below the level of €39.63 and close a candle below it. If this occurs, our expected targets are set at the levels of €38.05 and €37.05.
Cosmos (ATOM) Analysis
ATOM/EUR is currently forming an M pattern with a bearish divergence in the 1-hour timeframe, particularly at a resistant zone, signaling a bearish sentiment. To confirm this bearish outlook, we’ll be closely monitoring for a breakdown below the level of €8.53. If this occurs, our targets will be around €8.27 and €7.95.
Near Protocol (NEAR) Analysis
NEAR/EUR is currently forming a head and shoulders pattern in the 4-hour timeframe & also breaks down the 50 EMA, which acted as support in the past. For confirmation of the head and shoulders pattern, we’ll be closely watching for a breakdown below the level of €1.561. If this occurs, our projected targets are €1.433 and €1.322 according to this pattern.
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