Crypto Market update and analysis for BTC, ETH, EGLD, PEPE and LTC - May 13, 2024
Crypto Market in the last 24h:
📊 Global market cap: $2.29T (+1.29%)
📈 Total 24h volume: $57.11B (+56.38%)
💼 DeFi volume: $5.47B (9.58% of total volume)
💰 Stablecoins volume: $52.34B (91.64% of total volume)
🅱️ Bitcoin dominance: 53.77% (+0.54%)
Bitcoin (BTC) Analysis
If the price of BTC manages to break above 64.719 USD, we might anticipate a bullish move. This breakout would confirm the presence of both the W pattern and the flag and pole pattern, potentially leading to targets at 67.690 USD, 70.287 USD, and 72.848 USD.
Ethereum (ETH) Analysis
For ETH, the formation of a bullish engulfing candlestick pattern could signal a bullish move ahead. However, for confirmation and a safer entry, we’ll need to see the price break above the level of 3.060 USD. This breakout could pave the way for targets at 3.190 USD and 3.325 USD.
MultiversX (EGLD) Analysis
For EGLD there’s a potential setup for a W pattern formation and there is also bullish divergence which is increasing the probability of a bullish move. If this pattern unfolds and the price manages to break above the resistance level at 43.37 USD, it could signal a bullish trend ahead. In such a scenario, traders might look for targets around the next resistance levels at 47.75 USD and 52.01 USD.
Pepe (PEPE) Analysis
PEPE has formed an inverse head and shoulders pattern. To confirm this pattern, traders will be watching for a breakout above the neckline, which in this case is at the level of 0.00000907 USD. If the price indeed breaks above this level, it could signal further bullish momentum, with potential targets around 0.00001059 USD and 0.00001281 USD.
Litecoin (LTC) Analysis
For LTC we are observing a W pattern, which often indicates a potential reversal from a downtrend to an uptrend. However, for this pattern to be confirmed, we need to see the price break above a key resistance level of 84.24 USD. This breakout above the resistance level confirms the W pattern & then we can expect the potential targets around 89.54 USD and 94.00 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.
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.