Crypto Market Analysis: Global Cap $1.65T, BTC and ETH Insights

Crypto Market evolution in the last 24 hours

💰 Global Cap: $1.65T (↓0.67%)
🔄 24h Volume: $43.87B (↑9.16%)
🌐 DeFi: $3.86B (8.79%)
💲 Stablecoins: $40.26B (91.77%)
🚀 Bitcoin Dominance: 51.18% (↓0.05%)

Bitcoin (BTC) Analysis

BTC/USD shows a bullish scenario on the chart, forming an inverse head and shoulders pattern with a bullish divergence in the MACD. This combination increases the probability of a bullish movement in the market. We should monitor the price action closely and look for confirmation, particularly if a 1-hour candle closes above the crucial level of 43,971.00 USD. Once confirmed, this breakout could open the way for potential targets around 46,281.00 USD and 47,562.00 USD.

Ethereum (ETH) Analysis

ETH/USD showed multiple breaks of Structures (BOS) and a noteworthy resilience as it successfully avoided breaking the previous low. These indicators suggest active participation from bulls in Ethereum. Additionally, there’s a notable W-shaped pattern forming. To confirm and capitalize on this potential bullish momentum, we should keep a close eye on the price action. A breakout above the critical level of 2,328.00 USD could trigger further upward movement, with targets set around 2,362.00 USD and 2,387.00 USD, reaching towards the previous highs.

MultiversX (EGLD) Analysis

EGLD/USD is in the confusing zone forming both an M pattern and a W pattern on its lower timeframe. We should closely monitor the critical levels for potential breakout scenarios.

If the price successfully breaks below the level of 51.43 USD, this could signal the completion of the M pattern. In such a scenario, we expect downside movement with targets set around 48.75 USD and 47.20 USD.

On the flip side, a breakout above the level of 54.37 USD could signify the validation of the W pattern. This would be considered a bullish move, and we can expect upward momentum with targets positioned around 55.90 USD and 56.63 USD.

Solana (SOL) Analysis

SOL/USD is catching my attention with its potential for a bullish move. In the 1-hour chart, it’s forming an inverse head and shoulders pattern, a bullish signal. Keep an eye on the breakout level at 107.06 USD; if this resistance gets broken then we could see targets around 120.67 USD and 129.78 USD.

Cardano (ADA) Analysis

ADA/USD is currently indicating a potential bearish move with a lower probability setup. The formation of an M pattern on the resistive trendline suggests a bearish signal. To confirm this pattern, we’ll be watching for a breakdown below the level of 0.484 USD. If this occurs, it could open the door to targets around 0.461 USD and 0.448 USD.

Do you agree with our analysis and interpretation of the market?
Want to learn more or have a different perspective?

Let's discuss it in the Tradesilvania community 👉 Telegram Group

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.