Crypto Market update and analysis for BTC, ETH, EGLD, SOL and FIL - March 29, 2024
Crypto Market in the last 24h:
📊 Global Market Cap: $2.63T (-0.96%↓)
📉 Total Volume 24h: $94.32B (-21.38%↓)
🔗 DeFi volume: $8.78B (9.30% of total volume)
💵 Stablecoins volume: $83.95B (89.00% of total volume)
🅱️ Bitcoin dominance: 52.12% (-0.17%↓)
BTC (Bitcoin) Analysis
For BTC/USD, we’re seeing a bullish trend, with an interesting pattern called a flag and pole formation. This pattern often indicates a continuation of the existing bullish trend. However, to confirm this pattern, we’re looking for a breakout above 71,799.98 USD. If the price breaks above this level, it could signal further upward movement, with potential targets around 74,112.98 USD and 75,819.98 USD.
ETH (Ethereum) Analysis
For ETH/USD, there’s a bullish trend underway, and we’ve spotted an inverse head and shoulders pattern. This pattern often indicates a potential bullish reversal. However, to confirm this pattern, we’re waiting for a breakout above 3,684.98 USD. If the price manages to break above this level, it could signal further upward movement, with potential targets around 3,919.98 USD and 4,100.98 USD.
EGLD (MultiversX) Analysis
EGLD/USD has broken the trendline & formed a head and shoulders pattern. This pattern typically indicates a potential bearish reversal. Right now, the crucial level to watch is 58.86 USD. If the price breaks below this level, it could trigger further downward movement, with potential targets around 56.94 USD and 55.32 USD.
SOL (Solana) Analysis
SOL/USD is in a bullish trend with the formation of a cup and handle pattern. This pattern often suggests a continuation of the bullish trend. To confirm this pattern, we’ll be watching for a breakout above the level of 196.98 USD. If the price manages to surpass this level, it could signal further upward movement, with potential targets around 208.98 USD and 220.98 USD.
FIL (Filecoin) Analysis
For FIL/USD, we’ve observed a breakout of a trendline, coupled with the formation of an inverse head and shoulders pattern. To confirm this pattern, we’ll be looking for a breakout above the level of 9.87 USD. If the price manages to exceed this level, it could signal further upward momentum, with potential targets around 10.79 USD and 11.67 USD.
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