Crypto Market update and analysis for BTC, ETH, EGLD, SUI and AAVE - April 15, 2024
Crypto Market in the last 24h:
📊 Global market cap: $2.42T (+3.81%)
📉 Total volume 24h: $117.91B (-31.35%)
🔗 DeFi volume: $10.39B (8.81% of total volume)
💱 Stablecoins volume: $108.47B (92.00% of total volume)
🔝 Bitcoin dominance: 53.85%
Bitcoin (BTC) Analysis
We’ve observed the formation of a W pattern in BTC, indicating a potential reversal from a bearish to a bullish trend. This pattern often acts as a bear trap, especially after a breakdown of previous lows and supportive trendlines. To confirm this bullish scenario, we’ll be closely watching for a breakout above the level of 66,288 USD. Once this breakout occurs, it could signal the beginning of a bullish momentum, with potential targets at 68,536 USD and 70,450 USD.
Ethereum (ETH ) Analysis
ETH is showing a formation of a cup and handle pattern, a bullish sign indicating a potential bullish move. To confirm this pattern, we’re looking for a breakout above the level of 3,236 USD. Once this breakout occurs, it could pave the way for further upward movement, with potential targets at 3,437 USD and 3,553 USD.
MultiversX (EGLD) Analysis
We’ve identified the formation of a W pattern in EGLD. We can also see a cup and handle pattern in this case. This setup suggests a potential bullish move ahead. Confirmation of this pattern would come with a breakout above the price level of 41.99 USD. If this breakout occurs, it could signal further upward momentum, with potential targets at 44.76 USD and 47.98 USD.
Sui (SUI) Analysis
SUI has formed an inverse head and shoulders pattern, indicating a potential reversal in the current trend. To confirm this pattern, we’ll be looking for a breakout above the level of 1.246 USD. If the price manages to surpass this level, it could signal further upward movement, with potential targets at 1.352 USD and 1.451 USD.
Aave (AAVE) Analysis
AAVE has formed a cup and handle pattern. To confirm this pattern, we’ll be looking for a breakout above the level of 91.47 USD. If the price successfully breaks above this level, it could indicate a further upward movement, with potential targets at 98.59 USD and 104.83 USD.
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