Crypto Market update and analysis for BTC, ETH, EGLD, SUI and DOGE - March 14, 2024
Crypto Market in the last 24h:
💰 Global Market Cap: $2.71T, -0.33%
📉 Total Volume: $136.52B, -14.66%
🔗 DeFi Volume: $12.93B, -9.47%
💲 Stablecoin Volume: $121.71B, -89.15%
🅱️ Bitcoin Dominance: 52.00%, -0.19%
Bitcoin (BTC) Analysis
BTC/USD shows a bullish sign with channel & W pattern formation. To confirm this pattern, we’ll be looking for a breakout above the level of 73818 USD. If the price successfully breaks above this level, it could signal upward movement, reaching targets around 74458 USD and 74980 USD. It’s worth noting that Bitcoin may experience sudden downward spikes, so it’s crucial to exercise caution and manage stop-loss orders accordingly to mitigate risk.
Ethereum (ETH) Analysis
ETH/USD we’ve noticed the formation of an M pattern, which often tricks beginner traders into selling. However, there’s an interesting twist here: below this pattern lies a supportive trendline that could push the price upward, trapping those who entered based on the M pattern. We might consider entering a position if the price breaks above the level of 4103 USD. This breakout could trigger stop-loss orders of those who sold, potentially leading to a rise towards the targets around 4204 USD and 4274 USD.
MultiversX (EGLD) Analysis
EGLD/USD we’ve observed the formation of a cup and handle pattern. Despite this pattern emerging at a high level, it’s worth considering due to the overall bullish sentiment in the market. If the price breaks out above the level of 78.83 USD, it could signal a continuation of the upward trend, potentially leading to targets around 89.82 USD and 100 USD.
SUI (SUI) Analysis
SUI/USD we’ve spotted the formation of an inverse head and shoulders pattern. If the price manages to break out above the level of 1.731 USD, it could indicate a confirmation of the pattern. In that case, we might anticipate targets around 1.915 USD and 2.106 USD.
Dogecoin (DOGE) Analysis
DOGE/USD formed a bull flag and a W pattern. These patterns often indicate a potential bullish continuation. However, to confirm this bullish outlook, we’ll need to see a breakout above the level of 0.1959 USD. If the price manages to breach this level, it could signal further upward momentum, with potential targets around 0.2215 USD and 0.2514 USD.
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