Market update and analysis for BTC, ETH, EGLD, AAVE and SUI

Crypto Market in the last 24h:

🌐 Global market cap: $2.25T (-1.10%)
📊 Total 24h volume: $56.35B (-12.28%)
💰 DeFi volume: $4.2B (7.45% of total volume)
🔒 Stablecoins volume: $51.99B (92.25% of total volume)
💵 Bitcoin dominance: 53.33% (-0.07%)

Bitcoin (BTC) Analysis

BTC might be poised for a pullback, and the bias is bullish. For confirmation, we need to see bullish patterns, such as a W pattern. A breakout above the resistance zone at 62,494 USD would be considered a Change of Character (CHoCH) towards the bullish side.

For confirmation of this bullish scenario, the price needs to break out above the resistance zone of 62,494 USD. This breakout would likely lead to gains towards the targets of 63,461 USD and 64,412 USD.

Ethereum (ETH) Analysis

ETH is currently at a critical juncture, offering opportunities for both bullish and bearish moves. Watch for a breakout above 3,425 USD to confirm the bullish W pattern, targeting 3,459 USD and 3,489 USD. Conversely, a breakdown below 3,337 USD will confirm the bearish M pattern, targeting 3,310 USD and 3,287 USD.

MultiversX (EGLD) Analysis

EGLD is currently following a resistive trendline. If the price breaks this trendline and the resistance zone at 30.73 USD, it will be considered a bullish signal.

For confirmation of this bullish move, the price needs to break out above the resistance zone of 30.73 USD. This breakout can lead to targets of 32.151 USD and 33.46 USD.

Aave (AAVE) Analysis

AAVE is showing potential for a bullish reversal due to the inverse head and shoulders pattern. Watch for a breakout above 94.63 USD to confirm the bullish move, with targets at 102.73 USD and 108.29 USD.

Sui (SUI) Analysis

SUI is looking bearish due to the formation of an M pattern. However, confirmation is needed to validate this bearish outlook.

For confirmation of the bearish move, the price needs to break down below the level of 0.81835736 USD. This breakdown can lead to targets of 0.78760615 USD and 0.75972018 USD.

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