Market update and analysis for BTC, ETH, EGLD, AVAX and PEPE - July 1, 2024
Crypto Market in the last 24h:
🌐 Global Market Cap: $2.33T (+3.67%)
📊 Total 24h Volume: $53.06B (+51.80%)
💰 DeFi Volume: $3.78B (7.13% of total volume)
🔒 Stablecoins Volume: $49.17B (92.67% of total volume)
💵 Bitcoin Dominance: 53.59% (+0.19%)
Bitcoin (BTC) Analysis
BTC has broken out of a W pattern, indicating a potential bullish move. However, there is a resistance level above the current price that needs to be overcome for further bullish momentum.
For confirmation of continued bullish movement, the price needs to break out above the resistance level at 64,577 USD. This breakout can lead to targets of 66,573 USD and 68,941 USD.
Ethereum (ETH) Analysis
ETH is showing strong potential for a bullish move after breaking out of the descending channel and forming a W pattern. Watch for a breakout above 3,545 USD to confirm the bullish move, targeting 3,669 USD and 3,793 USD.
MultiversX (EGLD) Analysis
EGLD is showing strong potential for a bullish move after breaking out of the resistive trendline and forming a W pattern or triple bottom with bullish divergence. Watch for a move above 30.73 USD to confirm the bullish move, targeting 32.10 USD and 33.57 USD.
Avalanche (AVAX) Analysis
AVAX has broken out of a resistive trendline and formed an inverse head and shoulders pattern with bullish divergence. These factors increase the probability of a bullish move.
For confirmation of the bullish move, the price needs to break out above the level of 30.68 USD. This breakout can lead to targets of 33.99 USD and 37.27 USD.
Pepe (PEPE) Analysis
PEPE is showing strong potential for a bullish move after breaking out of the descending channel and forming an inverse head and shoulders pattern with bullish divergence. Watch for a breakout above 1,276 USD to confirm the bullish move, targeting 1,387 USD and 1,493 USD.
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