Market update and analysis for BTC, ETH, EGLD, MATIC and DOT - July 18, 2024

Market update and analysis for BTC, ETH, EGLD, MATIC and DOT - July 18, 2024

Crypto Market in the last 24h:

šŸŒ Global market cap: $2.37T (-1.16%)
šŸ“Š Total 24h volume: $73.97B (-18.22%)
šŸ’° DeFi volume: $4.66B (6.30% of total volume)
šŸ”’ Stablecoins volume: $68.25B (92.26% of total volume)
šŸ’µ Bitcoin dominance: 53.99% (+0.20%)

Bitcoin (BTC) Analysis

BTC/USD has shown a Change of Character (CHoCH) towards the bearish market structure. Currently, the price is near a crucial resistance zone. For confirmation, we need to observe bearish signals around the level of 66,608 USD. If the price rejects this resistance and shows signs of bearish reversal (such as CHoCH), a short position could be initiated with targets of 63,886 USD and 62,042 USD.

Bitcoin (BTC) Analysis

Ethereum (ETH) Analysis

ETH/USD hasvformed an M pattern with bearish divergence, increasing the probability of a bearish move. If the price breaks down below the 3,327 USD support level, it can signal further downside with targets of 3,281 USD and 3,235 USD.

Ethereum (ETH) Analysis

MultiversX (EGLD) Analysis

EGLD/USD has formed an inverse head and shoulders pattern, which is a bullish pattern. This increases the probability of a bullish move. The inverse head and shoulders pattern suggests a potential bullish move. If the price breaks out above the resistance level of 37.63 USD, it can signal further upside with targets of 38.94 USD and 40.13 USD.

MultiversX (EGLD) Analysis

Polygon (MATIC) Analysis

MATIC/USD has broken out of a resistive trendline and formed an inverse head and shoulders pattern at lower levels, increasing the probability of a reversal. If the price breaks out above the confirmation level of 0.585 USD, it could signal a bullish reversal, with potential targets at 0.652 USD and 0.712 USD.

Polygon (MATIC) Analysis

Polkadot (DOT) Analysis

DOT/USD has taken liquidity and formed a W pattern with bullish divergence, together increasing the probability of a bullish move. If the price breaks out above the confirmation level of 6.64 USD, it could signal a bullish reversal, with potential targets at 7.42 USD and 8.21 USD. This setup is strengthened by the bullish divergence, indicating that the underlying momentum supports an upward move.

Polkadot (DOT) Analysis

All  cryptocurrencies are available for trading on  Tradesilvania , and their prices can be seen on the Tradesilvania price page, accessible through the following link: https://tradesilvania.com/en/prices

With the help of our platform, you can deposit, withdraw, buy or sell any of these cryptocurrencies using the free digital wallet. SEPA Top-up (On-Ramp & Off-Ramp) Euro and RON instant transfers and over 100 cryptocurrencies, are all available in our app.

Join Tradesilvania community on Telegram
Click on the image

Limitation of Liability

This report issued by Tradesilvania is purely informative and is not intended to be used as a tool for making investment decisions in crypto-assets. Any person who chooses to use this report in the process of making investment decisions assumes all related risks. Tradesilvania SRL has no legal or other obligation towards the person in question that would derive from the publication of this report publicly.

The content provided on the Tradesilvania website is for informational purposes only and should not be considered as investment advice, financial advice, trading advice, or any other form of advice. We do not endorse or recommend the buying, selling, or holding of any cryptocurrency. It is important that you conduct your own research and consult with a financial advisor before making any investment decisions. We cannot be held responsible for any investment choices made based on the information presented on our website.

The information in this report was obtained from public sources and is considered relevant and reliable within the limits of publicly available data. However, the value of the digital assets referred to in this report fluctuates over time, and past performance does not indicate future growth.

Total or partial reproduction of this report is permitted only by mentioning the source.