Market update and analysis for BTC, ETH, PEPE, XRP and AAVE - September 19, 2024
Crypto market in the last 24h:
🌐 Global market cap: $2.15T (+3.13%)
📊 24h total volume: $95.34B (+23.60%)
💰 DeFi volume: $4.68B (4.90% of total volume)
🔒 Stablecoin volume: $87.26B (91.52% of total volume)
💵 Bitcoin dominance: 57.08% (-0.23%)
Bitcoin (BTC) Analysis
BTC has shown faster selling pressure in the past, but the current price consolidation suggests that bulls may be preparing for a significant move. The overall probability of a bullish move appears higher due to the emerging bull flag structure. For confirmation of this bullish outlook, a candle closing above the resistance zone of 78,336 USD is required, which could then target 100,000 USD and 150,000 USD.
Ethereum (ETH) Analysis
ETH has formed a W pattern, which increases the probability of a bullish move. However, for confirmation, we need a breakout and candle closing above the resistance zone of 2,429 USD. If this occurs, it could lead to potential targets of 2,470 USD and 2,519 USD.
Pepe (PEPE) Analysis
PEPE has formed a W pattern with bullish divergence, which increases the probability of a bullish move. However, for confirmation, we need a breakout and candle closing above the resistance zone of 0.00000782 USD. If this happens, the potential targets are 0.00000819 USD and 0.00000855 USD.
Ripple (XRP) Analysis
XRP is currently in consolidation, offering opportunities for both bullish and bearish scenarios. On the bullish side, if the price breaks and closes a candle above the resistance zone of 0.5988 USD, it will confirm a W pattern, potentially leading to targets of 0.6111 USD and 0.6231 USD. On the bearish side, if the price breaks down and closes a candle below the support zone of 0.5604 USD, it could trigger a breakdown of a triple top pattern, with potential targets of 0.5523 USD and 0.5440 USD.
AAVE (AAVE) Analysis
AAVE has formed a descending channel following a bullish move, which can also be considered a bull flag pattern. For confirmation of this pattern, a breakout and candle closing above the resistance zone of 150 USD is required. If confirmed, potential targets are 155 USD and 160 USD.
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