On April 27, the Total Crypto Market Cap (TOTALCAP) and Bitcoin (BTC) had significant volatility, and MultiversX (EGLD) broke out from diagonal resistance. Stablecoin issuer Circle launched a cross-chain transfer protocol, enabling USDC to move across networks. Yesterday’s crypto market volatility caused $350 million in liquidations. TOTALCAP reached the 0.618 Fib retracement resistance at $1.20 trillion before falling but then causing another bounce at the $1.10 trillion support area. If the price breaks out, the next resistance will be at $1.25 trillion, and if it gets rejected, a drop to $1.10 trillion could occur.
Bitcoin reached the 0.618 Fib resistance before falling but nearly reached the resistance line again. If BTC breaks out, the next resistance will be at $30,500. Still, if it gets rejected again, it could drop to $27,000. MultiversX (EGLD) broke out from the descending resistance line that had been in place since Feb. 16, but as of yet, has not reached a close above the line. If the breakout is confirmed, EGLD could increase to the next resistance at $55. However, if the price falls below the resistance line, a drop to $38 could occur. This article is for informational purposes only and should not be considered financial or investment advice.