The bulls are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $2.53T as of press time, representing a 2.62% increase over the last 24 hours, while the trading volume dropped by 6.65% over the same period to stand at $131.02B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has posted gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, the price is moving along the upper band, indicating a strong uptrend with potential overbought conditions. If BTC continues to stay near the upper band, it suggests sustained buying pressure. However, a pullback toward the middle band (20 SMA) may occur if buyers lose momentum.
On the other hand, we see that the ADX (Average Directional Index) value is 47.76, indicating a strong trend. As long as this stays above 25-30, the trend strength remains significant, favoring continued upward movement. Bitcoin traded at $76,073 as of press time, representing a 1.47% increase over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, has also posted gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the three Alligator lines (jaw, teeth, and lips) are widely spread, confirming a strong bullish trend as ETH remains above these lines. The alignment of green (lips), red (teeth), and blue (jaw) lines from top to bottom signals a well-established uptrend.
On the other hand, we see that the MFI (Money Flow Index) is at 91.73, indicating an overbought condition. This could lead to a temporary pullback if buying pressure wanes. Ethereum traded at $2,941 as of press time, representing a 4.7% increase over the last 24 hours.
Cronos Price Review
Cronos, $CRO, is also among the top gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Supertrend is bullish as it is below the current price level, offering support around 0.09199. This indicator suggests a strong upward trend as long as the price remains above this level.
On the other hand, we see that the Awesome Oscillator (AO) shows strong positive momentum with increasing green bars, reinforcing the upward trend. Cronos traded at $0.1098 as of press time, representing a 27.23% increase over the last 24 hours.
Cardano Price Review
Cardano, $ADA, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that ADA has recently broken above all three moving averages, with the 50 SMA acting as immediate support. This alignment indicates a trend shift to bullish as long as ADA remains above these SMAs.
On the other hand, we see that the RSI (Relative Strength Index) is at 88.30, showing overbought conditions. This suggests a potential short-term correction but doesn’t negate the overall bullish trend. Cardano traded at $0.4484 as of press time, representing a 19.92% increase over the last 24 hours.
Arweave Price Review
Arweave, $AR, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that AR has moved above the Ichimoku Cloud, a bullish signal, with the conversion line above the baseline. The cloud itself is green, supporting bullish momentum.
On the other hand, we see that the MFI is at 75.50, close to overbought levels. This could lead to a minor pullback or consolidation if buying pressure decreases. Arweave traded at $18.79 as of press time, representing a 14.77% increase over the last 24 hours.
