The bulls are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $3.29T as of press time, representing a 3.41% increase over the last 24 hours, while the trading volume jumped by 19.4% over the same period to stand at $243.3B 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, we see that the 4-hour chart shows a strong uptrend as the price is well above the 50, 100, and 200 Simple Moving Averages (SMA). The moving averages are sloping upwards, confirming bullish momentum.
On the other hand, we see that the RSI (Relative Strength Index) is hovering near 70, indicating overbought conditions. This suggests a potential short-term pullback or consolidation before another leg upward. Bitcoin traded at $98,636 as of press time, representing a 1.2% increase over the last 24 hours.
4-hour BTC|USD Chart | Source: TradingView
Ethereum Price Review
Ethereum, $ETH, 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 Ethereum is trading near the upper Bollinger Band, indicating a strong bullish trend. Price action shows a breakout from consolidation.
On the other hand, we see that the MFI (Money Flow Index) is at 85, signaling overbought conditions. This may result in reduced buying momentum. Ethereum traded at $3,379 as of press time, representing a 7.62% increase over the last 24 hours.
4-hour ETH/USD Chart | Source: TradingView
Ripple Price Review
Ripple, $XRP, is also among the top gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis XRP is showing a clear uptrend with the price trading above the Ichimoku Cloud. The Leading Span A and B of the cloud are bullish.
On the other hand, we see that the Awesome Oscillator shows positive momentum is evident, with green bars increasing in size. Ripple traded at $1.39 as of press time, representing a 23.11% increase over the last 24 hours.
4-hour XRP/USD Chart | Source: TradingView
Optimism Price Review
Optimism, $OP, 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 Alligator indicator shows a bullish crossover as the green moving average is above the red and blue lines. This suggests a continuation of the upward trend.
On the other hand, we see that the ADX (Average Directional Index) is at 26, confirming a strengthening trend. Optimism traded at $2.14 as of press time, representing a 26.06% increase over the last 24 hours.
4-hour OP/USD Chart | Source: TradingView
Stellar Price Review
Stellar, $XLM, 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 Stellar is in a strong uptrend with price action above the Supertrend indicator, indicating bullish momentum.
On the other hand, we see that the Volume Oscillator shows a negative volume divergence (-14%) which suggests that the rally could be losing steam. Stellar traded at $0.2827 as of press time, representing a 14.63% increase over the last 24 hours.
