Bulls still have control of the markets as seen from the increase in global market cap within the last 24 hours. The Global market cap saw a 4.7% increase within the last 24 hours to stand at $2.51T as of press time while the trading volume saw a 77% increase within the same period to stand at 197.16B.
Bitcoin Price Review
Looking at the 4-hour BTC/USD charts, we notice [ccpw id=60415] is trading near the upper band, suggesting strong upward momentum. However, we now notice the formation of red candle sticks in the end which could signify a changing trend.
Looking at the MACD, we notice that it is also headed back toward the zero line suggesting fading bullish momentum. The Bitcoin price stood at $67K as of press time, representing a 4% pump in the last 24 hours as the crypto king surges again.
Ethereum Price Review
Ethereum (ETH) has also managed some noticeable gains today as the Supertrend indicator is below the Ethereum price (AR) and green in color, suggesting a bullish trend. The [ccpw id=60480] has been in an uptrend as shown by the consistent higher highs and higher lows over the period displayed.
On the flip side, we notice that the CCI line (turquoise) is above the signal line (red), which typically suggests bullish momentum. However, the lines are now converging towards the average line which could suggest a trend reversal or looming corrections. The Ethereum price stood at $3689 as of press time representing a 5.2% pump in the last 24 hours.
eCash Price Review
The eCash (XEC) price has been following an upward trend as indicated by the Alligator indicator, which is a collection of moving averages that suggest a bullish trend when the green line (lips) is above the red line (teeth) and the blue line (jaw). The ADX is currently at a value of 48, which indicates a strong trend. Generally, an ADX value above 25 suggests that the market is trending, and the higher the value above 25, the stronger the trend.
However, despite indicators pointing towards a strong bullish streak, the recent change in pattern to form a bear candle could serve as a bear warning for possible corrections. The eCash price stood at $0.00007322 as of press time, representing a 68% pump in the last 24 hours as the token emerged as today’s top gainer.
Shiba Inu Price Review
Shiba Inu (SHIB) is today’s second top gainer as the chart shows that the [ccpw id=65913] has exited the upper half of the pitchfork, suggesting that the Shiba Inu price is currently on a strong uptrend. However, the latest candle stick has turned bearish also calling for caution of a possible trend reversal.
The Money Flow Index (MFI), which is at 82, is the overbought zone. This indicates massive buying pressure, supporting today’s pump. However, the overbought conditions in the market emphasize the risks of a correction. The Shiba Inu price stood at $0.00003904 as of press time, representing a 47.1% pump in the last 24 hours.
Theta Network Price Review
Theta Network (THETA) is today’s third and last token in today’s list. Theta Network’s RSI value is around 86, indicating that the token is overbought. Overall, the trend appears bullish, with higher highs and higher lows. However, despite the strong bull trend, the RSI’s overbought conditions could signify a correction in the short term.
The Awesome Oscillator, used in gauging trends, has shifted back to green histograms as they increase their height, indicating a strong bullish trend. The Theta Network price stood at $3.19 as of press time, representing a 37% pump in the last 24 hours.
