Today’s market session has started with bulls on the front foot as seen from the rising global market cap which has seen a 1.4% increase over the last 24 hours to stand at $2.68T as of press time while the trading volume rose by 3% to $68.3B as of press time.
Bitcoin Price Review
Bitcoin (BTC) is still facing consolidation as seen from its drop below $70K once again. Looking at [ccpw id=60415] charts, we notice that the Bitcoin price seems to be experiencing a downward trend as it moves along the lower band of the Bollinger Bands, which could suggest a bearish sentiment.
On the other hand, the Relative Strength Index (RSI) is around 46, which is below the midpoint of 50 but not yet in the oversold region (below 30). This suggests that there might be some bearish momentum, but it’s not excessive. The Bitcoin price stood at $69,590 as of press time, representing a 0.95% drop from its previous 24-hour price.
Ethereum Price Review
Despite the generally bullish sentiment, Ethereum (ETH) has also failed to post gains in today’s session. Analysing [ccpw id=60480] charts, we notice that the Ethereum price is currently above the Ichimoku Cloud, indicating that it is in a bullish trend.
The MACD line is above the signal line but appears to be converging, suggesting that the bullish momentum might weaken. The Ethereum price stood at $3,547 as of press time, representing a 2.19% decrease from its previous 24-hour price.
Core DAO Price Review
Core DAO (DAO) is today’s top gainer as it managed notable gains. Analysing Core DAO price charts, we notice that the Core DAO price is in a strong uptrend, significantly above the Alligator’s jaws, denoting strong bullish momentum.
Conversely, the Woodies CCI is above the zero line, reinforcing the strong upward price movement. The Core DAO price stood at $2.81 as of press time, representing a 67.9% increase from its previous 24-hour price.
Jupiter Price Review
Jupiter (JUP) is today’s second top gainer as it also posted notable gains in today’s session. Looking at an in-depth analysis of Jupiter’s charts, we notice that the Jupiter price is above the Supertrend line, indicating a bullish trend.
On the flip side, looking at the Awesome Oscillator (AO), an indicator used to gauge trends, shows increasing green bars, which suggests growing bullish momentum. The Jupiter price stood at $1.82 as of press time, representing a 21.4% increase from its previous 24-hour price.
Bitcoin Cash Price Review
Bitcoin Cash (BCH) emerged as today’s third top gainer, posting notable gains. Looking at BCH charts, we notice that the Bitcoin Cash price action is within the upper half of the pitchfork, showing a positive trend.
On the other hand, the Money Flow Index (MFI) is quite high at around 79, near the overbought region (above 80), suggesting that there could be a pullback if the market perceives Bitcoin Cash as overvalued. The Bitcoin Cash price stood at $688.70 as of press time, representing a 16.3% increase from its previous 24-hour price.
