The bulls are still in control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.15T as of press time, representing a 1.4% increase over the last 24 hours, while the trading volume dropped by 25.28% over the same period to stand at $65.14B as of press time.
Bitcoin Price Review
Bitcoin (BTC) is not among the gainers in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bitcoin price is currently in the middle of the Bollinger Bands, suggesting a neutral position. The price moving towards the upper band may indicate a bullish trend. Conversely, if it moves towards the lower band, it may indicate a bearish trend.
On the other hand, the RSI (Relative Strength Index) is around 53, which is in the neutral zone. This indicates that the market is neither overbought nor oversold, and there is no strong trend currently. As of press time, Bitcoin traded at $57,994, representing a 1.3% decrease over the last 24 hours.
Ethereum Price Review
Ethereum (ETH) also did not gain in today’s session, as seen from its price movements. An in-depth analysis shows that the Alligator’s Jaw (blue), Teeth (red), and Lips (green) are intertwined, suggesting a lack of a strong trend. If these lines start to fan out and align (green above red above blue), it could indicate an emerging trend.
On the other hand, the MFI (Money Flow Index) is around 54, indicating a neutral position with no strong buying or selling pressure. Ethereum traded at $3,104 as of press time, representing a 0.15% decrease over the last 24 hours.
Stacks Price Review
Stacks (STX) is among the gainers today, as seen from its price movements. An in-depth analysis shows a clear double-bottom pattern indicating a potential reversal of the previous downtrend. Based on the pattern’s height, the target of this pattern is projected higher. The Stacks price has broken above the neckline of the double-bottom pattern, confirming the bullish reversal.
On the other hand, the Woodies CCI (Commodity Channel Index) is positive, suggesting bullish momentum. As of press time, Stacks traded at $1.63, representing a 10.4% increase over the last 24 hours.
MANTRA Price Review
As seen from its price movements, MANTRA (OM) is among the gainers in today’s session. An in-depth analysis shows that the Mantra price is forming a rising wedge, which is generally considered a bearish pattern. A breakdown below the lower trendline of the wedge would confirm this bearish scenario.
On the other hand, we see that the Volume Oscillator is decreasing, which often accompanies a rising wedge and suggests weakening momentum. As of press time, MANTRA traded at $0.9622, representing a 2.53% increase over the last 24 hours.
Aave Price Review
As seen from its price movements, Aave (AAVE) is also a gainer in today’s session. An in-depth analysis shows that the Aave price is currently above the Ichimoku Cloud, indicating a bullish trend. The conversion line (blue) is above the baseline (red), reinforcing this bullish sentiment.
On the other hand, the RSI is around 65, nearing overbought territory but not quite there yet. This indicates strong bullish momentum, but caution is advised as it approaches the overbought zone. As of press time, Aave traded at $90.22, representing a 3.79% increase over the last 24 hours.
