The bulls are in total control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.17T as of press time, representing a 1.22% increase over the last 24 hours, while the trading volume dropped by 16.3% over the same period to stand at $58.7B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, is posting gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, the Supertrend is currently green, indicating a bullish trend. The price has consistently stayed above the Supertrend line, which provides support around $58,421.47. A break below this level might signal a potential trend reversal or a period of consolidation.
On the other hand, we see that the Money Flow Index (MFI) is at 73.02, which is in the overbought zone. This suggests that the asset might be overvalued in the short term, and a price correction could be on the horizon. Bitcoin traded at $61,084 as of press time, representing a 0.5% increase over the last 24 hours.
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 the Alligator’s jaws, teeth, and lips (the blue, red, and green lines) are wide apart, signaling a strong trend. The price is trading above the Alligator lines, suggesting that the market is currently in an uptrend.Â
On the other hand, we see that the Volume Oscillator is at 3.17%, indicating a slight increase in trading volume. Ethereum traded at $2,673 as of press time, representing a 1.5% increase over the last 24 hours.
BitTorrent Price Review
BitTorrent, $BTT, is correcting in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the BitTorrent price is currently above the Ichimoku Cloud, which is a bullish sign. The cloud provides support around 0.000000089, which might act as a safety net in case of a pullback.
On the other hand, we see that the Woodies CCI shows a reading of -11.7845, indicating a bearish momentum. BitTorrent traded at $0.069343 as of press time, representing a 3% decrease over the last 24 hours.
Avalanche Price Review
Avalanche, $AVAX, is among the gainers in today’s session. Looking at an in-depth analysis, we see that the Avalanche price is currently at the upper Bollinger Band, indicating that the asset might be overbought in the short term. The sharp rise towards the upper band suggests strong bullish momentum, but it also raises the possibility of a retracement to the mean (middle band).
On the other hand, we see the Volume Oscillator is at 8.35%, showing a significant increase in trading volume. Avalanche traded at $25.77 as of press time, representing a 10.8% increase over the last 24 hours.
Core Price Review
Core, $CORE, is also among the gainers is also among the gainers in today’s session. The chart shows a falling wedge pattern, which is a bullish reversal pattern. The price has broken out of the wedge, and the target price is set at $1.1350. The breakout suggests that the asset could see further upward movement toward this target.
On the other hand, we see that the Volume Oscillator is at 32.90%, indicating a sharp increase in trading volume. Core traded at $1.15 as of press time, representing a 10.8% increase over the last 24 hours.
