Daily Market Revie: BTC, ETH, WIF, BTT, DOGE

Markets have started on minor bullish activity today as seen by the slight increase in the global market cap which has risen by 0.5% over the last 24 hours to stand at $2.65T as of press time, while the trading volume also saw a 14% increase within the same period to stand at $120.5B.

Bitcoin Price Review 

Despite today’s minor bull activity,

still faces consolidation in its market as it posts minimal gains in today’s session. The Bitcoin price is trading near the upper Bollinger Band, suggesting it’s in the higher price range relative to recent volatility. However, its movement towards a cross-over below the middle SMS suggests bearish activity on the crypto king.

This is supported by the Relative Strength Index indicator, which is currently moving south suggesting bearish activity on the token. The Bitcoin price stood at $69,901 as of press time representing a 0.72% drop from its previous 24-hour price.

Ethereum Price Review

Ethereum (ETH) is facing bear activity today as evidenced by its price drop. However, despite the drop,  we see the ‘Supertrend’ indicator applied, combining the average true range and the moving averages to determine the trend’s direction. The

price is now above the supertrend line, indicating a bullish trend in the price despite today’s drop.

On the other hand, the MACD indicator also reverts towards the zero line, showing fading momentum from bearish to bullish.  The Ethereum price stood at $3,521 as of press time representing a 1.3% drop over the last 24 hours.

Dogwifhat Price Review

Dogwifhat (WIF) is today’s top gainer as the Solana meme coin again takes center stage. Looking at an in-depth analysis, we notice the Dogwifhat price has moved sharply above all the Alligator lines (jaw, teeth, and lips), indicating a solid uptrend.  

On the other hand, the Awesome Oscillator, an indicator used in gauging trends, is changing from red to green, indicating a change in momentum from bearish to bullish. The Dogwifhat price stood at $3.69 as of press time representing a 19.27% pump over the last 24 hours.

BitTorrent Price Review

BitTorrent (BTT) is the second top gainer in today’s session as it also posted notable gains. Looking at an in-depth analysis, the BitTorrent price is at the upper end of the pitchfork, which could be seen as an area of resistance. 

The Average Average Directional Index (ADX) is at 28, showing a strong trend on the BitTorrent price. The BitTorrent price stood at $0.000001635 as of press time representing a 8.2% pump over the last 24 hours.

Dogecoin Price Review

As shown by its rise today, Dogecoin (DOGE) is today’s third top gainer. The

price is above the Ichimoku cloud, which is bullish, and it is also above the baseline (kijun-sen) and the conversion line (tenkan-sen), reinforcing the bullish sentiment. 

The MACD indicator is however headed back towards the red zone, suggesting fading bullishness on the meme coin leaving out the possibility of a correction. The Dogecoin price stood at $0.216 as of press time representing a 10% pump over the last 24 hours.