The bulls are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $2.28T as of press time, representing a 0.44% increase over the last 24 hours, while the trading volume dropped by 56.15% over the same period to stand at $45.07B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has posted minor gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that The BTC/USD chart shows a significant upward trend as the price has recently broken above the Ichimoku cloud, indicating a bullish signal. The recent candles are above both the baseline (red) and the conversion line (blue), which supports this bullish sentiment. The green cloud projected ahead also suggests a continuation of the bullish trend.Â
Additionally, the high value in the Money Flow Index (MFI) at 91.12 indicates strong buying pressure, although it also suggests the market may be approaching overbought conditions. Bitcoin traded at $70.944 as of press time, representing a 3.57% 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 ETH/USD is currently testing resistance near the 100-day SMA (yellow line) after a steady upward movement. The 50-day SMA (blue line) crossing above the 200-day SMA (green line) could be interpreted as a bullish ‘Golden Cross’ signal, suggesting potential for further upside if the price consistently holds above these averages.Â
However, the Average Directional Index (ADX) value of 27.91 shows a moderate trend strength, which might mean the price movement could lack sustained momentum. Ethereum traded at $2,614 as of press time, representing a 3.77% increase over the last 24 hours.
Bitcoin SV Price Review
Bitcoin SV, $BSV, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the BSV/USDT pair has recently witnessed a sharp rise, now testing the upper Bollinger Band, which typically serves as a resistance level. The Bitcoin SV price movement above the 20-day SMA (middle line of the Bollinger Bands) and the increasing distance between the bands indicate rising volatility and bullish momentum.Â
On the other hand, we see that the Awesome Oscillator showing a green bar further supports this bullish outlook, signaling increasing buying interest. Bitcoin SV traded at $52.66 as of press time, representing a 14.24% increase over the last 24 hours.
Ethena Price Review
Ethena, $ENA, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that ENA/USDT shows a recent upward price correction crossing above all three moving averages of the Alligator indicator (green, red, and blue lines). This could suggest the end of a resting phase and the start of a buying trend.
On the flip side, the increase in the Money Flow Index (MFI) to 68.35 further supports this bullish sentiment, indicating growing buying pressure. Ethena traded at $0.3894 as of press time, representing a 17.67% increase over the last 24 hours.
Dogecoin Price Review
Dogecoin, $DOGE, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that DOGE/USDT is exhibiting a strong bullish trend, as indicated by the Supertrend indicator turning green below the price. The recent spike in price has pushed it above the Supertrend line, reinforcing the bullish signal.
On the other hand, we see that the MACD is also showing increasing bullish momentum as the MACD line (blue) has crossed above the signal line (orange) and the histogram is expanding, indicating growing bullish intensity. Dogecoin traded at $0.1644 as of press time, representing a 14.3% increase over the last 24 hours.
