Markets are still facing much conciliation ahead of the recent altcoin pumps as seen from the global market cap. The global market cap has recorded a 0.26% increase in the last 24 hours to stand at $2.48T as of press time while the trading volume dropped by 35% to $165B.
Bitcoin Price Review
Bitcoin (BTC) is now facing consolidation ahead of its recent impressive pump. The chart has shown a strong uptrend with higher highs and higher lows in the last few days. The Bitcoin price is however still above the Bollinger Band SMA, which could indicate that the [ccpw id=60415] is currently seeing minor bull activity. The widening of the bands suggests increased market volatility.
The Awesome oscillator has however shifted its histograms from red to green as they decrease in size suggesting a weak bullish trend. Should the AO keep up this trend, a further dip in the short term is likely. The Bitcoin price stood at $66.4K as of press time representing a 0.07% pump in the last 24 hours.
Ethereum Price Review
[ccpw id=60480] is also facing minor consolidation ahead of the market behavior. Looking at the Ethereum price action, we notice a period of indecision, attributed to the mix-up in green and red candle stick patterns. The recent Ethereum price action has turned the Supertrend indicator from bearish (red) to bullish (green), suggesting a possible trend reversal to the upside.
The Money Flow Index (MFI) is at 66 suggesting some buying pressure on Ethereum. However, its southern trajectory could mean decreasing buying pressure hence a likely bear run shortly. The Ethereum price stood at $3806 as of press time representing a 0.6% drop in the last 24 hours.
Fetch.ai Price Review
Fetch.ai (FET) has again emerged as the top gainer as seen from its impressive run today. The Relative Strength Index is currently in the overbought region showing great bull pressure. However, overbought conditions caution about possible corrections on the Fetch.ai price in the short term.
The MACD indicator is also in the green zone suggesting that bulls are in control of the markets ahead of the price action today. The Fetch.ai price stood at $2.74 as of press time representing a 36% pump in the last 24 hours.
Render Price Review
Render (RNDR) is today’s second gainer. Render charts show an uptrend, bullish momentum similar to Render. The lines of the Alligator indicator are aligned with the green line (lips) above the red (teeth) and blue (jaw) lines, which indicates a bullish trend.
The Average directional index is now at 30 indicating that the current trend is relatively strong. Amid this impressive surge, the Render price stood at $9.73 as of press time representing a 31% pump in the last 24 hours.
Near Protocol Price Review
Near Protocol (NEAR) is the third and our last gainer of the day. The Near Protocol price action shows an uptrend with the price within an ascending channel, a bullish pattern. The Near Protocol price is above the upper half of the pitchfork, indicating that buyers are in control.
The Money Floe Index is now exiting the overbought region suggesting emerging selling pressure. The recent series of red candle sticks supports this with the Near Protocol price now standing at $5.63 as of press time representing a 25.7% pump.
