Today’s market session has started with bulls on the front foot as seen from the rising global market cap. The total global market cap stood at $2.5T as of press time, representing a $1.82% increase over the last day while the global trading volume dropped by 19% over the same period.
Bitcoin Price Review
Bitcoin (BTC) is still going through a consolidation phase, heading back below $66K. The recent [ccpw id=60415] price is trending below the 20-period Simple Moving Average (SMA), indicating a bearish signal. The bands are widening, which often signifies increased market volatility.Â
The Moving Average Convergence Divergence (MACD) indicator below shows a bearish crossover, with the MACD line crossing below the signal line, and the histogram bars below the baseline, suggesting downward momentum. The Bitcoin price stood at $65,768 as of press time, representing a 0.9% drop from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) is also in a consolidation phase today as evidenced by its minimal price movements. Looking at an in-depth analysis, we notice that the Ethereum price trending below the cloud, which is bearish. The red cloud ahead suggests that there might be resistance in the future, making upward movement challenging. The blue line (Kijun-sen) is above the red line (Tenkan-sen), reinforcing the bearish sentiment.
The Money Flow Index (MFI) is around 28.58, near the oversold region, potentially indicating an upcoming relief or a reversal if other signals confirm. The [ccpw id=60480] price stood at $3,310 as of press time, representing a 0.05% decrease from its previous 24-hour price.
Flare Price Review
Flare (FLR) is among the top gainers again as the token posted remarkable gains in today’s session. We notice the Flare price below the Supertrend line, indicating a bearish phase. The chart shows a significant spike and recovery in recent periods, which could indicate a period of high volatility or low liquidity.
The MFI is high at 74.35, suggesting that the asset may be overbought, which could precede a downturn if the trend continues. The Flare price stood at $0.04153 as of press time, representing a 5.6% increase from its previous 24-hour price.
Bitcoin SV Price Review
Bitcoin SV (BSV) is another gainer today, posting notable gains as well. The Bitcoin SV price is currently intertwined with the Alligator’s lines, suggesting a lack of clear trends or a consolidating market. The Average Directional Index (ADX) below is at 25.41, which indicates a weak trend.
On the flip side, the three Alligator lines (Jaw, Teeth, and Lips) are quite tangled, suggesting a possible sideways market without a clear direction. The Bitcoin SV price stood at $94.08 as of press time, representing a 6.8% increase from its previous 24-hour price.
Monero Price Review
Moner (XMR) has also made it to the gainers list, posting notable gains in today’s session. The Monero price has just broken out of the pitchfork to the upside, which could suggest a bullish reversal or a break of the previous trend.
The Awesome Oscillator (AO) shows growing bullish momentum, as the bars are increasing in height above the zero line, which supports the breakout observation. The Monero price stood at $130.5 as of press time, representing a 6.6% increase from its previous 24-hour price.
