The bears in control in today’s session, as seen from the decrease in the global market cap. The total cap stood at $2.12T as of press time, representing a 0.88% decrease over the last 24 hours, while the trading volume dropped by 29% over the same period to stand at $66B as of press time.Â
Bitcoin Price Review
Bitcoin, $BTC, is snow slowing down from its pump in today’s session, as seen from its price movements. Looking at an in-depth analysis, the Bitcoin price is testing the upper Bollinger Band, suggesting a potential breakout or a reversal. If the price breaks above the upper band with strong volume, it could signal a bullish continuation.Â
On the other hand, we see that the Awesome Oscillator (AO) shows positive momentum with green bars, indicating bullish pressure. However, the bars are slightly decreasing, hinting at a potential loss in momentum. Bitcoin traded at $60,528 as of press time, representing a 0.7% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, ETH, is also not a gainer in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Alligator’s lines are starting to converge after a recent downtrend, suggesting that the trend might be losing its strength. If the lines cross, it could signal the beginning of a consolidation phase or a trend reversal.
On the other hand, we see that the Money Flow Index (MFI) is at 68.44, nearing the overbought zone. This indicates that buying pressure is still present but might soon lead to a reversal or consolidation if the MFI crosses into the overbought territory. Ethereum traded at $2,625 as of press time, representing a 2.4% decrease over the last 24 hours.
Helium Price Review
Helium, $HNT, is a gainer in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that the Helium price is above the Ichimoku cloud, indicating a bullish trend. The Tenkan-sen (blue line) is above the Kijun-sen (red line), further supporting the bullish sentiment. However, the price is near resistance levels, as indicated by the upper boundary of the cloud.
On the other hand, we see that the Woodies CCI is above 100, showing strong bullish momentum. However, such high levels can also be a precursor to a correction or consolidation. Helium traded at $6.82 as of press time, representing a 13.8% increase over the last 24 hours.
Cronos Price Review
Cronos, $CRO, is among the gainers in today’s session as well as also seen from its price movements. Looking at an in-depth analysis, we see that the Cronos price is above the cloud, suggesting a bullish trend. The Tenkan-sen is above the Kijun-sen, supporting the bullish outlook. However, the price has recently faced resistance, as seen by the pullback after reaching the upper levels.
On the other hand, we see that the Woodies CCI has pulled back from overbought levels and is now near the +100 mark. This indicates a loss in bullish momentum and the potential for further downside or consolidation. Cronos traded at $0.09313 as of press time, representing a 9.32% increase over the last 24 hours.
Zcash Price Review
Zcash, $ZEC, is also a top gainer in today’s session as seen from its price movements as well. Looking at an in-depth analysis, we see that the zCash price is currently trending upwards within the pitchfork channel. The price has recently broken above the middle line of the pitchfork, suggesting that the bullish trend might continue.
On the other hand, we see that the ADX (Average Directional Index): The ADX is at 30.98, indicating that the trend is moderately strong. If the ADX continues to rise, it would confirm the strength of the bullish trend. Zcash traded at $41.19 as of press time, representing a 9.68% increase over the last 24 hours.
