Daily Market Review: BTC, ETH, ONDO, WIF, ICP

Markets have started on bull activity as evidenced by the increasing global market cap. The total cap, standing at $2.55T as of press time, had seen a 3.9% increase in the last 24 hours as the global trading volume increased by 14.9% within the same period to stand at $80.6B.

Bitcoin Price Review

Bitcoin (BTC) is now close to $67K as bulls regain control. The

appears slightly uptrend as it’s trading above the 20 SMA and moving within the upper half of the Bollinger Bands. Volatility seems moderate as the Bollinger Bands are neither extremely tight nor excessively wide.

The Average Directional Index (ADX) is around 17, which indicates a weak trend. This value suggests that the current price movement doesn’t have a strong directional trend and there might be some corrections. The Bitcoin price stood at $66,998 as of press time representing a 3.7% pump over the last 24 hours.

Ethereum Price Review

Ethereum (ETH) has also posted gains today ahead of the general uptrend. The

is currently sitting slightly below the Ichimoku cloud, suggesting a lack of a clear bullish sentiment. However, it’s testing the cloud from below, which could indicate a potential upcoming trend change. The cloud width is moderate, suggesting average volatility.

The Relative Strength Index (RSI) is around 54, neutral, neither overbought nor oversold. If the Ethereum price breaks into the cloud and beyond, it may signal a bullish reversal. Conversely, the bearish sentiment may continue if it fails to penetrate the cloud. The Ethereum price stood at $3,453 as of press time representing a slight 3.3% pump over the last 24 hours.

Ondo Price Review

Ondo (ONDO) is today’s top gainer ahead of the uptrend. The Ondo price is within a downward pitchfork channel, indicating a longer-term downtrend but has recently shown an uptick. The MACD line (blue) has crossed above the signal line (orange), suggesting increasing bullish momentum.

If the bullish momentum continues and the price breaks above the pitchfork upper line, it could signal a trend reversal. Otherwise, it may continue within the channel. The Ondo price stood at $0.9374 as of press time representing a slight 28% pump over the last 24 hours.

Dogwifhat Price Review

Dogwifhat (WIF) is the second top gainer today as it also posted notable gains in today’s session. The Ondo price recently crossed above the Alligator’s jaw, signalling a potential uptrend. The Alligator lines are beginning to separate, which could indicate an increase in volatility.

The Money Flow Index (MFI) is quite high at around 77, indicating that the market may be overbought. Although the market might be overbought, the momentum could raise the price. Traders should be cautious of a potential reversal given the high MFI value. The Dogwifhat price stood at $2.80 as of press time representing a slight 24% pump over the last 24 hours.

Internet Computer Price Review

Internet Computer (ICP) wraps up our list as it emerges as today’s third top gainer. The Supertrend indicator is green and below the Internet Computer price, suggesting a bullish trend. The Relative Strength Index (RSI) is high at around 76, nearing overbought territory, which could precede a price pullback. 

The bullish trend is strong, but with the RSI approaching overbought levels, there could be a risk of a retracement or consolidation soon. This is evidenced by the RSI’s southern trajectory indicating changing momentum. The Internet Computer price stood at $16.80 as of press time representing a slight 22.5% pump over the last 24 hours.