The bulls are still in control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.09T as of press time, representing a 2% increase over the last 24 hours, while the trading volume dropped by 32% over the same period to stand at $82.2B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, is however correcting in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the the Bitcoin price is moving within the Bollinger Bands, with the bands starting to narrow, indicating a potential decrease in volatility. The price is closer to the middle band, suggesting that the current trend may be in a consolidation phase.
On the other hand, we see that the MACD histogram shows weakening bullish momentum as the bars have decreased in size, and the MACD line (blue) is close to the signal line (orange). Bitcoin traded at $59,081 as of press time, representing a 0.41% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, 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 Alligator lines (Jaw, Teeth, Lips) are intertwined, indicating a lack of a strong trend and a period of consolidation. This suggests the market is in a state of indecision and could break out in either direction.
On the other hand, we see that the Woodies CCI indicator shows some volatility, with the CCI line hovering near the zero line. The recent move indicates slight bullish momentum, but the overall market sentiment is neutral. Ethereum traded at $2,639 as of press time, representing a 2% increase over the last 24 hours.
ORDI Price Review
ORDI, $ORDI, is among the TOP gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, The oRDI price is testing the lower boundary of the Ichimoku Cloud, which acts as resistance. If the price breaks above the cloud, it could signal a bullish reversal. However, being below the cloud suggests the current trend is bearish.
On the other hand, we see that the MFI is close to 70, indicating that the asset is approaching overbought territory. This could lead to a price correction if the index reaches or surpasses the overbought level. ORDI traded at $30.7 as of press time, representing an 8.6% increase over the last 24 hours.
Starknet Price Review
Starknet, $STRK, 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 chart shows a rising wedge pattern, which typically signals a potential bearish reversal. The Starknet price has tested the upper boundary and is showing signs of a downward movement, which may lead to a breakdown below the wedge.
On the other hand, we see that the Volume Oscillator is below zero, indicating that the volume during recent price rises is decreasing. Starknet traded at $0.3942 as of press time, representing a 4.6% increase over the last 24 hours.
Helium Price Review
Helium, $HNT, 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 Supertrend indicator is currently showing a bullish trend as the price is above the indicator line. However, there seems to be a recent downward retracement, suggesting a potential test of support.
On the other hand, we see that the Awesome Oscillator shows a strong bullish momentum with green bars increasing in size. This indicates that the current upward trend might continue unless a significant bearish divergence occurs. Starknet traded at $0.3942 as of press time, representing a 4.6% increase over the last 24 hours.
