Bulls continue to show resilience in markets as shown by the rise in global market cap over the last day. The total global market cap stood at $2.6 trillion as of press time representing an increase of 0.5% over the last 24 hours.
Bitcoin Price Review
Bitcoin (BTC) is now facing consolidation as charts now suggest. Looking at the 4-hour BTC/USD charts, we notice the Bitcoin price is trading near the upper band, suggesting strong upward momentum. The RSI value is around 60, a moderate Bitcoin market.
The RSI’s movement suggests a bit of uncertainty in the market as both bulls and bears struggle for dominance. The Bitcoin price stood at $64.6K as of press time, representing a 5.2% dump in the last 24 hours as the crypto king surges again.
Ethereum Price Review
The Ethereum (ETH) chart shows that the Ethereum price is within the upper half of the pitchfork but shows a couple of bearish candle sticks, as the altcoin king also enters into a period of consolidation.
The MACD indicator is now in the red zone indicating that bears are in control of the markets. The Ethereum price stood at $3889 as of press time, representing a 1 dump in the last 24 hours.
Pepe Price Review
The Supertrend indicator is below the Pepe price (AR) and green in color, suggesting a bullish trend. As long as the Pepe price remains above this line, the uptrend is considered intact. The Pepe price has been in an uptrend as shown by the consistent higher highs and higher lows over the period displayed.
The Money Flow Index (MFI), which is at 80.35, is near the overbought zone. This indicates massive buying pressure, supporting today’s pump. A reading close to 80 often indicates a lack of overbought conditions in the market hence the risks of a correction. The Pepe price stood at $0.000008848 as of press time, representing a 0.22% pump in the last 24 hours.
FLOKI Price Review
The FLOKI price recently in an upward trend, now seems to be entering a correction phase as indicated by the recent series of red candle sticks. The Alligator indicator, which is a collection of moving averages, suggests a bullish trend with the green line (lips) above the red line (teeth) and the blue line (jaw).
The ADX is currently at a value of 52, which indicates a rather strong trend. Generally, an ADX value above 25 suggests that the market is trending, and the higher the value above 25, the stronger the trend. The rising ADX in the context of a rising price suggests that the uptrend is strong. The FLOKI price stood at $0.0002508 as of press time, representing a 9.5% pump in the last 24 hours.
Shiba Inu Price Review
Looking at Shiba Inu (SHIB), we notice that the CCI line (turquoise) is above the signal line (red), which typically suggests bullish momentum. Both lines are diverging, which might indicate that the momentum is getting stronger.
However, the Awesome Oscillator, used in gauging trends, has shifted back to red histograms as it now moves closer the zero line, calling for caution despite the recent trends. The Shiba Inu price stood at $0.00003532 as of press time, representing a 0.15% dump in the last 24 hours.
