The bulls are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $2.33T as of press time, representing a 0.87% increase over the last 24 hours, while the trading volume dropped by 3.4% over the same period to stand at $77.46B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has posted gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that Bitcoin is currently trading near the upper Bollinger Band, indicating potential overbought conditions or a bullish continuation. If the price breaks above this band, it could signal a stronger upward momentum.Â
On the other hand, we see that the Awesome Oscillator shows positive momentum, as seen with green bars, but the current bar is slightly shorter than previous ones, suggesting a possible weakening of bullish momentum in the short term. Bitcoin traded at $67,897 as of press time, representing a 0.94% increase over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that Ethereum’s price is consolidating between the 50-day and 200-day moving averages. The 50-day SMA ($2,527) is acting as immediate support, while the 200-day SMA ($2,474) is the next level to watch for further downside.
On the other hand, we see that the Awesome Oscillator is close to the zero line, indicating neutrality. The lack of clear momentum suggests that ETH might remain in a consolidation phase until it breaks either above the $2,639 resistance or below the $2,527 support. Ethereum traded at $2,638 as of press time, representing a 0.69% increase over the last 24 hours.
Popcat Price Review
Popcat, POPCAT, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that Popcat’s Alligator indicator is showing a convergence of the moving averages, which indicates that the asset is entering a consolidation or resting phase after a recent trend.Â
On the other hand, we see that the ADX (21.74) is relatively low, suggesting that the current trend is weak and there isn’t much directional strength in the market. This further reinforces the idea of consolidation. Popcat traded at $1.37 as of press time, representing a 12.12% increase over the last 24 hours.
Dogecoin Price Review
Dogecoin, $DOGE, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Supertrend indicator has flipped bullish, providing a buy signal with support around $0.1220. However, the price is approaching resistance at $0.1351. If DOGE can break through this level, it could see further upside.
On the other, we see that the MFI is at 87.46, which indicates that the asset is in overbought territory. A correction may be imminent unless strong buying pressure continues to push the price higher. Dogecoin traded at $0.1348 as of press time, representing a 10.55% increase over the last 24 hours.
Injective Price Review
Injective, $Inject, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that The Ichimoku Cloud shows that INJ is hovering near the Kumo cloud resistance, indicating potential consolidation. A break above the cloud would be bullish, while a rejection could lead to a downside move.
On the other hand, we see that the MACD is showing a neutral setup, with both the signal and MACD lines near the zero line. This suggests that momentum is currently weak, and the market is waiting for a catalyst to push the price in either direction. Injective traded at $21.99 as of press time, representing a 10.55% increase over the last 24 hours.
