Markets are consolidating again as seen from the global market cap which has recorded minimal movement over the last 24 hours. Stranding at $2.35T as of press time, the global market cap had risen by 0.09% over the last 24 hours showing minimal activity.
Bitcoin Price Review
[ccpw id=60415] is now consolidating around the $66K level amid its recent recovery. The Bitcoin price seems to have recently broken below the 20-period SMA (the middle Bollinger Band line), indicating a potential downtrend. The widening of the bands suggests increasing volatility.Â
The Relative Strength Index (RSI) is hovering around the mid-range, neither in overbought nor oversold territory, which doesn’t provide a clear signal on its own. The Bitcoin price stood at $66.2K as of press time representing a 1.3% drop over the last 24 hours.
Ethereum Market Review
[ccpw id=60480] is also in what seems like a consolidation period. Looking at Ethereum price charts, we notice the SuperTrend indicator is showing a bullish signal, as the Ethereum price is above the indicator line, and the line itself is green.Â
The Money Flow Index (MFI) is below 50, indicating that there may not be enough volume to support a strong uptrend, so caution is advised. The Ethereum price stood at $3,521 as of press time representing a 0.2% pump over the last 24 hours.
Ronin Price Review
Ronin (RON) has emerged as the top gainer today having posted notable gains. Analysing Ronin price charts, we notice the Alligator lines are intertwined, which typically signifies a lack of a strong trend or a consolidation phase. This is asserted by the last red candle stick pattern which shows some bear action in the current trrend
The Average Directional Index (ADX) is declining and below 50, which further supports the lack of a strong trend. The Ronin price stood at $4.10 as of press time representing a 11.2% pump over the last 24 hours.
Internet Computer Price Review
Internet Computer (ICP) is the second top gainer today as it also managed some notable gains. Analysing Internet Computer price charts, we notice that the Internet Computer price is at the upper end of the pitchfork, indicating a potential resistance area.
The Awesome Oscillator (AO), an indicator used to gauge trends, is showing a strong bullish momentum as the green bars are increasing in height, suggesting that the uptrend might continue. The Internet Computer price stood at $13.66 as of press time representing a 13.5% pump over the last 24 hours.
Stacks Price Review
Stacks (STX) is our third top gainer today as it wraps up our list. The Stacks price is above the Ichimoku Cloud, indicating a bullish trend. However, the red ‘Senkou Span B’ line above the green ‘Senkou Span A’ line might indicate future resistance.
The Average Directional Index (ADX), an indicator used to gauge trends, is trending upward but still below 50, indicating a growing trend strength, although it might not be very strong yet. The Stacks price stood at $3.67 as of press time representing a 9.4% pump over the last 24 hours.
