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 $2.14T as of press time, representing a 2.18% increase over the last 24 hours, while the trading volume dropped by 23% over the same period to stand at $64.28B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, is posting gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the bands are relatively narrow, which typically precedes a period of higher volatility. The price touching the upper band suggests potential resistance, but a close above could indicate further upward movement.
On the other hand, we see that the Awesome Oscillator has recently turned positive, signaling a potential shift from bearish to bullish momentum. The green bars indicate increasing bullish momentum, but the relatively low values suggest the trend is still weak. Bitcoin traded at $60,803 as of press time, representing a 2.74% increase 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’s lines are intertwined, indicating a lack of a clear trend, which is typical during a consolidation phase. This could be a period of indecision before a breakout in either direction.
On the other hand, we see that the ADX (14) is 20.23, which is relatively low, indicating a weak trend. This aligns with the Alligator indicator’s suggestion of consolidation. Ethereum traded at $2,724 as of press time, representing a 2.7% increase as well over the last 24 hours.
THORChain Price Review
THORChain, $RUNE, is also among the gainers in today’s session as seen from its price movements as well. Looking at an in-depth analysis, we see that the cloud is acting as support, and the price has broken above the cloud, indicating potential for further upside. The conversion line (Tenkan-sen) is above the base line (Kijun-sen), reinforcing the bullish trend.
On the other hand, we see that the Woodies CCI is in the positive territory, indicating a bullish trend. However, the recent high CCI values suggest the price might be entering an overbought zone, so a pullback could occur. THORChain traded at $3.7 as of press time, representing a 13.31% increase as well 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 is below the price, providing a bullish signal. This suggests that the current trend is strong and likely to continue unless the price breaks below the Supertrend level.
On the other hand, we see that the Money Flow Index is at 72.37, close to the overbought threshold of 80. This indicates strong buying pressure but also warns of a potential pullback if the MFI continues to rise. Helium traded at $7.36 as of press time, representing an 11.93% increase as well over the last 24 hours.
Immutable Price Review
Immutable, $IMX, 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 Immutable price is near the lower boundary of the Pitchfork channel, suggesting it might find support soon. However, the overall trend remains bearish unless there’s a breakout above the midline of the pitchfork.
On the other hand, we see that the Volume Oscillator shows low volume (1.65%), indicating that the recent price movements might lack strong conviction. This could suggest a weak attempt at a reversal or simply a pause in the downtrend. Immutable traded at $1.24 as of press time, representing a 8.6% increase as well over the last 24 hours.
