The bulls are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $2.44T as of press time, representing a 1.40% increase over the last 24 hours, while the trading volume jumped by 2.42% over the same period to stand at $104.15B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has posted minor gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the Bitcoin chart indicates a strong bullish momentum as evidenced by the price movement above both the Bollinger Bands and the 20 SMA, suggesting a strong uptrend. The recent price action has moved significantly above the upper Bollinger Band, typically an indication of overbought conditions which could either lead to a continuation of the trend or a potential retracement as traders might start to take profits.Â
The Awesome Oscillator shows increasing green bars, signaling rising buying pressure. The current market stance on Bitcoin might suggest bullish continuation but with caution towards potential volatility or retracement due to the overextended move. Bitcoin traded at $72,378 as of press time, representing a 2.08% 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 Ethereum’s price shows a recovery phase, as it rebounds from the lower levels and now trends above the Alligator indicator lines, suggesting a bullish phase initiation.Â
The Money Flow Index (MFI) being near 60 indicates good buying pressure but not yet overbought, providing room for potential upward movement. Investors might look for continued buying opportunities as long as the price maintains above the Alligator’s jaw. Ethereum traded at $2,669 as of press time, representing a 2.26% increase over the last 24 hours.
Sui Price Review
Sui, $SUI, 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 presents a complex picture with recent price actions crossing above the Ichimoku Cloud, which generally suggests a bullish trend reversal. The price has also surpassed the baseline (Kijun-sen), adding to the bullish confirmation.
However, the ADX line remains above 25 but shows a downward trend, indicating a potential decrease in the trend’s strength. Traders should monitor if the price remains above the cloud for further bullish confirmation or dips back into or below the cloud as a sign of weakness. Sui traded at $2.08 as of press time, representing a 11.98% increase over the last 24 hours.
Sei Price Review
Sei, $SEI, 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 SEI chart shows a recently bullish breakout as the price has surged above the SuperTrend indicator, turning it from red to green, which is typically a buy signal.
The Awesome Oscillator confirms the bullish momentum, as reflected by the growing green bars. This suggests an increase in bullish strength and buying interest. Sei traded at $0.4127 as of press time, representing a 8.2% increase over the last 24 hours.
Maker Price Review
Maker, $MKR, 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 price has recently surged above the 50-day moving average (yellow line), which could indicate a short-term shift in momentum from bearish to bullish. The 100-day (green line) and 200-day (blue line) moving averages still lie above the current price level, suggesting that the overall trend remains bearish, but a possible change could be in the early stages if the upward momentum continues.
The Moving Average Convergence Divergence (MACD) indicator shows a positive crossover, with the MACD line (blue) crossing above the signal line (orange), reinforcing the bullish momentum signal. Maker traded at $1,183 as of press time, representing a 6.5% increase over the last 24 hours.
