Today’s market session has bulls on the front foot, as seen from the increase in the global market cap. The total cap stood at $2.65T as of press time, representing a 0.28% increase over the last 24 hours, while the trading volume dropped by 5% to stand at $75B as of press time.
Bitcoin Price Review
Bitcoin (BTC) is among the gainers in today’s session, as evidenced by its price movements. Looking at an in-depth analysis, we see that the Bitcoin chart showcases a recent uptrend, with the price now hovering near the upper band of the Bollinger Bands, indicating potential overbought conditions. The movement above the 20 SMA (blue line) suggests a strong bullish trend. The price seems to be resisting at around $71,000, with solid support forming near the $70,000 mark.
On the other hand, the RSI is not shown, but the volume decline suggests decreasing selling pressure, which could support continued bullish behavior unless a significant reversal occurs. As of press time, the Bitcoin price stood at $71,249, representing a 0.54% jump from its previous 24-hour price.
Ethereum Price Review
Ethereum (ETH) also failed to post gains in today’s session, as seen from its price movements. Analysing Ethereum price charts, we see that its price action shows a consolidation pattern, with the price fluctuating slightly around the 20 SMA, indicating equilibrium between buyers and sellers. The Alligator indicator (green, red, blue lines) suggests a sideways market as the lines are intertwined and flat.
On the other hand, the MFI (Money Flow Index) is at 56.50, near the center range, supporting the notion of balanced, indecisive market sentiment. As of press time, the Bitcoin price stood at $71,249, representing a 0.54% jump from its previous 24-hour price.
Wormhole Price Review
Wormhole (W) is the top gainer in today’s session, as seen from its price movements. An in-depth analysis shows that the token exhibits a bullish breakout from the Ichimoku cloud, a bullish signal suggesting that the price might continue to rise. The price is currently testing resistance at $0.702.
On the other hand, the RSI at 54.69 shows there is room for upward movement before the asset becomes overbought. The recent price action above the cloud and the upward slope of the cloud indicate growing bullish momentum. As of press time, the Wormhole price stood at $0.7073, representing a 13.6% jump from its previous 24-hour price.
ORDI Price Review
As seen from its price movements, ORDI (ORDI) was another gainer in today’s session. Looking at an in-depth analysis, we see that it shows a strong bullish trend, as indicated by the green candles above the Supertrend line, which turned green as well. This change in the Supertrend’s color signals a bullish reversal.
On the other hand, Woodie’s CCI is above 100, confirming strong upward momentum. The ongoing trend suggests that the price might continue to ascend as long as it remains above the Supertrend line. As of press time, the ORDI price stood at $63.22, representing a 12.2% jump from its previous 24-hour price.
Injective Price Review
Injective (INJ) is also among the gainers in today’s session. In-depth analysis shows that INJ shows a strong bullish impulse breaking upwards out of a descending pitchfork pattern, which typically signifies a potential reversal from a downtrend to an uptrend. The large green candle indicates strong buying pressure.
Conversely, the MFI at 78.59 is high, suggesting overbought conditions that could lead to a temporary pullback or consolidation before further upward movement. As of press time, the Injective price stood at $29.33, representing a 12.47% jump from its previous 24-hour price.
