The bulls are in control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.25T as of press time, representing a 2.87% increase over the last 24 hours, while the trading volume also jumped by 20% over the same period to stand at $84.2B 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 testing the upper band, suggesting overbought conditions, but also indicating a strong bullish trend. A close above the upper band may signal continued upward momentum.
On the other hand, we see that the ADX (Average Directional Index) is at 23.17, suggesting a weak to moderate trend strength. However, if this value increases, it could confirm the continuation of the current bullish trend. Bitcoin traded at $65,085 as of press time, representing a 2.99% 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 The lines are aligned in a bullish setup, with the green line above the red and blue lines, suggesting a buying opportunity.
On the other hand, we see that the Money Flow Index (MFI)is currently at 53.68, the MFI suggests that buying and selling pressure are balanced, leaning slightly towards the buy side. Ethereum traded at $2,655 as of press time, representing a 3.04% increase over the last 24 hours.
Shiba Inu Price Review
Shiba Inu, $SHIB, 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 RSI is at 88.21, indicating extremely overbought conditions. The sharp upward movement suggests strong buying pressure, but caution is advised as RSI levels above 70 often precede pullbacks.
Looking at Moving Averages, we see that SHIB is trading well above the 50, 100, and 200 SMAs, reinforcing the current bullish momentum. Shiba Inu traded at $0.00001869 as of press time, representing a 20.63% increase over the last 24 hours.
Ethena Price Review
Ethena, $ENA, 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 buy signal from the Supertrend indicator is maintained, reinforcing the uptrend. The current level at 0.3124 acts as a strong support.
On the other hand, we see that the Volume Oscillator shows increased buying volume, supporting the upward price action. Ethena traded at $0.3706 as of press time, representing a 17.95% increase over the last 24 hours.
Wormhole Price Review
Wormhole, $W, 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 Wormhole price is trading above the cloud, confirming a bullish trend. The conversion line crossing above the baseline further supports this outlook.
On the other hand, we see that the ADX is at 33.31 suggests a strong trend, and if it continues to rise, it will further validate the bullish momentum. Wormhole traded at $0.2933 as of press time, representing a 15.56% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-shib-ena-w/