The bulls are in control of today’s session, as seen from the continous increase in the global market cap. The total cap stood at $2.17T as of press time, representing a 0.14% increase over the last 24 hours, while the trading volume also dropped by 13% over the same period to stand at $68.14B 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 displays a somewhat bullish trend with the price action hovering above the 20-period simple moving average (SMA) outlined by the Bollinger Bands (BB). The recent candlesticks are forming within the upper band, suggesting some buying interest.
However, the ADX (Average Directional Index) is at a low value of 13.24, indicating a weak trend strength. Traders might look for stability above the middle Bollinger Band before initiating significant positions. Bitcoin traded at $62,216 as of press time, representing a 0.14% 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 Ethereum chart indicates a potential bearish reversal pattern with the formation of a Head and Shoulders pattern. The price has broken below the upward trendline and is currently testing the neckline of the pattern.
A decisive break below this neckline could see Ethereum targeting lower supports as illustrated by the projected target line. The Awesome Oscillator (AO) shows declining momentum, supporting the potential for further downside. Ethereum traded at $2,437 as of press time, representing a 0.58% increase over the last 24 hours.
EigenLayer Price Review
EigenLayer, $EIGEN, shows some volatility with a sharp rise followed by a consolidation period. The EigenLayer price is currently oscillating around the Alligator indicator lines, which are intertwined and indicate a lack of clear direction.
On the other hand, we see that the Volume Oscillator has a high value of 16.74%, reflecting significant recent trading volume during the spikes, which could mean potential interest at these levels. EigenLayer traded at $3.93 as of press time, representing a 12.38% increase over the last 24 hours.
Monero Price Review
Monero, $XMR, 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 Monero exhibits a bullish recovery as it has started to break out from the downward Ichimoku cloud. This breakout suggests a shift in momentum from bearish to bullish if the price can sustain above the cloud.
The recent green candlesticks indicate buying pressure. The AO is gradually rising from negative to positive territory, further supporting the bullish sentiment. Monero traded at $153.56 as of press time, representing a 5.53% increase over the last 24 hours.
Fantom Price Review
Fantom, $FTM, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that Fantom’s price action is trading within the Ichimoku Cloud, indicating uncertainty and consolidation in the market. The current position of the price near the upper boundary of the cloud could suggest a potential breakout.
On the other hand, we see that the ADX at 13.89 is low, implying that the trend is weak and lacking conviction, which matches the consolidating pattern observed. Fantom traded at $0.7007 as of press time, representing a 3.93% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-eigen-xmr-ftm/