The bulls are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $2.47T as of press time, representing a 1.32% increase over the last 24 hours, while the trading volume dropped by 11.18% over the same period to stand at $158.57B 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 Bitcoin’s price has recently broken above the upper Bollinger Band, indicating strong bullish momentum. The AO is showing positive green bars, reflecting strong upward momentum.
However, the overextension beyond the upper band suggests a potential short-term pullback as the price may revert toward the midline (20-period SMA). The price action shows significant bullishness, but caution for a pullback is advised. Bitcoin traded at $75,116 as of press time, representing a 3.07% increase over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also among the gainers in today’s session as also seen from the price increase. Looking at an in-depth analysis, we see that Ethereum has broken out with a strong uptrend, as indicated by the separation of the Alligator’s moving averages. The green, red, and blue lines (lips, teeth, and jaws) are in alignment for an uptrend, suggesting that the bullish trend is strong and still ongoing.
On the other hand, we see that the ADX at 40.68 shows a strong trend, which could imply further upward movement, although a consolidation phase may occur soon as buyers take profit. Ethereum traded at $2,819 as of press time, representing a 9.16% increase over the last 24 hours.
Ethena Price Review
Ethena, $ENA, is among the top gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that Ethena has recently broken above its 50, 100, and 200 SMA lines, indicating a strong bullish reversal. The ADX around 38.90 suggests a developing trend, supporting the recent upward movement.
This breakout above major SMAs can act as strong support in case of any pullback, with further upward movement likely if the bullish momentum continues. Ethena traded at $0.5309 as of press time, representing a 33.29% increase over the last 24 hours.
Raydium Price Review
Raydium, $RAY, 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 Raydium has surged above the Ichimoku Cloud, signaling a strong bullish trend. The price is significantly above the cloud, and both the Tenkan and Kijun lines are aligned upward, supporting a bullish outlook.
On the other hand, we see that the MFI is at 89.44, indicating overbought conditions, so a short-term pullback or consolidation may occur before a continuation of the uptrend. Raydium traded at $4.81 as of press time, representing a 35.73% increase over the last 24 hours.
Neiro Price review
Neiro, $NEIRO, is also among the top gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that Neiro has shown a strong bullish breakout as the price is above the Supertrend’s buy zone. The ADX is at 42.37, indicating a strong trend is in place.
The recent bullish candle confirms the upward trend, although a slight consolidation or retest of the Supertrend line could occur if buying pressure decreases. If the ADX continues to strengthen, the uptrend is likely to persist. Neiro traded at $0.002097 as of press time, representing a 31.38% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-ena-ray-neiro/