The bulls are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $3.31T as of press time, representing a 2.59% increase over the last 24 hours, while the trading volume dropped by 8.36% over the same period to stand at $201.68B 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, the Bitcoin price is currently between the middle and upper bands, suggesting moderate volatility. A break above the upper band may signal an upcoming bullish phase.
On the other hand, we see that the Awesome Oscillator (AO) is in the red but showing a decrease in negative momentum, which might indicate that selling pressure is easing. Bitcoin traded at $95,437 as of press time, representing a 2.21% increase over the last 24 hours.
4-hour BTC|USD Chart | Source: TradingView
Ethereum Price Review
Ethereum, $ETH, is also among the gainers in today’s sessio as also seen from its price movements. Looking at an in-depth analysis, we see that the Alligator’s lines (jaw, teeth, and lips) are well separated and aligned in a way that supports the ongoing bullish trend. The jaw (blue line) is below the teeth (red line), and the teeth are below the lips (green line), which typically indicates a strong upward trend.
On the other hand, we see that the Money Flow Index (MFI) is above 60, indicating strong buying pressure, but also approaching overbought territory which could lead to a pullback. Ethereum traded at $3,630 as of press time, representing a 6.18% increase over the last 24 hours.
4-hour ETH/USD Chart | Source: TradingView
Ethereum Name Service Price Review
Ethereum Name Service, $ENS, 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 token is currently high, suggesting that the asset may be overbought and could see a correction or consolidation in the short term.
On the other hand we see that the simple Moving Averages (SMA) the Ethereum Name Service price is well above the 50, 100, and 200-SMA, indicating strong bullish momentum. Ethereum Name Service traded at $35.56 as of press time, representing a 46.56% increase over the last 24 hours.
4-hour ENS/USD Chart | Source: TradingView
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 Supertrend indicators shows a positive signal with the price above the supertrend line.
On the other hand, we see that the Average Directional Index (ADX) is below 25, suggesting that the current trend is weak, which might mean the breakout needs more confirmation. Ethena traded at $35.40 as of press time, representing a 46.00% increase over the last 24 hours.
4-hour ENA/USD Chart | Source: TradingView
Pyth Network Price Review
Pyth Network, $PYTH, is also among the gainers in today’s sessio as also seen from its price movements. Looking at an in-depth analysis, we see that the price is above the cloud is bullish, and the future cloud appears bullish as well, suggesting sustained upward potential.
On the hand, we see that the Volume Oscillator there’s no significant volume increase on the last peak, which might question the sustainability of the recent bullish move. Pyth Network traded at $0.4759 as of press time, representing a 11.69% increase over the last 24 hours.
4-hour PYTH/USD Chart | Source: TradingView
Source: https://blockchainreporter.net/daily-market-review-btc-eth-ens-pyth-uni/