The bulls are in control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2T as of press time, representing a 0.3% increase over the last 24 hours, while the trading volume dropped by 24% over the same period to stand at $63.61B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that Bitcoin 4-hour chart shows a downtrend following a peak above $65,000. The price is currently below the middle Bollinger Band, indicating bearish momentum.
On the other hand, we see that the Awesome Oscillator (AO) at the bottom of the chart shows a negative histogram, confirming the bearish trend. The sell and buy signals are close, reflecting a potential sideways movement or consolidation phase. Bitcoin traded at $56,709 as of press time, representing a 0.02% decrease over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, has failed to post gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that the the chart reveals a bearish trend, with prices below the Alligator indicator lines, which are diverging downward. This indicates that the bearish momentum is strengthening.
On the other hand, we see that the Woodies CCI shows readings below -66, signaling continued downward pressure. The price is near the support level of $2,402. A breakdown below this level could lead to further declines towards $2,360. On the upside, resistance is at $2,439.9, which the price must clear to negate the current bearish outlook. Ethereum traded at $2,389 as of press time, representing a 0.25% decrease over the last 24 hours.
Helium Price Review
Helium, $HNT, has posted gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, Helium’s 4-hour chart shows a mixed trend with recent bullish momentum, as indicated by the price movement above the Supertrend indicator.
However, the Money Flow Index (MFI) at 62.48 suggests the asset is nearing an overbought condition, signaling caution for a potential pullback. Helium traded at $8.09 as of press time, representing a 8.8% increase over the last 24 hours.
DOGS Price Review
DOGS, $DOGS, has posted gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, the Dogs 4-hour chart displays a recent bullish crossover as indicated by the Ichimoku Cloud, with the price moving above the Tenkan-Sen line.
On the other hand, we see that the RSI is currently at 48.19, suggesting a neutral stance but with room for further upside movement. Resistance is at 0.0013200, and a successful breach could open up further gains. DOGS traded at $0.001092 as of press time, representing a 8.55% increase over the last 24 hours.
Injective Price Review
Injective, $INJ, 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 Injective Protocol chart shows a recent break from a downward pitchfork channel, suggesting a potential bullish reversal.
On the other hand, we see that the price has moved above the midpoint of the channel, with volume oscillation turning negative, indicating reduced selling pressure. Injective traded at $17.02 as of press time, representing a 7.7% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-hnt-dogs-inj/