The bulls are now gaining back control in today’s session, as seen from the increase in the global market cap. The total cap stood at $2.2T as of press time, representing a 0.26% decrease over the last 24 hours, while the trading volume dropped by 36.5% over the same period to stand at $44.85B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has failed posted gains in today’s session, as seen from its price movements. Looking at an in-depth, Bitcoin is trading above the Supertrend line, indicating a bullish trend. The price recently pulled back after a strong upward move, showing consolidation near resistance levels.
On the other hand, we see that the ADX is at 34.56, suggesting strong trend momentum. The trend strength is still valid but showing early signs of weakening. Bitcoin traded at $62,928 as of press time, representing a 0.26% decrease 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 Ethereum is in a bullish trend, confirmed by the Alligator’s moving averages aligning upward. The recent price action shows consolidation near the $2,580 level, a potential resistance area.
On the other hand, we see that the MFI is at 62.56, indicating mildly overbought conditions but not yet at extreme levels, allowing room for further upside. Ethereum traded at $2,583 as of press time, representing a 1,17% increase over the last 24 hours.
Pendle Price Review
Pendle, $PENDLE, is also among the top gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that Pendle has broken above the Ichimoku Cloud, signaling a strong bullish trend. The price surge is accompanied by an upward-sloping ADX at 29.88, indicating growing trend strength.
The ADX is rising, suggesting the trend is strengthening. The gap between price and the Ichimoku Cloud may imply potential retracement or consolidation. Pendle traded at $4.25 as of press time, representing a 22.17% increase over the last 24 hours.
Bittensor Price Review
Bittensor, $TAO, 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 Bittensor price is following an upward Pitchfork channel, indicating a bullish trend within a defined range. The price is currently near the upper boundary of the Pitchfork.
On the other hand, we see that the MACD shows a bullish crossover, indicating positive momentum, but the histogram is flattening, suggesting potential slowing of upward momentum.
Bittensor traded at $467.99 as of press time, representing a 13.7% increase over the last 24 hours.
Akash Network Price Review
Akash Network, $AKT, 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 Akash Network price has recently surged above the upper Bollinger Band, indicating strong bullish momentum. However, this often suggests overbought conditions.
The MACD shows a positive crossover with rising histogram bars, indicating bullish momentum. Akash Network traded at $2.85 as of press time, representing a 7.38% increase over the last 24 hours.
Source: https://blockchainreporter.net/daily-market-review-btc-eth-pendle-tao-akt/