The bulls are in control of today’s session, as seen from the increase in the global market cap. The total cap stood at $2.38T as of press time, representing a 1.36% increase over the last 24 hours, while the trading volume jumped by 66.15% over the same period to stand at $66.9B as of press time.
Bitcoin Price Review
Bitcoin, $BTC
, has posted small gains in today’s session, as seen from its price movements. Looking at an in-depth analysis, we see that Bitcoin shows a bullish trend as it is consistently trading above the 20-day Simple Moving Average (SMA). The price is also above both the upper and lower bands of the Bollinger Band indicator, suggesting strong buying momentum.
On the other hand, we see that the Awesome Oscillator (AO) shows green bars, although they’re decreasing in height, indicating potential slowing momentum despite the bullish trend. Bitcoin traded at $68,637 as of press time, representing a 0.35% 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 session as also evidenced by its price movements. Looking at an in-depth analysis, we see that Ethereum also exhibits a bullish pattern, having recently moved above its 100-day SMA. The price is generally oscillating between the 50-day and 200-day SMAs, indicating a potential consolidation phase before a further move.
On the other hand, we see that the Relative Strength Index (RSI) is above 60, which leans towards overbought territory but still supports the bullish sentiment. Ethereum traded at $2,727 as of press time, representing a 3.01% increase over the last 24 hours.
4-hour ETH/USD Chart | Source: TradingView
ApeCoin Price Review
ApeCoin, $APE, 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 ApeCoin shows a significant recent upsurge, breaking above the Alligator indicator’s lines, which is a bullish signal. This sudden spike suggests a strong buying interest.
On the other hand, we see that the Average Directional Index (ADX) points above 40, indicating a very strong trend in place. The negative slope of the ADX, however, suggests the trend might be losing some strength. ApeCoin traded at $1.49 as of press time, representing a 20.29% increase over the last 24 hours.
4-hour APE/USD Chart | Source: TradingView
dYdX Price Review
dYdX, $DYDX, is also among the gainers in today’s session as seen from its price movements. Looking at an in-depth analysis, we see that dYdX has had a bullish breakout evident from the sharp upward movement through the Ichimoku cloud, which is traditionally a bullish indicator.
On the other hand, we see that the AO shows rising green bars, confirming the strength of the current bullish momentum. dYdX traded at $1.22 as of press time, representing a 20.98% increase over the last 24 hours.
4-hour DYDX/USD Chart | Source: TradingView
Cat in a dogs world Price Review
Cat in a dogs world, $MEW, 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 MEW displays a robust bullish rally, confirmed by its recent sharp rise, and is now trading well above the Ichimoku Cloud.
On the other hand, we see that the Money Flow Index (MFI) is above 70, indicating that the asset may be overbought, which could lead to a potential pullback or consolidation. Cat in a dogs traded at $0.00976 as of press time, representing a 13.80% increase over the last 24 hours.
4-hour MEW/USD Chart | Source: TradingView
BTC ETH APE DYDX MEW A Comprehensive Daily Market Analysis