Bulls have taken charge of the markets, as evidenced by the surge in global market capitalization. At the time of writing, the total market cap stood at $2.31 trillion, marking a 2.29% increase in the last 24 hours. Additionally, trading volume rose by 9% to reach $73.5 billion during the same period.
Bitcoin Price Review
Bitcoin (BTC) is currently experiencing an upward trend, as indicated by its price movements. A detailed analysis reveals that the Bitcoin price is currently testing the upper Bollinger Band, suggesting potential overbought conditions. If a breakout occurs above the upper band, it would signal a continuation of the bullish trend.
Furthermore, the Awesome Oscillator (AO) is in a positive and ascending state, reflecting bullish momentum. The presence of green bars indicates that the bullish momentum is gathering strength. At the time of writing, the Bitcoin price was $64,197, reflecting a 4.6% increase compared to its price in the previous 24 hours.
4-hour BTC/USD Chart | Source: TradingView
Ethereum Price Review
Ethereum (ETH) is also experiencing gains in today’s session as bulls begin to dominate. A thorough analysis reveals that the Alligator lines (lips, teeth, and jaw) are converging, suggesting a potential shift or consolidation in the trend. A recent bullish crossover further supports the possibility of an upward movement.
Additionally, the MACD line is slightly below the signal line, indicating a potential bullish crossover. The histogram confirms a decrease in bearish momentum. As of now, the Ethereum price stands at $2,953, reflecting a 2.3% increase compared to its price in the previous 24 hours.
4-hour ETH/USD Chart | Source: TradingView
Floki Price Review
Floki (FLOKI) is also among the gainers in today’s session, evident from its price movements. Analyzing Floki’s price charts, it is observed that the price is currently above the cloud, indicating a bullish trend. The widening of the leading span lines further suggests strong bullish momentum.
However, the RSI is at 78.61, indicating overbought conditions. Consequently, a potential pullback or consolidation may occur. At the time of writing, the Floki price was $0.0002211, reflecting a 12.3% increase compared to its price in the previous 24 hours.
4-hour FLOKI/USDT Chart | Source: TradingView
Wormhole Price Review
Wormhole (W) is one of the top gainers today, as indicated by its price movements. A detailed analysis reveals that the Supertrend is displaying a bearish signal, with the price below the red line. However, a break above the Supertrend line at $0.5878 would suggest a potential reversal to a bullish trend.
Additionally, the Awesome Oscillator (AO) is slightly negative, indicating bearish momentum. Nonetheless, the histogram shows a decrease in bearish pressure, hinting at potential consolidation. At the time of writing, the Wormhole price stood at $0.5518, reflecting a 5.56% increase compared to its price in the previous 24 hours.
4-hour W/USDT Chart | Source: TradingView
THORChain Price Review
THORChain (RUNE) is also experiencing gains in today’s session, as indicated by its price movements. Analyzing THORChain’s price charts, it can be observed that the price has recently rebounded from the lower boundary of the pitchfork channel. The upward movement within the pitchfork suggests a potential continuation of the bullish trend.
Furthermore, the Money Flow Index (MFI) is at 60.96, indicating moderate buying pressure. The recent increase in MFI suggests accumulation by buyers. At the time of writing, the THORChain price was $5.88, reflecting a 7.6% increase compared to its price in the previous 24 hours.
4-hour RUNE/USDT Chart | Source: TradingView