The current market session is dominated by bullish activity, evident from the rise in the global market cap. The total cap has reached $2.65 trillion at this moment, showing a 0.28% increase in the past 24 hours while the trading volume has decreased by 5% to $75 billion.
Bitcoin Price Analysis
Bitcoin (BTC) has shown gains in today’s session, with its price movements reflecting this. A detailed examination of the Bitcoin chart reveals an upward trend, with the price currently close to the upper Bollinger Bands, indicating a potential overbought situation. The price surpassing the 20 SMA (blue line) indicates a strong bullish trend. Resistance is seen around $71,000, with solid support forming near $70,000.
Although the RSI is not visible, the decline in volume suggests reduced selling pressure, potentially supporting further bullish behavior unless a significant reversal occurs. The current Bitcoin price is $71,249, showing a 0.54% increase from the previous 24-hour price.
Ethereum Price Analysis
Ethereum (ETH) has not experienced gains in today’s session, as observed from its price movements. Analyzing Ethereum’s price charts, there is a consolidation pattern with the price fluctuating around the 20 SMA, indicating a balance between buyers and sellers. The Alligator indicator suggests a sideways market with intertwined and flat lines.
The MFI at 56.50, near the center range, supports the idea of balanced market sentiment. The current Ethereum price is $71,249, reflecting a 0.54% increase from the previous 24-hour price.
Wormhole Price Analysis
Wormhole (W) has emerged as the top gainer in today’s session, with a bullish breakout from the Ichimoku cloud signaling a potential price increase. The current price is testing resistance at $0.702. The RSI at 54.69 indicates room for upward movement before the asset becomes overbought. The recent price action and upward slope of the cloud suggest growing bullish momentum. The current Wormhole price is $0.7073, showing a 13.6% increase from the previous 24-hour price.
ORDI Price Analysis
ORDI (ORDI) has also experienced gains in today’s session, displaying a strong bullish trend with green candles above the Supertrend line turning green as well, signaling a bullish reversal. Woodie’s CCI above 100 confirms strong upward momentum. The ongoing trend suggests further price increases as long as it remains above the Supertrend line. The current ORDI price is $63.22, showing a 12.2% increase from the previous 24-hour price.
Injective Price Analysis
Injective (INJ) is another gainer in today’s session, showing a strong bullish impulse breaking out of a descending pitchfork pattern, indicating a potential reversal from a downtrend to an uptrend. The high MFI at 78.59 suggests overbought conditions that could lead to a temporary pullback before further upward movement. The current Injective price is $29.33, reflecting a 12.47% increase from the previous 24-hour price.
