Market Bulls Regain Control as Global Market Cap Rises
The bulls have taken charge of the market in today’s session, leading to an increase in the global market cap. As of now, the total cap stands at $2.57T, representing a 0.13% rise over the past 24 hours.
Ethereum Price Analysis
Ethereum (ETH) is one of the top performers in today’s session, as indicated by its price movements. Upon analyzing Ethereum’s price charts in detail, it becomes apparent that the cryptocurrency is trading near the upper band, suggesting a potential overbought condition in the short term. However, this could also indicate a strong uptrend if the price remains around or above the upper band without significant pullbacks.
Furthermore, the Average Directional Index (ADX) currently stands at 21.95, indicating the development of a trend. This suggests that the recent upward momentum could have the necessary strength to continue. At press time, the Ethereum price is $3,937, marking a 3.4% increase in valuation over the past 24 hours.
Floki Sees Price Gains
Floki (FLOKI) is also experiencing gains in today’s session, as observed from its price movements. A thorough analysis reveals that the jaw, teeth, and lips of the Alligator indicator are opening and aligning in an upward direction, signaling a bullish phase.
However, caution is advised as the Relative Strength Index (RSI) currently stands at 80.05, indicating an overbought territory. This suggests the possibility of a retracement or consolidation in the near term due to overbuying. As of now, the Floki price stands at $0.0002859, reflecting a 26.7% increase in valuation over the past 24 hours.
Wormhole Breaks Out to Bullish Trend
Wormhole (W) is also on the list of gainers in today’s session, as evidenced by its price movements. An in-depth analysis reveals that the Wormhole price is breaking out above the Ichimoku cloud, signaling a shift towards a bullish trend in the medium-term outlook.
Furthermore, the Supertrend indicator has turned green and moved below the price, confirming the bullish signal indicated by the cloud breakout. At press time, the Wormhole price is $0.6138, denoting an 8.45% increase in valuation over the past 24 hours.
Dogwifhat Shows Bullish Sentiment
Dogwifhat (WIF) has also experienced gains in today’s session, as indicated by its price movements. A detailed analysis shows that the Dogwifhat price action is above the cloud, suggesting a bullish sentiment. Additionally, the future cloud is turning green, further supporting this optimistic outlook.
Moreover, the Woodies CCI is in positive territory, confirming the bullish trend observed by other indicators. The Dogwifhat price currently stands at $3.32, reflecting a 9.7% increase in valuation over the past 24 hours.
Pepe Continues to Gain
Pepe (PEPE) remains among the gainers in today’s session, as seen from its price movements. Upon closer analysis, it is evident that the pitchfork displays an upward channel, with the price action respecting the median line. This indicates that the price is well-supported during retracements and tends to gravitate towards the median line after deviations.
However, the volume oscillator stands at -2.34%, signaling a slight decrease in volume compared to the moving average. Currently, the Pepe price is $0.00001687, showing a 7.8% increase in valuation over the past 24 hours.
